Testing of Profit and Loss Gross Split Scheme

Gross Split Scheme 

Wood Mackenzie, an international research institute, recently released a report about the latest innovations through the government scheme for gross proceeds or gross split for the upstream oil and gas.

And the report concluded that it was paid with gross profit sharing scheme, investors are increasingly reluctant to invest in Indonesia. Scheme for gross proceeds of the cooperation contract will bear its own costs. In contrast to the profit-sharing scheme cost recovery, the entire oil and gas production costs will be paid by the state.

With the issuance of Decree No. 8/2017, the government offers more flexible results with calculations more objective through incentives in the form of part (split) for government contractors bid start with our government and contractor respectively 57%: 43% for oil projects and 52%: 48% for the gas project.

Part contractor could still grow further adapted to challenges in the field via a variable for the results. In addition, the government also offers dynamic results are determined based on the level of oil prices and the accumulation of production. The government could divide part of the contractor a maximum of 5% if the economic field is still less attractive.

Johan Utama. analysts Wood Mackenzie said that there are some weaknesses scheme split compared to gross profit-sharing contract cost recovery current based on the report. First, the development of gas projects will be increasingly difficult. Because, to get the same economical with the current scheme, the contractor needs to cut costs by 30% for oil projects and 75% for gas projects in order to obtain economies of the same when using the cost recovery scheme.

Second, for the time investors will be waiting whether this policy will last a long time because it is set in the form of Regulation of the Minister of EMR because there is no certainty whether the change in the scheme will be accommodated in the revision of Law No. 22/2001 on Oil and Gas.

Thirdly, the scheme gross split makes Indonesia less appeal now that the fiscal problems become an obstacle to new investment that comes from the enlarged state and the contractor must bear its own costs.

Deputy Minister Anzandra Tahar said, the main purpose of the creation of gross split to cut the length of the process administration in the government that must be passed contractor of the search for oil and gas resources to the production period.

According to him, the time savings contributed in the economic calculations of the project. Currently the time required contractors to produce oil even more long despite increasingly sophisticated technology.

CROP OF BUREAUCRACY

Arcandra realize that this time is more difficult to get oil reserves. However, it is not only due to factors in the field are more difficult, but the process within the government that it makes oil and gas production slowed. In fact, the more sluggish the well or oil and gas field production, the time required to gain increasingly longer.

Governments have a greater part must have been reluctant to accept the risk of reduction in revenue due to the actual length of the process can be suppressed by the government.

Arcandra rate, there is an accelerated process that can be done with a gross split for upstream activities are no longer following corporate governance guidelines (PTK) Special Unit 007 of the Upstream Oil and Gas (SKK Migas). Meanwhile, Minister Ignatius Jonan said the oil and gas industry is actually controlled by the global market game because no one can predict with certainty that global crude oil prices.

Therefore, the efficiency being the only way for oil and gas companies to be able to win the competition in the sector. On the other hand, the government wants a more definite state revenues due to the result on a gross basis without counting cut operating costs. However, President Director of PT Medco Internasional Tbk Enelgi, Hilmi Panigoro said that all policies ultimately boils down to an assessment of whether quite attractive when compared with other countries. Because, all oil and gas companies in the upstream sector under pressure from declining oil prices and no one knows for sure the oil price movements.

Flexibility, infrastructure availability rates of return on capital through fiscal terms offered were quite safe in the volatility of oil prices during the contract runs. Additionally need political stability. Behind all the speculation which is true analysis of gross split, all will be answered after the government opened the bidding new work area in May 2017 and the continuation of the work area will be out of contract. Are large companies such as Chevron, ExxonMobil, Total, BP will IKT download queue in the offer being made?

If no interest in investing, there will be no activity to find new oil and gas sources. If there is no new oil and gas sources, there will not be a source of production and there will be no oil and gas are produced.

IN INDONESIAN

Menguji Untung Rugi Skema Gross Split

Wood Mackenzie, sebuah lembaga riset internasional, belum lama ini mengeluarkan laporan terbarunya soal inovasi pemerintah melalui skema bagi hasil kotor atau gross split bagi industri hulu minyak dan gas bumi.

Dan laporan berbayar itu disimpulkan bahwa dengan skema bagi hasil kotor, investor semakin enggan menanamkan modalnya di Indonesia. Skema bagi hasil kotor tersebut, kontraktor kontrak kerja sama akan menanggung biaya sendiri. Berbeda dengan skema bagi hasil cost recovery, seluruh biaya produksi migas akan dibayarkan oleh negara. 

Dengan dikeluarkannya Peraturan Menteri No. 8/2017, pemerintah menawarkan bagi hasil yang lebih fleksibel dengan perhitungan yang lebih objektif melalui insentif berupa bagian (split) bagi kontraktor Pemerintah memulai tawaran dengan bagian pemerintah dan kontraktor masing-masing 57% : 43% untuk proyek minyak dan 52% : 48% untuk proyek gas. 

Bagian kontraktor selanjutnya masih bisa bertambah yang disesuaikan dengan tantangan di lapangan melalui variabel bagi hasil. Selain itu, pemerintah pun menawarkan bagi hasil dinamis yang ditetapkan berdasarkan level harga minyak dan akumulasi produksi. Pemerintah bisa membagi bagian kontraktor maksimum 5% jika keekonomian lapangan masih kurang menarik.

Analis Wood Mackenzie Johan Utama mengatakan bahwa ada beberapa kelemahan skema gross split dibandingkan dengan kontrak bagi hasil cost recovery yang berlaku saat ini berdasarkan laporan itu. Pertama, pengembangan proyek gas akan semakin sulit. Pasalnya, untuk mendapatkan keekonomian yang sama dengan skema yang berlaku saat ini, kontraktor perlu memangkas biaya sebesar 30% untuk proyek minyak dan 75% untuk proyek gas agar bisa memperoleh keekonomian yang sama bila menggunakan skema cost recovery.

Kedua, untuk sementara waktu investor akan menanti apakah kebijakan ini akan bertahan lama karena hanya diatur dalam bentuk Peraturan Menteri ESDM karena belum ada kepastian apakah perubahan skema ini akan diakomodasi dalam revisi Undang-Undang No. 22/2001 tentang Minyak dan Gas Bumi.

Ketiga, skema gross split membuat indonesia semakin tidak memiliki daya tarik karena kini masalah fiskal menjadi penghambat baru berinvestasi yang berasal dari bagian negara membesar dan kontraktor harus menanggung sendiri biaya yang dikeluarkan. 

