Latest news with #Tangerang
Zawya
21-05-2025
- Business
- Zawya
Mubadala Energy ready to sell south Andaman gas to Indonesia if price is right
TANGERANG, Indonesia - Mubadala Energy would be more than happy to supply all the natural gas to be produced from its south Andaman block for Indonesia's domestic consumption at the right price, a senior executive said on Wednesday. Indonesia wants gas producers to increase supplies to domestic users as demand is rising. However, producers mostly prioritise exports of liquefied natural gas and have asked the government to review price caps on domestic gas, arguing that it does not make good business sense when spot prices for LNG are so much higher. Abdulla Bu Ali, president director of Mubadala Energy Indonesia, told reporters on the sidelines of the Indonesia Petroleum Association conference, that the company was looking at both exports and selling to Indonesia. He said domestic gas prices had to be competitive but declined to give a specific number. The United Arab Emirates explorer expects to start gas production at Tangkulo-1 in its south Andaman block in late 2028. On Tuesday, it signed an initial agreement to supply gas to state fertiliser maker Pupuk Indonesia. Indonesia caps domestic gas prices for certain industries and power plants at $6.50-$7 per million British thermal units (mmBtu). Spot LNG prices in Asia were at $11.75 per mmBtu last week.
Reuters
21-05-2025
- Business
- Reuters
Mubadala Energy ready to sell south Andaman gas to Indonesia if price is right
TANGERANG, Indonesia, May 21 (Reuters) - Mubadala Energy would be more than happy to supply all the natural gas to be produced from its south Andaman block for Indonesia's domestic consumption at the right price, a senior executive said on Wednesday. Indonesia wants gas producers to increase supplies to domestic users as demand is rising. However, producers mostly prioritise exports of liquefied natural gas and have asked the government to review price caps on domestic gas, arguing that it does not make good business sense when spot prices for LNG are so much higher. Abdulla Bu Ali, president director of Mubadala Energy Indonesia, told reporters on the sidelines of the Indonesia Petroleum Association conference, that the company was looking at both exports and selling to Indonesia. He said domestic gas prices had to be competitive but declined to give a specific number. The United Arab Emirates explorer expects to start gas production at Tangkulo-1 in its south Andaman block in late 2028. On Tuesday, it signed an initial agreement to supply gas to state fertiliser maker Pupuk Indonesia. Indonesia caps domestic gas prices for certain industries and power plants at $6.50-$7 per million British thermal units (mmBtu). Spot LNG prices in Asia were at $11.75 per mmBtu last week.
Reuters
21-05-2025
- Business
- Reuters
Indonesia's Pertamina has been importing Russian crude since last year
TANGERANG, Indonesia, May 21 (Reuters) - Indonesia's Pertamina has been importing Russian crude since last year to its refineries, the CEO of Pertamina's refinery unit said at a conference on Wednesday. "We have opened (to imports from Russia) since last May," Taufik Aditiyawarman, the CEO of the Kilang Pertamina International refinery unit, said to reporters on the sidelines of the Indonesian Petroleum Association conference. He added that they still comply with U.S. sanctions on Russian crude in place as a result of the Russia-Ukraine war. Amid an ongoing government probe into alleged corruption in oil imports between 2018 and 2023, he said that there may be some limitations for trading companies to join Pertamina's tenders. "We are in line with what the prosecutor's office is investigating. So we also have to be in line with them, there may be limitations on the number of traders who can be invited," Aditiyawarman said. On Monday, the Indonesian Attorney General's Office said it is trying to question some Singapore-based trading companies about the investigation into Pertamina's trading.
CNA
20-05-2025
- Business
- CNA
Petronas seeks Kutai Basin assets as part of planned Eni tie-up
TANGERANG, Indonesia : Malaysian state energy company Petronas wants to include oil and gas projects in Indonesia's Kutai Basin in its planned joint venture with Eni, an executive said on Tuesday. Petronas and the Italian oil major announced the proposed tie-up in February to manage some upstream assets in Indonesia and Malaysia, combining about 3 billion barrels of oil equivalent (boe) of reserves with exploration that could bring estimated additional reserves of 10 billion boe. The companies are in talks over which assets will be managed by the venture, the vice president responsible for Petronas's international assets told reporters on the sidelines of the Indonesia Petroleum Association conference. Petronas is aiming to swap interests in its assets in Malaysia and Indonesia with Eni's blocks in the Kutai Basin, Mohd Redhani Abdul Rahman said. "The idea is what we offer will complement the portfolio that Eni has here," he said. "So we will be part of development of all the discoveries in Kutai Basin with the funding we get from all the assets we bring in from Indonesia and Malaysia." An Eni spokesperson said the company was not able to make immediate comment. The Italian group's Kutai Basin assets include developments in the Northern and Gendalo-Gandang hubs, which have massive gas reserves. Talks on the assets to be included in the venture remain at an early stage, Redhani said, adding that Petronas will not include Indonesian assets only recently awarded to the company, such as the Binaiya and Serpang blocks.
CNA
20-05-2025
- Business
- CNA
Petronas says in talks with Pertamina, TotalEnergies for Bobara block partnership
TANGERANG, Indonesia : Malaysian state oil firm Petronas is in discussions with Indonesia's Pertamina and French energy group TotalEnergies to form a partnership for the development of the Bobara oil block in Indonesia, a senior Petronas executive said on Tuesday. The talks have been taking place since last year but no deal has been signed yet, Mohd Redhani Abdul Rahman, Petronas' vice president of international assets, told reporters on the sidelines of the Indonesia Petroleum Association conference. Petronas signed a production-sharing contract with the Indonesian government for the Bobara block last year. The block, which the government estimates has 6.8 billion barrels of oil equivalent, will be Petronas' first deep-water project in Indonesia as an operator, the company said last year.
