Gubernur Awang Percepat Kilang Bontang

     Provinsi Kalimantan timur menargetkan groundbreaking pembangunan megaproyek kilang minyak di kota Bontang dapat terlaksana pada 2017. Gubernur Kalimantan Timur Awang Faroek Ishak mengatakan pembangunan kilang minyak atau grass mot refinery (GRR) berkapasitas 300.000 barel per hari di Kota Bontang mulai dibangun pada tahun depan. Saat ini, sejumlah pihak berupaya untuk menuntaskan permasalahan lahan yang masih belum bersertifikat. Awang optimistis pembangunan kilang ini akan berdampak pada perekonomian Bumi Etam.

    Terlebih lagi, dia mengungkapkan, ada investor dari Korea Selatan yang ingin memindahkan industrinya ke Kalimantan Timur. Ini keunggulan kami dibandingkan dengan provinsi lain. Tak ada provinsi lain yang mempunyai dua kilang sekaligus. Ini yang harus didukung secara bersama-sama, kata Awang. Wali Kota Bontang Neni Moerniaeni menuturkan peraturan daerah tentang rencana detail tata ruang (RDTR) telah disahkan oleh pihak DPRD. Saat ini pihaknya masih mengkaji. rencana tata ruang wilayah (RTRW). Ada sebesar 40% zona yang tidak dapat dibebaskan karena dalam kawasan mangrove atau kawasan hijau. lni kami masih mencari cara apakah diganti wilayah mangrove atau bagaimana,” tuturnya.

    Dari luas 565 hektare lahan yang diperlukan dalam pembangunan kilang, saat ini lahan yang tersertifikasi baru mencapai 165 hektare. Sertifikasi lahan ini diusahakan oleh PT Badak LNG karena merupakan lahan negara yang berada di industri perusahaan tersebut. Kepala Badan Perencanaan dan Pembangunan Daerah (Bappeda] Kaltim Zairin Zain menuturkan dan 565 hektare lahan tersebut, lahan seluas 460 hektare telah dinyatakan clear. Lahan clear ini terdiri dari 4 zona yakni zona industri, zona hijau, mangrove, dan permukiman.

    Sisanya yakni 95 hektare masih belum clear secara RTRW-nya. Dari 460 hektare itu yang sudah disertifikasi 165 hektare, tetapi kata Badak LNG sudah bertambah yang clear 100 hektare,” ucapnya. Legal Specialist PT Badak LNG Hardi Bahruddin menambahkan berdasarkan aturan Menteri Keuangan No. 92/KMK.06/2008 tentang Penetapan Aset Eks Pertamina menjadi barang milik Negara lahan yang saat ini masih dalam proses disertifikasi. Pihaknya menargetkan hingga akhir Desember ini masalah sertifikasi lahan dapat terselesaikan. lokasi ini sudah lengkap dokumennya dan kami koordinasikan dengan Badan Pertanahan Nasional

    Kami targetkan bisa selesai akhir tahun ini,” katanya. Dedet Hendra, Vice President Production PT Badak LNG, meminta agar Pemerintah Provinsi dapat menutup Pulau Beras Basah yang saat ini menjadi objek wisata di kota Bontang. Pasalnya, Pulau Beras Basah ini merupakan Satu-Satunya pulau terluar dan berada dalam koordinat Daerah Lingkungan Kerja (DLKr) & Daerah Lingkungan Kepentingan (DLKp) Pelabuhan Tanjung Laut. Di pulau ini menjadi peruntukan sebagai penunjang sarana bantu navigasi pelayaran (SBNP) terkait dengan keamanan (ISPS Code) dan keselamatan pelayaran dalam wilayah pelabuhan tanjung laut dan terminal untuk kepentingan sendiri (TUKS) Badak LNG yang berada di tangan kewenangan Syahbandar Tanjung laut Kota Bontang.

    Situasi dan kondisi keamanan di Wilayah TUKS yang memenuhi ISPS Code harus selalu dalam kondisi terjaga sesuai dengan port facility security plan (PFSP) atau rancangan 'keamanan pelabuhan. “Termasuk Pulau Beras Basah yang masuk dalam rancangan keamanan alur pelayaran TUKS Pertamina Badak LNG,” katanya. Menurutnya, adanya kegiatan pariwisata di Pulau Beras Basah dapat mengganggu kondisi keamanan di mana jika kondisi keamanan tidak dipenuhi maka kapal LNG tidak bersedia masuk dan sandar ke dalam TUKS tersebut.