Wakil Menteri ESDM Anzandra Tahar mengatakan, tujuan utama diciptakannya gross split untuk memangkas lamanya proses administlasi di tubuh pemerintah yang harus dilalui kontraktor dari masa pencarian sumber migas hingga masa produksi.

Menurutnya, penghematan waktu turut memberikan kontribusi dalam perhitungan keekonomian proyek. Saat ini waktu yang diperlukan kontraktor untuk menghasilkan minyak justru semakin lama meskipun teknologi semakin canggih.

PANGKAS BIROKRASI

Arcandra menyadari bahwa saat ini jelas lebih sulit mendapatkan cadangan minyak. Namun, hal itu tidak hanya disebabkan faktor di lapangan yang semakin sulit, tetapi proses di lingkungan pemerintah yang ternyata membuat produksi migas semakin lamban. Padahal, semakin lamban sebuah sumur atau lapangan migas berproduksi, waktu yang dibutuhkan untuk mendapatkan keuntungan kian lama. 

Pemerintah yang memiliki bagian lebih besar pastinya enggan menerima resiko berkurangnya penerimaan negara akibat lamanya proses yang sebenarnya bisa ditekan sendiri oleh pemerintah.

Arcandra menilai, terdapat percepatan proses yang bisa dilakukan dengan gross split karena kegiatan hulu tidak lagi mengikuti pedoman tata kelola (PTK) 007 dari Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas). Sementara itu, Menteri ESDM Ignasius Jonan mengatakan, industri migas sebenarnya dikendalikan oleh permainan pasar global karena tidak ada satu pun yang bisa meramalkan secara pasti harga minyak mentah dunia.

Oleh karena itu, efisiensi menjadi satu-satunya cara bagi perusahaan migas untuk bisa memenangi persaingan di sektor itu. Di sisi lain, pemerintah menginginkan penerimaan negara yang lebih pasti karena bagi hasil dipotong secara kotor tanpa menghitung biaya operasi. Namun, Presiden Direktur PT Medco Enelgi Internasional Tbk, Hilmi Panigoro mengatakan, semua kebijakan akhirnya bermuara pada satu penilaian apakah cukup menarik bila dibandingkan dengan negara lain. Pasalnya, semua perusahaan migas di sektor hulu tertekan sejak menurunnya harga minyak dan tak ada yang mengetahui pasti gerak harga minyak. 

Fleksibilitas, ketersediaan infrastruktur angka pengembalian modal melalui syarat-syarat fiskal yang ditawarkan yang cukup aman dalam volatilitas harga minyak selama kontrak berjalan. Selain itu butuh stabilitas politik. Di balik semua spekulasi analisis mana yang benar tentang gross split, semua akan terjawab setelah pemerintah membuka penawaran wilayah kerja baru pada Mei 2017 dan kelanjutan wilayah kerja yang akan habis masa kontraknya. Apakah perusahaan besar seperti Chevron, ExxonMobil, Total, BP akan ikt ambil antrean dalam penawaran yang dilakukan?

Bila tidak ada yang minat berinvestasi, tidak akan ada kegiatan untuk mencari sumber migas baru. Bila tidak ada sumber migas baru, tidak akan ada sumber produksi dan tidak akan ada migas yang  dihasilkan.

Bisnis Indonesia, Page-30, Monday, March, 27, 2017

PNBP Migas Chance Raised

Rising commodity prices of crude oil up to around US $ 47 per barrel to make the government is optimistic that the results of non-tax revenue or non-tax revenues will also increase to close to the target in the Budget 2017.

In addition to prices creeping up, the increase in production (lifting) of crude oil and the strengthening of the rupiah against the US dollar helped reinforce the non-tax revenues from oil and gas. In Budget 2017, the contribution of non-tax revenues targeted to 14.3% of total revenues and 85.6% of tax revenues, and the remaining 0.1% of the grant.

There is a tendency of our oil and gas revenues will exceed the target in the budget, so that we will later revisions in the state budget, "said Director General of Budget, Ministry of Finance Askolani in Jacana, last weekend.

He admitted that the government not know what the value is definitely on the assumption has not been established. Askolani said it will decide on the final seconds before the state budget proposed changes. In Budget 2017, the government established oil and gas revenues from natural resources around Rp 63.7 trillion, assuming the Indonesian crude oil price (ICP) at US $ 45 per barrel.

However, the price of the main energy source in the world that actually has decreased to 13.8%. Economist at the Institute for Development of Economics and Finance (INDEF) Bhima Yudhistira proposed that the government does not need to rush to make revisions for oil demand in the global market is still low. "I suggest better moderate just like the budget target in 2017 [US $ 45 per barrel]."

If the government is not careful, he said that when the price of oil can be turned down and it is feared a huge effect on revenues. Currently the price of crude oil has fallen dramatically in the past week. Trimming China's economic projections and the US oil supply strong influence the decline in global oil prices.

In addition, he saw action the Organization of Petroleum Exporting Countries (OPEC) to cut production in order to hoist the oil prices to be temporary because the US back to producing massive oil.

Data Energy information Administration (EIA) showed the level of US oil production rose 20,000 barrels to the 9.13 million barrels per day (bpd). This figure is the highest level since February 2016. Indef projecting West Texas Intermediate (WTI) will move in the level of US $ 47 ~ US $ 48 per barrel this week.

SMALL CHANCE

The Indonesian Economist Economic Intelligence (IEI) Sunarsip support the government's move given the trend opportunities in oil prices to go back down to a level below US $ 40 a barrel is very small. Although OPEC has not received a clear commitment of some member states to cut production, OPEC steps he believes will happen this year.

By looking at the sentiment, he believes oil prices could rise to above $ 50 a barrel this year, although the condition is still likely to fluctuate. This spike will provide opportunities increase in non-tax revenues from oil and gas sector.

"I think the government's revised plan is no urgency from the beginning of time putting together a conservative because the target is too low on the other side of economic growth will be higher," he said.

IN INDONESIAN

PNBP Migas Berpeluang Dinaikkan

Kenaikan harga komoditas minyak mentah hingga ke kisaran US$ 47 per barel membuat pemerintah optimistis hasil penerimaan negara bukan pajak atau PNBP akan ikut meningkat hingga mendekati target dalam APBN 2017.

