The Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) announced that the realization of the oil and gas upstream business only reached US$3.7 billion as of May or 26 percent from the $14.2 billion targeted in the 2018 state budget.
The Mine 2018 report revealed that net profit of the world’s top 40 miners increased to $US61 billion ($79.7 billion), up 126 per cent, and is forecast to rise to $US76 billion in 2018. Market capitalisation of the group increased by 30 per cent to $US926 billion in 2017.
There are many reasons why the inc-cab Vehicle CCTV equipment is taking a foothold in transportation, mining, public transport and school buses, but safety is the primary reason. In developed countries the surveillance of public transportation, commercial vehicles, stations and terminals are just a matter of good business.
The perception of mining outside of the industry itself has not always been positive. In Australia, mining is a standout contributor to the local economy. During the global financial crisis of a decade ago, it was a crucial reason why Australia wasn’t as impacted as many nations around the world were.
Rio Tinto has confirmed that PT Indonesia Asahan Aluminium (Inalum) is interested in buying its share in the Grasberg copper-gold mine in Indonesia. Media reports have suggested that Rio Tinto is ready to accept a $3.5 billion deal for its interest in the Grasberg operation. “No agreement has been reached, and there is no certainty that binding agreements will be signed,” Rio Tinto stated.
Local fishermen in Samarinda Anchorage have been demonstrating against the Port Authority since 13th May 2018.
Under the planned $2.25 billion transaction, Adaro will take a 48 percent stake of Rio's current 80 percent interest in the mine, while its joint venture partner EMR Capital will take the remaining 52 percent.
Indonesia Coal Benchmark Price (HBA) for the month of June is set at $96.61 per tonne, up from $89.53 in May, energy ministry spokesman Agung Pribadi said on Monday. "The higher HBA was triggered by China's restricted coal production and impact of global oil price increase," Pribadi said.
Energy and Mineral Resources Minister Ignasius Jonan is optimistic the handover of 12 on-production oil and gas blocks is enough to give state-owned energy giant Pertamina a boost.
Global oil demand growth was a much heralded sidekick to supply cuts that rebalanced the market in record time. Now the Saudi Arabia-Russia pronged pact is considering reversing course on its output cut deal, while demand growth shows little sign of letting up.
Freeport McMoRan president and CEO Richard C. Adkerson arrived at the Energy and Mineral Resources Ministry on Friday at 11:20 a.m. for a meeting with the minister, although details on the meeting were not disclosed.