    Di wilayah tersebut, berdasarkan aturan harus clear dengan jarak 500 meter di sekitarnya agar tak mengganggu kapal yang akan masuk. Terlebih lagi, dengan adanya kilang Bontang ini tentu akan membuat trafik kapal menjadi ramai. Dalam posisi itu keselamatan diutamakan agar tidak ada tabrakan dengan kapal wisatawan maupun benda apapun. Itu karena posisinya sangat penting sebagai alur navigasi. Kalau posisinya belum aman ya kapal-kapal enggan masuk,” terang Dedet. Menanggapi hal tersebut, Gubernur Awang menegaskan Pulau Beras Basah harus tetap jadi tujuan wisata di  Bontang. “Wisata di Pulau Beras Basah itu dapat meningkatkan PAD kita. Jadi tidak benar terlambatnya bangun kilang karena Pulau Beras Basah.

IN ENGLISH

Governor Awang Accelerate Bontang
    East Kalimantan province is targeting the groundbreaking for construction of mega-projects in the oil refinery city of Bontang can be accomplished in 2017. East Kalimantan Governor Awang Faroek Ishak said the construction of an oil refinery or grass mot refinery (GRR) with a capacity of 300,000 barrels per day in Bontang started to be built in the next year. Currently, a number of parties attempt to resolve the problem of land that still has not been certified. Awang optimistic development of this refinery will have an impact on the economy of the Earth Etam.

    Moreover, he said, there is a South Korean investor who wants to move the industry to East Kalimantan. It's our advantage compared to other provinces. There are no other province that has two refineries at once. This should be backed up together, said Awang.  Bontang Mayor Neni Moerniaeni said local regulations on detailed spatial plan (RDTR) was approved by the Parliament. The company is still reviewing. spatial plan (RTRW). There is a 40% zone that can not be released because the mangrove areas or green areas. This we are still looking for ways if replaced mangrove area or how, "he said.

    Of the 565 hectares of land area required in the construction of refineries, currently certified land reached 165 hectares. Certification of this land cultivated by PT Badak LNG because it is state land located in the company's industry. Head of Planning and Regional Development (Bappeda] Kaltim  Zain Zairin said and 565 hectares of land, an area of ​​460 hectares have been declared clear, clear land consists of four zones namely industrial zones, green zones, mangrove, and the neighborhoods.

    The rest of the 95 hectares are still not clear as RTRW. Of the 460 hectares of the 165 hectares are already certified, but said Badak LNG already grown to clear 100 hectares, "he said. Legal Specialist PT Badak LNG Hardi Bahruddin added by rules Ministry of Finance No. 92 / KMK.06 / 2008 on Establishment Asset Former Pertamina became property of the state land, which is still in the process of being certified. It targets until the end of December this land titling problems can be resolved. This location is complete document and we coordinate with the National Land Agency

    We target to be completed later this year, "he said. Dedet Hendra, Vice President Production PT Badak LNG, requested that the provincial government may close Beras Basah island which now became a tourist attraction in the city of Bontang. Because, Beras Basah island. This is the Only the outer islands and is located in the Regional coordinates Working Environment (DLKr) & Environment Regions of Interest (DLKp) Port of Tanjung Sea. On this island into a designation as supporting aids Navigational (SBNP) related to security (ISPS Code) and the safety of shipping in the region harbor harbor marine and terminal for its own sake (Tuks) Badak LNG in the hands of the authority of the harbor master Tanjung sea Bontang.

    Situation and security conditions in the region that meets the ISPS Code Tuks should always be in the waking state in accordance with port facility security plan (PFSP) or a draft 'port security. "Including Beras Basah Pulau included in security plans Tuks Pertamina shipping lanes Badak LNG," he said. According to him, the tourism activities in Beras Basah Pulau can disrupt the security conditions in which if the security conditions are not met then the LNG vessels are not willing to enter and berth into the Tuks.