Selain harga yang merangkak naik, kenaikan produksi (lifting) minyak mentah dan menguatnya nilai tukar rupiah terhadap dolar AS turut memperkuat PNBP dari migas. Dalam APBN 2017, kontribusi PNBP ditargetkan 14,3% dari total penerimaan negara dan 85,6% dari penerimaan perpajakan, dan sisanya 0,1% hibah.

Ada tendensi penerimaan migas kita akan melebihi target di APBN, sehingga nanti akan kita revisi di APBN-P,” ujar Dirjen Anggaran Kementerian Keuangan Askolani di Jakana, akhir pekan lalu.

Dia mengakui pemerintah belum tahu berapa nilai pasti karena asumsinya belum ditetapkan. Askolani menuturkan pihaknya akan memutuskan pada detik-detik terakhir sebelum APBN Perubahan diusulkan. Dalam APBN 2017, pemerintah menetapkan penerimaan dari SDA migas sekitar Rp 63,7 triliun dengan asumsi harga minyak mentah Indonesia (ICP) sebesar US$45 per barel.

Namun, harga bahan sumber energi utama di dunia itu sebenarnya mengalami penurunan hingga 13,8%. Ekonom Institute for Development of Economics and Finance (Indef) Bhima Yudhistira mengusulkan pemerintah tidak perlu terburu-buru untuk melakukan revisi karena permintaan minyak di pasar global masih rendah. “Saya sarankan lebih baik moderat saja seperti target APBN 2017 [US$45 per barel].”

Jika pemerintah tidak hati-hati, dia menuturkan ketika harga minyak dapat berbalik turun dan dikhawatirkan memberi efek besar terhadap penerimaan. Saat ini harga minyak mentah turun drastis pada satu pekan terakhir. Pemangkasan proyeksi ekonomi China dan suplai minyak Amerika Serikat yang kuat turut mempengaruhi penurunan harga minyak global.

Selain itu, dia melihat langkah Organisasi Negara-negara Pengekspor Minyak (OPEC) untuk memangkas produksi demi mengerek harga minyak hanya bersifat temporer karena AS kembali memproduksi minyak besar-besaran.

Data Energy information Administration (EIA) AS menunjukkan tingkat produksi minyak AS naik 20.000 barel menuju 9,13 juta barel per hari (bph). Angka ini merupakan level tertinggi sejak Februari 2016. Indef memproyeksikan West Texas Intermediate (WTI) akan bergerak di level US$47~US$48 per barel pada pekan ini. 

PELUANG KECIL

Ekonom The Indonesia Economic Intelligence (IEI) Sunarsip mendukung langkah pemerintah mengingat tren peluang harga minyak untuk kembali turun ke level di bawah US$ 40 per barel sangat kecil. Meskipun OPEC belum mendapatkan komitmen yang jelas dari beberapa negara anggota untuk pemangkasan produksi, dia yakin langkah OPEC akan terjadi tahun ini.

Dengan melihat sentimen tersebut, dia yakin harga minyak bisa naik hingga di atas US$ 50 per barel pada tahun ini walaupun kondisi saat ini masih cenderung bergejolak. Lonjakan ini akan memberikan peluang kenaikan PNBP dari sektor migas.

“Saya kira rencana pemerintah melakukan revisi memang ada urgensinya dari awal waktu menyusun konservatif karena memasang target terlalu rendah di sisi lain pertumbuhan ekonomi akan lebih tinggi," tegasnya. 

Bisnis Indonesia, Page-4, Monday, March, 27, 2017

Government more relaxed about oil, gas imports

The government is looking to switch gears and focus on creating access to affordable oil and gas for the public by importing the commodities rather than holding onto domestic production to secure state revenue.

   Estimates that the consumption of petroleum will skyrocket have made the government consider boosting its imports if domestic prices prove too high for the public and the industrial sector.

Energy and Mineral Resources Minister lgnasius Jonan emphasized that the President Joko Widodo administration was more focused on supporting even economic growth and boosting global competitiveness rather than just generating revenue from oil and gas production.

“What’s most important for the country is to push for even economic growth and also for purchasing power to increase [...] if We have a large purchasing power, our productivity will increase and then We can take advantage of our natural resources as a prime mover of the economy,” he said

On the other hand, if oil and gas production decreases While consumption rises, the government will just import oil and gas to meet domestic needs. “That’s the basic gist of it,” he added casually. The government’s more relaxed attitude is due to the fact that the oil and gas sector is no longer a primary state revenue maker, with consistently low global crude oil prices and depleting oil reserves.

Last year, the government recorded Rp 262.4 trillion (US$ 19.69 billion) in total non-tax revenue, Rp 44.9 trillion of which came from the oil and gas sector. The sector’s contribution missed the government’s initial target of Rp 68.7 trillion in non-tax revenue.

Indonesia has been a net importer of oil for several years due to falling production, aging wells and a lacks of new discoveries with low interest on the part of business players to conduct exploration activities. The oil and gas sector has long been burdened as well by cost recovery a reimbursement scheme for exploration and exploitation activities conducted by contractors.

The latest data of the Central Statistics Agency (BPS) shows that oil and gas imports experienced a 10.61 percent year-on year (yoy) growth in value to $2.43 billion in February. Petroleum products made up the bulk of oil and gas imports with more than 60 percent, followed closely by crude oil with 30 percent.

To compensate for decreasing production and revenue, the government has made several efforts to improve the oil and gas sector’s investment climate. The Energy and Mineral Resources Ministry issued the new gross-split sliding scale to slowly replace cost recovery, which supposedly gives contractors much more freedom over their activities, but may also cause them to rein in their expenses.

The government is also in the midst of revising Government Regulation No. 79/2010 on cost recovery and tax treatment for firms working in the upstream oil and gas sector. At the same time, it has to tackle increasing consumption, while also compensating contractors for their expensive activities.

Domestic demand for oil in the country has been forecast to reach anywhere between 1.8 million and 2.29 million barrels of oil per clay (bopd) by 2025. Finance Ministry Budgeting Director General Askolani said Indonesia might be better off following in the footsteps of other countries, such as the United States and China, which preserved their oil reserves while oil prices were low.

“Our next challenge is whether to save any new oil reserves that we find and leave them for future generations. If import prices remain low, why do we have to go all out on exploration?” he said. The National Energy Board (DEN) estimates that oil and gas imports will be three times the current demand by 2025 and six times by 2050, Meanwhile, Satya W. Yudha, deputy chairman of House of Representatives Commission VII on energy, said it was important for the government to distinguish between energy self-suffciency and security.

