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Tuesday, August 9, 2016

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JAKARTA (TheInsiderStories) - State owned airport operator PT Angkasa Pura II today (Aug. 9) started the operation of Terminal 3 Ultimate, which will boost the capacity of the airport. Currently, the Soekarno-Hatta Airport has the capacity of 22 million, however, in reality the flow of passengers have been much higher than that at average 54 million passengers per annum. With the expansion of the Terminal 3, the capacity of the airport has increased to 43 million passengers per year. With the expansion, the service level of Terminal 3 increased to grade B and C. Garuda Indonesia is the first airline to begin utilize the terminal today. (*)

 

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JAKARTA (TheInsiderStories) - Indonesia’s average natural gas output on July 30 stood at average 7,962 million standard cubic feed per day (mmscfd) compared with 7,985 mmscfd reported on June 30, Head of the Special Task Force for Upstream Oil and Gas (SKK Migas), Amien Sunaryadi says.

The Average oil production at the end of July was at 834,7000 bpd compared with 834,400 bpd in previous month. The government has set annual average oil production target of 820,000 bpd, while natural gas output target has been set at 6,440 mmscfd. Meanwhile, the regulator said that oil and gas industry received investment of $5.65 billion during the first of 2016. (*)

 

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JAKARTA (TheInsiderStories) - Indonesian foreign exchange (forex) reserves surge to US$111.4 billion in July, up 1.46 percent from $109.8 billion in June of 2016, Bank Indonesia (BI) reported on Friday. Bank Indonesia Governor Agus Martowardojo commented that the increase in forex reserves was a result, among others, of tax revenues and the governments oil and gas forex, BIs foreign exchange securities auction.
The reserves are sufficient to finance 8.5 months of imports or 8.2 months of imports and governments foreign debt payments, with the reserve also being above the standard international adequacy for approximately three months of imports. BI expects the forex reserve to help maintain external sector resilience to support and maintain the sustainability of economic growth in Indonesia in the future. (*)

 

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PT Go-Jek Indonesia has closed a $550m funding round from a consortium of global investment firms US Private equity firm KKR & Co. and Warburg Pincus LLC. Previously is reported is reported the the ride-hailing operator was reported in talks with potential investors to raise fresh funds. The company, which already operates in big Indonesian cities like Bandung and Surabaya, also plans to broaden its reach and add more drivers. Go-Jek is estimated need fresh funds $1.2 billion to expand their businesses. Founded in 2010, Go-Jek has since increased its services to food deliveries, cleaning and even massages and now has a network of more than 200,000 motorbike taxi drivers across the country.

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Global coal price soared to its highest level in 17 months after China decide to raise imports. The September contract price at the Rotterdam exchange stood at US$62.65 per ton, the highest since March 2015. In June, China raised its imports by 21.75 million tons, the highest since December 2014. In the first semester of this year, China’s coal import volume reached 108 million tons or growing 8.2 percent year on year. With that, the year-to-date coal price increase has reached 45.02 percent. In addition, other producing countries like Australia, Indonesia, and Colombia has begun lowering their coal outputs. Nevertheless, coal prices are still prone to correction as there are projections that the Federal Reserve will raise interest rates in quarter four. To cope with weak prices, the Indonesian Energy and Mineral Resources Ministry plans to release a moratorium on coal mining.

 

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