    In the region, based on the rule should be clear with a distance of 500 meters in the vicinity so as not to interfere with the boats going in. Moreover, with this Bontang refinery will certainly make traffic of ships being crowded. Safety takes precedence in that position so that no collision with the tourist boats or any objects. It was very important because of its position as the navigation flow. If the position is not safe yes vessels are reluctant to enter, "said Dedet. In response, Governor Awang insists Beras Basah island should remain a tourist destination in Bontang. "Tourism in Beras Basah islad it can increase our revenue. So not really a delay in getting up refineries for Beras Basah island.

Bisnis Indonesia, Page-11, Saturday, Dec,3,2016

MEDC Inorganic Aggressive Expansion

 PT Medco EnergiTbk (MEDC) more expansive acquire foreign assets are still potential. This year alone, MEDC has completed the acquisition of assets belonging to two foreign companies. The latest, in mid-November, MEDC announced that its subsidiary, Medco Natuna officially acquired ConocoPhillips Indonesia Inc.: Ltd (CIIL) and ConocoPhillips Singapore Operations Ple Ltd (CSOPN). Both are subsidiaries of US oil and gas giant, ConocoPhillips (COP).

    The total value of the acquisition was US $ 289 million, or more than Rp 3 trillion, which is divided into two separate transactions. The acquisition value of 100% of the shares CIIL of US $ 238 million. The acquisition value of 100% of the shares (ESOP worth US $ 1 million. CIIL owns the right of participation of 40% South Natuna Sea Block B (SNSB). CSop is a company that operates an onshore receiving facility in Singapore. On November 2 MEDC is also officially controlled over 50% PT Amman Mineral Investama, which owns 822% of the shares of PT Newnront Nusa Tenggara (NNT).

    AP Investment venture with Medco to spend US $ 2.6 billion for the success of this transaction. Medco has indeed been eyeing since 2015. Newmont president director of Medco Energi Muhammad Lutfi said the company's acquisition strategy to be able to keep growing in the midst of volatile oil prices. MEDC consider several factors, such as the opportunities, potential and economic price of the asset. To be considered for the acquisition is to prioritize experience.

    In terms of experience, the Indonesian oil company cleverness presence in onshore, said Lutfi. While the facilities and oil reserves in Indonesia mostly ofshore. With these considerations, Lutfi insists that MEDC would have to have the skills to thrive in Qffslwre. From 2015 lahun ago, we have been committed to active and more active involvement in Indonesia, as Medco was also active abroad. For example in Libya, in Yemen, "he said.

    Lutfi continued, sooth MEDC focus to offshore business has been run since 2015 ago. In November last year, Medco overhaul the board of directors and filled with people who have experience in offshore, because we had to be victorious in the sea, "said Lutfi. Completion of the acquisition of CIIL and CSop is a series of business MEDC for walking achieve the objectives. As energy company, Medco is still basing its business on the upstream oil and gas.

    Lutfi said, do not rule out the possibility that the issuer of this energy sector will go into the downstream sector. He acknowledged that the companies belonging to the Group this Panigoro was eyeing business opportunities downstream energy. MEDC refinery had planned to move from Taiwan to Indonesia. However, we see that the downstream business is very sensitive to the economics, the margin is very thin and is directly in contact with the government, "said Lutfi.

    However, Lutfi see step Medco Energi downstream sector will run naturally and inevitably will occur. Therefore, he says that the downstream is one of Medco's commitment in the future. definitely the incident, but not yet. It's a matter of time. If there are certain reserves, we will perform. downstream is our commitment, "said Lutfi.

IN INDONESIA

MEDC Gencar Ekspansi Anorganik

    PT Medco Energi Tbk (MEDC) kian ekspansif mengakuisisi aset-aset asing yang masih potensial. Tahun ini saja, MEDC telah menyelesaikan dua akuisisi aset milik perusahaan asing. Terbaru, pertengahan November lalu, MEDC mengumumkan bahwa anak usahanya, Medco Natuna resmi mengakuisisi ConocoPhillips Indonesia Inc: Ltd (CIIL) dan ConocoPhillips Singapore Operations Ple Ltd (CSOPN). Keduanya merupakan anak perusahaan dari raksasa minyak dan gas AS, ConocoPhillips (COP).