The latter was much more important, he said, considering that global competitiveness was a priority of most countries around the globe. “It doesn’t matter if a country doesn’t even have any natural resources, so long as it can meet domestic demand at a competitive price,” he said.

Jakarta Post, Page-13, Saturday, March, 25, 2017

Oil and Gas Revenue Shrinking Dramatically

The Ministry of Finance (MoF) recognizes the state revenue from oil and gas (oil) decreased significantly in recent years. If earlier the sector was able to contribute more than Rp 300 trillion, today could drop to less than Rp 100 trillion.

Director General of Budget, Ministry of Finance Askolani explain the decline of state revenue from oil and gas drawn from the data of Ministry of Finance 2012-2016 period. In 2012-2014 the oil and gas sector revenue reached Rp 300 trillion. However, in 2016, the contribution of the oil and gas sector is only about Rp 80 trillion to Rp90 trillion.

Due to the oil and gas sector is currently the driver of the national economy, the decline in this sector give great influence to the state government budget (APBN) this country. Askolani add true total revenues in the oil and gas sector in 2012-2014 is not much different from the numbers subsidized fuel oil (BBM) and electricity provided by the government reached Rp350 trillion. When the government does not change in energy in 2015, of the burden of subsidies will erode state budget figures.

"Fortunately in 2015, the government subsidy policy change and electrical energy. If not changed, we are exhausted, "said Askolani, in the event of Economic Challenges, Special Energy Outlook Series on Energy Building, Jakarta

In addressing the decline in oil and gas sector, the Minister of Energy and Mineral Resources Ignatius Jonan found oil and gas industry, from upstream to downstream, rated to make efficiency. "The paradigm must exist adjustments. Now the oil and gas industry is no longer merely to sustain economic growth. The most important thing for the country, to encourage equitable economic growth and increased purchasing power, "said Jonan.

The cost efficiency of operations, said Jonan, is one way that can be done industrialists in the face of world oil prices. The reason, no party can predict oil prices world-awaited rose by businesses. "I want to ask, who set the price of oil and gas? No one could specify. Which can only global market. If not, we can determine the cost efficiency.

IN INDONESIAN

Pendapatan Migas Menyusut Drastis

Kementerian Keuangan (Kemenkeu) mengakui penerimaan negara dari sektor minyak dan gas (migas) menurun signifikan beberapa tahun belakangan. Jika sebelumnya sektor itu mampu berkontribusi lebih dari Rp 300 triliun, saat ini bisa anjlok ke bawah Rp 100 triliun.

    Direktur Jenderal Anggaran Kemenkeu Askolani memaparkan penurunan penerimaan negara dari sektor migas tergambar dari data Kemenkeu periode 2012-2016. Pada 2012-2014 penerimaan sektor migas mencapai Rp 300 triliun. Namun, di 2016, kontribusi dari sektor migas hanya sekitar Rp 80 triliun-Rp90 triliun.

    Karena sektor migas sampai Saat ini merupakan pendorong ekonomi nasional, penurunan di sektor ini memberikan pengaruh besar bagi anggaran pendapatan belanja negara (APBN) negeri ini. Askolani menambahkan sejatinya total penerimaan di sektor migas pada 2012-2014 sudah tidak jauh berbeda dengan angka subsidi bahan bakar minyak (BBM) dan listrik yang diberikan pemerintah mencapai Rp350 triliun. Ketika pemerintah tidak melakukan perubahan energi di 2015, tentu beban subsidi akan menggerus angka APBN.

“Untungnya pada 2015, pemerintah ubah kebijakan subsidi energi dan listrik. Kalau tidak diubah, habis kita,” ujar Askolani, dalam acara Economic Challenges, Special Energy Outlook Series, di Energy Building, Jakarta

Dalam menyikapi penurunan di sektor migas, Menteri Energi dan Sumber Daya Mineral Ignasius Jonan berpendapat pelaku industri migas, mulai hulu hingga hilir, dinilai harus melakukan efisiensi. “Paradigma harus ada penyesuaian. Sekarang industri migas tidak lagi semata-mata untuk menopang pertumbuhan ekonomi. Yang paling penting bagi negara, mendorong pertumbuhan ekonomi merata dan daya beli meningkat,” ucap Jonan.

Efisiensi biaya operasional, kata Jonan, ialah salah satu cara yang bisa dilakukan industrialis dalam menghadapi harga minyak dunia. Penyebabnya, tidak ada pihak yang bisa memprediksi harga minyak dunia yang dinanti-nanti

naik oleh pelaku usaha.  “Saya mau tanya, harga migas siapa yang tentukan? Tidak ada yang bisa tentukan. Yang bisa hanya market global. Kalau tidak bisa, yang kita bisa tentukan efisiensi biaya.

Media Indonesia, Page-17, Saturday, March, 25, 2017

Pertamina Inaugurate New VP Corporate Communication

Wianda Pusponegoro

    PT Pertamina officially inaugurated Adiatma Sardjito as Vice President of Corporate Communications or replaced company spokesman Wianda Pusponegoro. The inauguration was held Friday at the head office of Pertamina, Jakarta, and conducted by the Corporate Secretary of PT Pertamina Syahrial Mukhtar.

In his speech, Syahrial Mukhtar turnover positions are common and prevalent in every organization, especially for Pertamina is large and dynamic.

"Many of the challenges facing the future Pertamina to be dealt with holistically," said Syahrial. 

    The new spokesman Adiatma Pertamina Pertamina Sardjito a career employee who previously served as Corporate Secretary of PT Pertamina Gas from 8 April 2015-24 March 2017. 

    While Wianda Pusponegoro, who served as VP of Corporate Communication of March 11, 2015 - March 24, 2017, was placed in another business sphere precisely in the Directorate of Finance and Corporate Strategy Pertamina.

Meanwhile, Adim nicknamed Adiatma explains that he applied for the support of all parties to help Pertamina for the better.

"Please pray and support, many of the tasks mandated by the government to Pertamina and for us to finish together, through several projects both in the downstream and upstream in favor of energy independence," said Adiatma. 

    Adiatma Sardjito wants to improve the reputation of the company for the better. 

"I hope to help the publication of the world of Oil and Gas and Pertamina, what has been achieved both this year and in the future is improved. Besides that, it will continue what is already good,” said Adiatma Sardjito.

