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Friday, December 8, 2017

Oil Prices Projected Stronger



The price of crude oil in 2018 is projected to be in the range of US $ 50-US $ 60 per barrel. Marjolijn Wajong, Executive Director of Indonesian Petroleum Association (IPA), said oil prices in 2018 are in the range of US $ 50-US $ 60 per barrel, but depend on the commitment of the Organization of the Petroleum Exporting Countries (OPEC) to reduce production.

Quoted from Commodity Market Outlook 2018 released Thursday (26/10), the World Bank estimates crude oil prices to reach US $ 60 per barrel in 2018 driven by rising demand and continuing OPEC production cuts.

The strengthening of oil prices is influenced by several things. First, the high demand and decrease of oil stock. Second, OPEC and non-OPEC countries commit to reducing oil production.

 "Will remain at US $ 50, US $ 60," he said on Wednesday (6/12).

He assessed that the rising oil prices will not directly boost exploration activities in Indonesia. According to him, the key to attract investment both in exploration activities and oil and gas exploitation is the attractiveness of Indonesia in the eyes of investors. Investments needed to find new sources of oil and gas reserves also increase national oil and gas production,

Based on the report of Global Petroleum Survey 2017, Indonesia ranks at the bottom of investment attractiveness. Of 97 countries, Indonesia is ranked 92th along with Ecuador in 93th position. Successive Iraq, Libya, Bolivia, and Venezuela are the most avoided investors of upstream oil and gas sector.

The survey was conducted from May to July 2017 involving 333 respondents from top executives from CEOs, President Directors, and directors, managers, advisers, negotiators, consultants, geologists and economists. From the survey, it was generated that Indonesia got a score of 35.02 or down from last year's score of 45.83 at number 79.

IPA President Ronald Gunawan said that throughout 2017 the association's cooperation with the government is good enough with a number of regulatory changes. For example, Minister of Energy and Mineral Resources Regulation no. 8/2017 on Production Sharing Contracts of Gross Split Result and its revision is Ministerial Regulation no. 52/2017.

In the next year, he said, the association will increase cooperation with the government to improve the investment competitiveness through six priority points. Another achievement is the issuance of Government Regulation no. 27/2017 on amendment to Government Regulation no. 79/2010 which regulates the treatment of income tax and refundable operating expenses.

The six points consist of taxes applied in gross split share contracts. Second, cross-ministerial and institutional licensing issues. Third, the continuation of the Oil and Gas Bill process. Fourth, the formulation of upstream gas prices that can support new investment.

Fifth, the rules on implementing the advanced dewatering activities (enhanced oil recovery (EOR). Sixth, the regulation on the application of supply and shareholding of the participation of 10% oil and gas blocks to the Regional Owned Enterprises (BUMD).

IN INDONESIA

Harga Minyak Diproyeksi Kian Menguat


Harga minyak mentah pada 2018 diproyeksikan akan berada di kisaran US$50-US$60 per barel. Direktur Eksekutif Indonesian Petroleum Association (IPA) Marjolijn Wajong mengatakan bahwa harga minyak pada 2018 berada di kisaran US$50-US$60 per barel, tetapi bergantung pada komitmen Organisasi Negara Eksportir Minyak (Organization of the Petroleum Exporting Countries/OPEC) untuk mengurangi produksi.

Dikutip dari Commodity Market Outlook 2018 yang dirilis Kamis (26/10), Bank Dunia memperkirakan harga minyak mentah mencapai US$ 60 per barel pada 2018 didorong oleh naiknya permintaan dan berlanjutnya komitmen pemangkasan produksi oleh OPEC.

Penguatan harga minyak dipengaruhi oleh beberapa hal. Pertama, tingginya permintaan dan penurunan stok minyak. Kedua, komitmen OPEC dan negara non-OPEC untuk mengurangi produksi minyak.

 “Akan tetap berada di US$50, US$60," ujarnya, Rabu (6/12).

Dia menilai, harga minyak yang mulai naik ini tidak akan Iangsung mendongkrak kegiatan eksplorasi di Indonesia. Menurutnya, kunci untuk menarik investasi baik pada kegiatan eksplorasi maupun eksploitasi migas adalah adanya daya tarik Indonesia di mata investor. Investasi dibutuhkan untuk mencari sumber-sumber cadangan baru penghasil migas juga meningkatkan produksi migas nasional,

Berdasarkan laporan Global Petroleum Survey 2017, peringkat Indonesia berada di urutan terbawah dari sisi daya tarik investasi. Dari 97 negara, Indonesia berada di peringkat 92 bersama Ekuador di posisi 93. Berturut-turut Irak, Libya, Bolivia, dan Venezuela sebagai negara yang paling dihindari investor sektor hulu migas.

Survei dilakukan mulai Mei hingga Juli 2017 dengan melibatkan 333 responden yang berasal dari petinggi perusahaan setara CEO, Presiden direktur, dan direktur, manajer, penasihat, negosiator, konsultan, geolog, dan ekonom. Dari survei tersebut, dihasilkan bahwa Indonesia mendapat skor 35,02 atau turun dari skor tahun lalu yakni 45,83 di urutan 79.

Presiden IPA Ronald Gunawan mengatakan bahwa sepanjang 2017 kerja sama asosiasi dengan pemerintah sudah cukup baik yakni dengan sejumlah perubahan regulasi. Sebagai contoh, Peraturan Menteri ESDM No. 8/2017 tentang Kontrak Bagi Hasil Hasil Gross Split dan revisinya yakni Peraturan Menteri No. 52/2017.

Pada tahun depan, dia menyebut, asosiasi akan meningkatkan kerja sama dengan pemerintah untuk meningkatkan daya saing investasi melalui enam poin prioritas. Pencapaian lainnya yakni keluarnya Peraturan Pemerintah No. 27/2017 tentang perubahan Peraturan Pemerintah No. 79/2010 yang mengatur tentang perlakuan pajak penghasilan dan biaya operasi yang bisa dikembalikan.

Keenam poin itu terdiri atas perpajakan yang diterapkan dalam kontrak bagi hasil kotor atau gross split. Kedua, masalah perizinan lintas kementerian dan lembaga. Ketiga, kelanjutan proses RUU Minyak dan Gas Bumi. Keempat, perumusan harga gas hulu yang bisa mendukung investasi baru. 

Kelima, aturan tentang implementasi kegiatan pengurasan lanjutan atau enhanced oil recovery (EOR). Keenam, regulasi tentang penerapan penawaran dan penanggungan saham partisipasi 10% blok migas kepada Badan Usaha Milik Daerah (BUMD).

Bisnis Indonesia, Page-30, Friday, Dec 8, 2017

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