    Total nilai akuisisinya mencapai US$ 289 juta, atau lebih dari Rp 3 triliun, yang terbagi dalam dua transaksi terpisah. Nilai akuisisi 100% saham CIIL sebesar US$ 238 juta. Nilai akuisisi 100% saham (ESOP senilai US$ 1 juta. CIIL merupakan pemilik hak partisipasi 40% South Natuna Sea Blok B (SNSB). CSOP adalah perusahaan yang mengoperasikan onshore receiving facility di Singapura. Pada 2 November lalu MEDC juga resmi menguasai 50% saham PT Amman Mineral lnvestama, yang menguasai 822% saham PT Newnront Nusa Tenggara (NNT).

    Berkongsi dengan AP Invesment, Medco merogoh kocek US$ 2,6 miliar untuk menyukseskan transaksi ini. Medco memang telah mengincar Newmont sejak 2015. Presiden Komisaris Medco Energi Muhammad Lutfi mengatakan, pihaknya menerapkan strategi akuisisi untuk bisa tetap tumbuh di tengah kondisi harga minyak yang volatil. MEDC mempertimbangkan beberapa faktor, seperti kesempatan, potensi, dan harga keekonomian aset. Yang dipertimbangkan untuk akuisisi adalah memprioritaskan pengalaman.

    Dari segi pengalaman, perusahaan minyak Indonesia itu kepandaiannya adanya di onshore, kata Lutfi. Sementara fasilitas dan cadangan minyak yang ada di Indonesia kebanyakan ofshore. Dengan pertimbangan tersebut, Lutfi menegaskan bahwa MEDC tentunya harus memiliki kemahiran untuk berkembang di Qffslwre. Dari Lahun 2015 lalu, kami sudah berkomitmen untuk aktif dan lebih aktif Iagi di Indonesia, karena Medco sempat aktif di luar negeri. Misal di Libia, di Yaman," ujar dia.

    Lutfi melanjutkan, kesungguhan MEDC fokus ke bisnis offshore ini sudah dijalankan sejak tahun 2015 lalu. Pada November tahun lalu, Medco merombak jajaran direksi dan mengisinya dengan orang-orang yang memiliki pengalaman di offshore, ini karena kami memang harus jaya di laut," tegas Lutfi. Rampungnya akuisisi CIIL dan CSOP adalah rangkaian dari usaha MEDC untuk berjalan mencapai tujuan. Sebagai perusahaan energi, saat ini Medco masih mendasarkan bisnisnya pada hulu migas.

    Lutfi bilang, tidak menutup kemungkinan bahwa emiten sektor energi ini akan masuk ke sektor hilir. Dia mengakui bahwa perusahaan milik Grup Panigoro ini sempat melirik peluang bisnis hilir energi. MEDC sempat berencana memindahkan refinery dari Taiwan ke Indonesia. Namun, kami melihat bahwa bisnis hilir sangat sensitif keekonomiannya, marginnya sangat tipis dan bersinggungan langsung dengan pemerintah," ujar Lutfi.

    Meski begitu, Lutfi melihat langkah Medco Energi ke sektor hilir akan berjalan secara alami dan pasti akan terjadi. Maka dari itu, ia mengatakan bahwa hilirisasi merupakan salah satu dari komitmen Medco di masa datang. Pasti kejadian, tetapi belum. Itu masalah waktu saja. Bila ada cadangan-cadangan tertentu, kami akan laksanakan. Hilirisasi adalah komitmen kami," pungkas Luthfi.

Kontan, Page-4, Saturday, Dec,3,2016

Pertamina-Aramco Undurkan Kesepakatan

    Pembentukan perusahaan patungan proyek pengembangan kilang (refinery development master plan/RDMP) Cilacap, Jawa Tengah antara PT Pertamina dan Saudi Aramco mundur hingga akhir tahun. Direktur Megaproyek Pengolahan dan Petrokimia Pertamina, Rachmad Hardadi, mengatakan keputusan tersebut merupakan hasil pertemuan dua pemimpin perusahaan pada 24 November lalu. “Kami sepakat HOA (head
of agreement atau nota perjanjian) diperpanjang sampai 31 Desember” kata dia.

    Menurut Rachmad, masih ada satu dari empat klausul yang belum disepakati Saudi Aramco. Tapi, untuk menghindari kesalahpahaman, Rachmad enggan menyebutkan poin tersebut. Dia berharap Saudi Aramco menyepakati seluruh klausul itu, sehingga pembentukan perusahaan patungan PT Pertamina dan Saudi Aramco untuk Kilang Cilacap bisa segera terwujud. Sampai saat ini, Aramco belum mengubah porsi kepemilikan kilang RDMP Cilacap. Pertamina menguasai 55 persen saham proyek senilai US$ 4,5 miliar dan sisanya dimiliki Aramco.