He also said it will study the ins and outs of the business Pertamina first before taking certain steps in performing its duties as a spokesperson. 

    Corporate Vice Wianda Pusponegoro Communication Pertamina also said the change of position in the company's State-Owned Enterprises (SOEs) is common. 

"Things like this are normal, and don't forget about other things, because this is purely a change for learning and experience," said Wianda.

Investor Daily, Page-9, Saturday, March 25, 2017

lnpex Asked to Perform Study Refinery in Two Island

Ministry of Energy and Mineral Resources (ESDM) asked Inpex Corporation immediately undertake an early review of the detailed design (prefront engineering design / pre-FEED) liquefied natural gas (liquefied natural gas / LNG) in two locations. The location of onshore refineries that have the Aru Islands and Island Jamdena.

Deputy Minister Arcandra Tahar said the request was submitted formally through a letter that was sent last week. The letter is a response from a letter the previous Inpex. "The decision remains. Pre-Feed is made to the capacity of two, two locations, "said Arcandra in Jakarta, Thursday (23/3).

Arcandra said the decision was taken with consideration of more profit. Rather than just doing an initial review in one location. Pre-feed aims to estimate the cost of investment and project construction schedule. Besides the capacity and location of the LNG plant, can only be ensured through the implementation of the Pre-FEED first. "Must be pre-feed both," he said.

He explained that there are two options Masela LNG plant capacity offered, ie 7.5 million tonnes per year, or 9.5 million tons per year. This option appears because of lack of agreement ration gas for petrochemical plant will be built near the Masela block. The government wants the petrochemical allocation amounting to 474-480 million standard cubic per day / MMSCFD, while Inpex proposes 150 MMSCFD.

Although the total gas production target remains the same even though there are two options it is around 10.2 to 10.3 million tons per year. "Start pre-feed, we engage the Ministry of Industry to build a start talking who buy gas," he said.

The government wants woke petrochemical industry in Indonesia. The reason, Indonesia has not had a petrochemical plant capable of converting gas to propylene and polyethylene. This prompted the Indonesian imports of this product to be quite large.

The government was targeting so that the final investment decision (final investment decision / FID) Masela can be implemented in 2019. Furthermore, the first block gas production is expected to flow in 2026.

At the end of March 2016 the government yesterday rejected the proposed revisions filed POD Inpex Masela. In the POD revision Masela with the development of floating LNG. Inpex was asked to resubmit the POD with the scheme as directed by the government.

IN INDONESIAN

lnpex Diminta Lakukan Kajian Kilang di Dua Pulau

Kementerian Energi dan Sumber Daya Mineral (ESDM) meminta Inpex Corporation segera melakukan kajian awal desain rinci (prefront engineering design / pre-FEED) kilang gas alam cair (liquefien natural gas/ LNG) di dua lokasi. Adapun lokasi kilang darat yang dipilih yakni Pulau Aru dan Pulau Jamdena.

Wakil Menteri ESDM Arcandra Tahar mengatakan permintaan tersebut disampaikan secara resmi melalui surat yang dilayangkan sejak pekan lalu. Surat tersebut merupakan jawaban dari surat Inpex sebelumnya. “Keputusannya tetap. Pre-Feed dilakukan untuk kapasitas dua, lokasi dua,” kata Arcandra di Jakarta, Kamis (23/3).

Arcandra menuturkan keputusan tersebut diambil dengan mempertimbangan lebih banyak keuntungan yang didapat. Ketimbang hanya melakukan kajian awal di satu lokasi saja. Pre-feed bertujuan mengestimasikan biaya investasi dan jadwal pengerjaan proyek. Selain itu kapasitas dan lokasi kilang LNG, hanya dapat dipastikan melalui pelaksanaan Pre-FEED terlebih dahulu. “Harus pre-feed dua-duanya,” ujarnya.

Dia menjelaskan terdapat dua opsi kapasitas kilang LNG Blok Masela yang ditawarkan, yakni 7,5 juta ton per tahun atau 9,5 juta ton per tahun. Opsi ini muncul karena belum adanya kesepakatan jatah gas bagi pabrik petrokimia yang bakal dibangun di dekat Blok Masela. Pemerintah menginginkan alokasi petrokimia sebesar 474-480 million standard cubic per day/mmscfd, sementara Inpex mengusulkan 150 mmscfd.

Walaupun total produksi gas yang ditargetkan tetap sama meski ada dua opsi itu yaitu sekitar 10,2-10,3 juta ton per tahun. “Start pre-feed, kami engage Kementerian Perindustrian untuk membangun mulai bicara siapa yang beli gasnya,” katanya.

Pemerintah ingin agar industri petrokimia terbangun di Indonesia. Pasalnya, Indonesia selama ini belum memiliki pabrik petrokimia yang mampu mengubah gas menjadi propilena dan polietilena. Hal ini mendorong impor Indonesia atas produk ini menjadi cukup besar.

Pemerintah sempat menargetkan agar keputusan investasi akhir (final investment decision/FID) Blok Masela dapat dilaksanakan pada 2019. Selanjutnya, produksi gas pertama blok ini diharapkan dapat mengalir pada 2026.

Pada akhir Maret 2016 kemarin pemerintah menolak usulan revisi POD Blok Masela yang diajukan Inpex. Dalam revisi POD itu masela dengan pengembangan kilang LNG terapung. Inpex pun diminta mengajukan kembali POD dengan skema sesuai arahan pemerintah.

Investor Daily, Page-9, Saturday, March, 25, 2017

Saudi Arabia's Oil Exports to the United States Decline

Exports of crude oil from Saudi Arabia to the United States in March 2017 fell to 300,000 barrels per day from February 2017. According to officials of the Department of Energy of Saudi Arabia, the move is in line with the OPEC agreement to cut global supplies.

According to data from the Energy Information Administration (EIA), United States, the superpower imports about 1.3 million barrels per day of the OPEC member countries in February 2017. "Total exports fluctuated from week to week, but the average exports in March will go down," EIA officials said.

Export data shows Saudi Arabia's oil exports in January and February is higher, even though it's loaded cargo shipping November and December.

Saudi Arabia has cut oil production on a large scale after reaching an agreement with OPEC and non-member OPEC oil producers last year. The agreement was approved to reduce the supply of 1.8 million barrels per day. Over the past two weeks, oil prices continue to decline because of concerns the amount of oil stocks. Oil prices declined nearly 10% since March 7 after an increase in supply.

The price of oil in the week had slumped 2.69% to US $ 47.98 a barrel on Friday (24/3). The price of oil for delivery in May 2017 from the previous weekend US $ 49.31. In this week oil prices fell the most in the event on Thursday (23/3) in the level of US $ 47.7 per barrel. This means that there is a slight increase in prices at the weekend. 

    United States became the world's largest oil consumer. EIA explained last week the US to absorb as much as 533 million barrels in the week. US imports from Saudi Arabia suddenly rose more than 200,000 barrels per day to 1.28 million barrels after declining dramatically in the previous week.

Potential oil exports from Saudi Arabia to the US will increase. "This is because the addition of an oil refinery in the US. Cutting exports will help stockpiling crude oil in the US is reduced," said EIA officials. However, officials believe the ekeportir will still adhere to the agreements made in the past year. Imports from Iran and Kuwait declined in the week ended March 10, 2017.

IN INDONESIAN

Ekspor Minyak Arab Saudi ke Amerika Serikat Menurun

Ekspor minyak mentah dari Arab Saudi ke Amerika Serikat pada Maret 2017 jatuh 300.000 barel per hari dari Februari 2017. Menurut pejabat Departemen Energi Arab Saudi, langkah ini sejalan dengan kesepakatan OPEC untuk mengurangi pasokan global.

Menurut data Administrasi Informasi Energi (EIA) Amerika Serikat, negara adidaya ini mengimpor sekitar 1,3 juta barel per hari dari negara anggota OPEC pada Februari 2017. "Jumlah ekspor berfluktuasi dari minggu ke minggu, tapi rata-rata ekspor Maret akan turun," kata pejabat EIA.

Data ekspor menunjukkan ekspor minyak Arab Saudi pada Januari dan Februari lebih tinggi, meski pengiriman kargo itu dimuat November dan Desember.

Arab Saudi telah memangkas produksi minyak secara besar-besaran setelah mencapai kesepakatan dengan OPEC dan produsen minyak non anggota OPEC pada tahun lalu. Perjanjian tersebut menyetujui mengurangi pasokan 1,8 juta barel per hari. Selama dua pekan terakhir, harga minyak dunia terus menurun karena adanya kekhawatiran jumlah stok minyak. Harga minyak menurun hampir 10% sejak 7 Maret setelah adanya peningkatan pasokan.

Harga minyak dalam sepekan telah merosot 2,69% menjadi US$ 47,98 per barel pada Jumat (24/3). Harga minyak tersebut untuk pengiriman Mei 2017 dari akhir pekan sebelumnya US$ 49,31. Dalam pekan ini harga minyak melemah paling dalam terjadi pada Kamis (23/3) yang berada di level US$ 47,7 per barel. 

    Ini artinya ada sedikit kenaikan harga di akhir pekan. Amerika Serikat menjadi konsumen minyak terbesar di dunia. EIA memaparkan pada pekan lalu AS menyerap sebanyak 533 juta barel dalam seminggu. Impor Amerika Serikat dari Arab Saudi tiba-tiba naik lebih dari 200.000 barel per hari menjadi 1,28 juta barel setelah menurun drastis dalam sepekan sebelumnya.

Potensi ekspor minyak dari Arab Saudi ke AS akan meningkat. "Hal ini karena penambahan kilang minyak di AS. Pemotongan ekspor akan membantu penimbunan minyak mentah di AS berkurang," kata pejabat EIA. Namun, para pejabat percaya para ekeportir tetap akan mematuhi kesepakatan yang dibuat pada tahun lalu. Impor dari Iran dan Kuwait menurun selama sepekan sampai 10 Maret 2017.

Kontan, Page-20, Saturday, 25, March, 2017

Gas PNBP 2017 Can Higher

The increase in world oil prices increase opportunities Tax State Revenue (non-tax). Directorate General of Budget, Ministry of Finance Askolani say, non-tax revenues from oil and gas will be even better in the future. "In the first two months of 2017, its revenue on track, oil and gas revenues higher than the same period last year.

In addition to rising world oil prices, production (lifting) Indonesian oil and the strengthening of the rupiah also boosted non-tax revenues from oil and gas sector. If in 2016 the realization of non-tax oil and gas sector reached Rp 44.9 trillion, Askolani sure, the realization of this year will be greater.

According Askolani, in addition to higher prices, lifting the oil in the past two months was also higher than the same period in 2016. There is a tendency to exceed the target of our oil and gas revenues in the state budget in 2017.

In Budget 2017, the government targets the oil and gas sector non-tax revenues of Rp 63.7 trillion, assuming the price of crude oil Indonesia (ICP) at US $ 45 per barrel. Target non-tax revenues in the state budget in 2017 is lower than the target of non-tax revenues of oil and gas in the 2016 revised budget of Rp 68.7 trillion with ICP assumption of US $ 40 per barrel.

According Askolani, PNBP additional potential oil and gas sector will be included in the revised budget 2017. According to him, the increase in world crude oil prices to $ 50 per barrel will be considered by the government to raise non-tax revenues of oil and gas in 2017. The revised budget value will be decided before the revised budget proposed by the government. We Never seen a trend of two months.

Economist Samuel Asset Management Lana Soelistianingsih asked the government not to rush to raise non-tax revenues from oil and gas. Because there is no risk of price uncertainty. If it turns out later on oil prices tend to fall, then there will be potential revenue below target as last year.

There are consequences trimmed spending again, he said. According to Lana, assuming the price of oil and gas and non-tax revenues in the state budget targets in 2017 is quite safe. He suggested the government was in the safe zone.

IN INDONESIAN

PNBP Migas 2017 Bisa Lebih Tinggi

Kenaikan harga minyak dunia membuka peluang peningkatan Penerimaan Negara Bukan Pajak (PNBP). Dirjen Anggaran Kementerian Keuangan Askolani bilang, PNBP dari migas akan semakin baik ke depannya. "Di dua bulan awal 2017, pendapatan-nya on the track, penerimaan migas lebih tinggi ketimbang periode sama di tahun lalu.

Selain kenaikan harga minyak dunia, produksi (lifting) minyak Indonesia dan penguatan nilai tukar rupiah juga mendorong kenaikan PNBP dari sektor migas. Jika pada 2016 realisasi PNBP sektor migas mencapai Rp 44,9 triliun, Askolani yakin, realisasi tahun ini akan lebih besar.

Menurut Askolani, selain harga yang lebih tinggi, lifting minyak dalam dua bulan lalu juga lebih tinggi dibandingkan periode sama tahun 2016. Ada tendensi penerimaan migas kita melebihi target di APBN 2017.

Dalam APBN 2017, pemerintah mentargetkan PNBP sektor migas Rp 63,7 triliun dengan asumsi harga minyak mentah Indonesia (ICP) sebesar US$ 45 per barel. Target PNBP dalam APBN 2017 lebih rendah dibandingkan target PNBP migas dalam APBNP 2016 yang sebesar Rp 68,7 triliun dengan asumsi ICP sebesar US$ 40 per barel.

Menurut Askolani, potensi tambahan PNBP sektor migas akan dimasukkan dalam APBNP 2017. Menurut dia, kenaikan harga minyak mentah dunia menjadi US $ 50 per barel akan menjadi pertimbangan pemerintah menaikkan PNBP migas dalam APBNP 2017. Nilainya akan diputuskan sebelum APBNP diusulkan pemerintah. Kita Iihat tren dua bulan.

Ekonom Samuel Asset Management Lana Soelistianingsih meminta pemerintah tidak buru-buru menaikkan PNBP dari migas. Sebab masih ada risiko ketidak pastian harga. Jika ternyata nantinya harga minyak cenderung turun, maka akan ada potensi penerimaan negara di bawah target seperti tahun lalu.

     Ada konsekuensi belanja dipangkas lagi, katanya. Menurut Lana, asumsi harga dan target PNBP migas dalam APBN 2017 cukup aman. Dia menyarankan pemerintah berada di zona aman.

Kontan, Page-2, Saturday, 25, March, 2017

Gas reception Drastic Decline

Need a Conducive Investment Climate Energy

Seen falling world oil prices have a significant effect on state revenues in the oil and gas sector. Directorate General of Budget, Ministry of Finance Askolani revealed, the decline recorded since 2012 up to now. In the span of 2012-2014, the oil and gas sector can contribute to state revenues of more than Rp 300 trillion per year. "But getting here is getting down. In fact, last year not to touch the revenues of Rp 100 trillion, only the range of Rp 80 trillion to Rp 90 trillion.

During this time the oil and gas sector is believed to be one of the foundation driving the national economy. With admission free fall in the sector, the pressure on the state budget was unavoidable. "In fact, every year it is spending always goes up.

He added that oil price fluctuations not only hit Indonesia. The same conditions suffered by other oil-producing countries such as Russia, Saudi Arabia, as well as the countries of the Middle East region. He cited the conditions in Saudi Arabia should take the fuel price increase to patch up the state treasury. Conditions that must be followed when the oil price was down.

Askolani continue, if in 2015 the government does not take energy reform policy, the subsidy burden will continue to erode the state budget. "Fortunately, in 2015 the government changed the policy of energy and electricity subsidies. If it is not modified Minister (Finance when it Bambang Brodjonogoro, Red), we run out.

In the same place, the Minister of Energy and Mineral Resources (ESDM) Ignatius Jonan not too worried about the decline of state revenue from oil and gas sector. Because, for him, the most important thing today is to encourage equitable economic pertumbuham and increase purchasing power.

According to the former minister of transportation, is currently the most important is how the industry can be more competitive one way to efficiency. "It's been growing in our thinking that natural resources and it can be expected that the largest to sustain economic growth. Now it is not merely more

so.

Medco boss Hilmi Panigoro agree with Jonan on the principle of efficiency in the utilization of energy resources. The important thing is how to keep the current oil and gas prices could provide added value to the country's economic growth rate.

IN INDONESIAN

Penerimaan Migas Merosot Drastis

Butuh Iklim Investasi Energi yang Kondusif

Jebloknya harga minyak dunia berpengaruh signifikan terhadap penerimaan negara di sektor migas. Dirjen Anggaran Kemenkeu Askolani mengungkapkan, penurunan tersebut tercatat sejak 2012 hingga kini. Pada rentang 2012-2014, sektor migas bisa memberikan kontribusi penerimaan negara hingga lebih dari Rp 300 triliun tiap tahun. "Tapi semakin ke sini semakin turun. Bahkan, tahun lalu penerimaannya tidak sampai menyentuh Rp 100 triliun, hanya dikisaran Rp 80 triliun sampai Rp 90 triliun.

Selama ini sektor migas dipercaya sebagai salah satu tumpuan penggerak ekonomi nasional. Dengan terjun bebasnya penerimaan di sektor tersebut, tekanan pada APBN pun tidak terhindarkan. ”Padahal, tiap tahun belanja itu selalu naik.

Dia menambahkan, Fluktuasi harga minyak tidak hanya memukul Indonesia. Kondisi yang sama diderita negara penghasil minyak lainnya seperti Rusia, Arab Saudi, serta negara-negara kawasan Timur Tengah. Dia mencontohkan kondisi di Arab Saudi yang harus menempuh kebijakan menaikkan harga BBM untuk menambal kas negara. Kondisi itu harus dijalani di saat harga minyak yang terus tercatat turun.

Askolani melanjutkan, jika pada 2015 pemerintah tidak menempuh kebijakan reformasi energi, beban subsidi akan terus menggerus APBN. "Untungnya, 2015 pemerintah mengubah kebijakan subsidi energi dan listrik. Kalau tidak diubah Pak Menteri (Menkeu ketika itu Bambang Brodjonogoro, Red), habis kita.

Di tempat yang sama, Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan tidak terlalu khawatir dengan kondisi penurunan penerimaan negara dari sektor migas. Sebab, bagi dia, yang terpenting saat ini adalah mendorong pertumbuham ekonomi yang merata dan meningkatkan daya beli masyarakat.

Menurut mantan menteri perhubungan tersebut, saat ini yang terpenting adalah bagaimana industri bisa semakin kompetitif salah satu caranya dengan efisiensi. "Sudah tumbuh dalam pemikiran kita bahwa sumber daya alam itu bisa dan diharapkan yang terbesar untuk menopang pertumbuhan ekonomi. Sekarang tidak semata-mata lagi

begitu.

Bos Medco Hilmi Panigoro setuju dengan pendapat Jonan tentang prinsip efisiensi dalam pemanfaatan sumber daya energi. Yang penting bagaimana agar harga migas saat ini bisa memberikan nilai tambah terhadap tingkat pertumbuhan ekonomi negara.

Jawa Pos, Page-5, Saturday, 25, March, 2017

Pertamina Delaying Dumai Refinery Maintenance

The company ensures the delay is not due to technical reasons.

PT Pertamina reschedule maintenance programs crude oil processing facility in Dumai, Riau, into June. Treatment was delayed a month of the initial plan, ie May. "It should indeed of May," said Pertamina processing director, Toharso.

Toharso said the treatment plant was delayed because it coincides with Ramadan which will begin in late May. He estimates that the treatment takes up to 30 days. He assured the delay was not due to technical reasons.

Toharso said his team had observed that this delay will not affect the performance of the refinery. Previously, he asserts refinery maintenance must be in accordance with the schedule. Because, if delayed, the refinery at risk of disruption. Pertamina noted, throughout 2016, there were 35 disruptions performance. According to him, the older the plant, the treatment should be implemented on time.

"The leak of the initial less detectable because the refinery is old age. There should be early detection. If leaked him from the beginning. "Balikpapan refinery, for example, at the beginning of last year had extinguished for more than 24 hours due to leakage of steam from the pipe generator Refineries began to actively slow the distillation units of crude oil (crude distillation unit) IV on January 16, 2017. the next day, the unit started production at steady at 150 thousand barrels per day (bpd) from a capacity of 186 bpd. Refinery Pertamina Balikpapan including vital infrastructure with a capacity of 260 thousand bpd.

This refinery is the biggest contributor of petroleum products the second largest after the Cilacap refinery. Its products are diverse, including fuel (diesel fuel, Pertamax, aviation fuel, kerosene), gas and petrochemicals (LPG, aromatic products), as well as intermediate products (naphtha, LSWR). In 2016, refinery production volume reached 90.3 million barrels.

Toharso said, the Balikpapan refinery is undergoing routine maintenance since 13 March. The treatment period is predicted to reach 40 days. Refinery production shortfall will be met from other additional production refinery. Pertamina also patch the production of imports. "Turn around for the next 40 days. It has just 10 days. "

The new facility is completed treatment Balongan refinery in West Java. The new company completed the process of the refinery maintenance in late February. Had circulated the news that the refinery experienced a death total (total black out). Toharso denied the rumors. According to him, after the refinery maintenance period indeed. can not operate normally. Therefore, the team must turn on the machines there gradually. The stage takes up to five days

"Maybe they need adjustment and synchronization of the past until refinery runs normar. So it was not a total black out, but start up after the turn around, "said Toharso.

Balongan refinery has a strategic role because it produces a gasoline product supplied to Jakarta and West Java. The current capacity is 125 thousand barrels per day.

IN INDONESIAN

Pertamina Menunda Perawatan Kilang Dumai

Perusahaan memastikan penundaan bukan karena alasan teknis.

PT Pertamina menjadwalkan ulang program perawatan fasilitas pengolahan minyak mentah di Dumai, Riau, menjadi Juni mendatang. Perawatan tertunda sebulan dari rencana awal, yaitu Mei. “Seharusnya memang Mei,”kata Direktur Pengolahan Pertamina, Toharso.

Toharso mengatakan perawatan kilang ditunda karena bersamaan dengan Ramadan yang akan dimulai akhir Mei nanti. Ia memperkirakan perawatan memerlukan waktu hingga 30 hari. Ia meyakinkan penundaan tersebut bukan karena alasan teknis.

Toharso mengatakan timnya telah meninjau bahwa penundaan ini tidak akan berdampak pada kinerja kilang. Sebelumnya, ia menegaskan perawatan kilang harus sesuai dengan jadwal. Sebab, jika molor, kilang berisiko mengalami gangguan. Pertamina mencatat, sepanjang 2016, terdapat 35 gangguan kinerja. Menurut dia, semakin tua usia kilang, perawatan harus dilaksanakan tepat waktu. 

“Kebocoran ini dari awal kurang terdeteksi karena usia kilang sudah tua. Seharusnya ada deteksi dini. Kalau bocor tahunya dari awal.”  Kilang Balikpapan, misalnya, pada awal tahun lalu sempat padam selama lebih dari 24 jam akibat kebocoran uap dari pipa generator Kilang mulai aktif secara perlahan pada unit distilasi minyak mentah (crude distillation unit) IV pada 16 Januari 2017. Besoknya, produksi di unit tersebut mulai stabil di angka 150 ribu barel per hari (bph) dari kapasitas sebesar 186 bph. Kilang Balikpapan termasuk prasarana vital Pertamina yang berkapasitas 260 ribu bph.

Kilang ini merupakan penyumbang produk bahan bakar minyak terbesar kedua setelah kilang Cilacap. Produknya beragam, antara lain BBM (solar, Pertamax, avtur, kerosin), gas dan petrokimia (elpiji, produk aromatik), serta produk antara (nafta, LSWR). Pada 2016, volume produksi kilang mencapai 90,3 juta barel.

Toharso menuturkan, saat ini kilang Balikpapan sedang menjalani perawatan rutin sejak 13 Maret lalu. Masa perawatan diprediksi mencapai 40 hari. Kekurangan produksi kilang akan dipenuhi dari produksi tambahan kilang lain. Pertamina juga menambal produksi dari impor. “Turn around selama 40 hari ke depan. Ini baru saja 10 hari."

Fasilitas yang baru selesai perawatannya adalah kilang Balongan di Jawa Barat. Perusahaan baru menyelesaikan proses perawatan kilang pada akhir Februari lalu. Sempat beredar kabar bahwa kilang mengalami mati total (total black out). Rumor tersebut dibantah Toharso. Menurut dia, kilang setelah masa perawatan memang. belum bisa beroperasi normal. Sebab, tim harus menghidupkan  mesin-mesin yang ada secara bertahap. Tahap tersebut memakan waktu hingga lima hari

“Mungkin mereka butuh penyesuaian dan sinkronisasi dulu sampai kilang berjalan normar. Jadi bukan total black out, melainkan start up setelah turn around,” tutur Toharso. 

Kilang Balongan memiliki peran strategis karena menghasilkan produk bensin yang dipasok untuk DKI Jakarta dan Jawa Barat. Kapasitasnya saat ini adalah 125 ribu barel per hari.

 Koran Tempo, Page-20, Friday, March, 24, 2017