    Dengan proyek ini, kapasitas produksi Kilang Cilacap meningkat dari 348 ribu barel per hari (bph) menjadi 370 ribu bph dan menghasilkan bahan bakar minyak standar Euro 5. RDMP Cilacap merupakan satu dari beberapa proyek pengembangan kilang Pertamina selain Balongan dan Balikpapan. Untuk kilang Balikpapan, Pertamina dan PT Wijaya Karya (WIKA) telah menandatangani kontrak pengembangan dan konstruksi sandar kapal RDMP Refinery Unit V Proyek ini berupa persiapan lahan area pembangunan infrastruktur kilang 75 hektare, pembangunan area sandar kapal berukuran 30 X 100 meter berkapasitas 6.500 deadweight tonnage (DWT), serta pembangunan prasarana jalan dan gedung hingga peralatan perkapalan.

    Rachmad menargetkan proyek dapat beroperasi pada September 2019. Kapasitas Kilang Balikpapan akan meningkat dari 260 ribu bph menjadi 360 bph. Direktur Operasi WIKA Bambang Pramudjo mengatakan, proyek akan selesai tepat waktu. Dari nilai proyek, tidak terlalu signifikan, tapi strategis.

IN ENGLISH

Pertamina-Aramco stepped Agreement

    The formation of a joint venture refinery development project (refinery development master plan / RDMP) Cilacap, Central Java between PT Pertamina and Saudi Aramco delayed until the end of the year. Processing and Petrochemical megaproject Director of Pertamina, Rachmad Hardadi, said the decision was a result of the meeting of two leaders of the company on November 24 last. "We agreed HOA (head
of agreement or memorandum of agreement) was extended until December 31, "he said.

    According to Rachmat, there is still one of the four clauses that have not been agreed upon Saudi Aramco. But, in order to avoid misunderstandings, Rachmad reluctant to mention these points. He hoped Saudi Aramco agree that all clauses, so that the formation of a joint venture company PT Pertamina and Saudi Aramco for the Cilacap refinery could be realized. Until now, Aramco has not changed ownership RDMP Cilacap refinery. Pertamina controlled 55 percent stake in a project worth US $ 4.5 billion and the rest is owned Aramco.

    With this project, the Cilacap refinery increased production capacity of 348 thousand barrels per day (bpd) to 370 thousand bpd and produces fuel oil RDMP Cilacap Euro 5 standard is one of several development projects in addition Balongan oil refineries and Balikpapan. For Balikpapan refinery, Pertamina and PT Wijaya Karya (WIKA) has signed a contract for the development and construction of the ship docked RDMP Refinery Unit V The project is in the form of land preparation area of ​​infrastructure development plant 75 hectares, the construction area of ​​the ship docked measuring 30 x 100 meters with a capacity of 6,500 deadweight tonnage ( DWT), as well as road infrastructure development and building up of shipping equipment.

    Rachmad project is targeting to operate in September 2019. Balikpapan refinery capacity will increase from 260 thousand bpd to 360 bpd. Director of Operations WIKA Pramudjo Bambang said, the project will be completed on time. Of the project value, not too significant, but strategic.

Koran Tempo, Page-17, Friday, Dec,2,2016

Jokowi: Freezing OPEC Members is No Problem

    President Joko Widodo believes the government's decision to temporarily freeze Indonesia's membership in the Organization of the Petroleum Exporting Countries (OPEC) will not cause problems. According to the President, the decision was taken to secure the State Revenue and Expenditure Budget (APBN).

"If you have to leave, there's no problem," said Jokowi, after opening the National Leadership Meeting of the Indonesian Chamber of Commerce and Industry, in Jakarta.

    Indonesia decided to temporarily suspend its membership in OPEC during the organization's 171st session in Vienna, Austria. The government delegation, Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan, said Indonesia left because the OPEC meeting decided to reduce crude oil production to 1.2 million barrels per day (BPD) excluding condensate. OPEC asked Indonesia to cut domestic oil production by 5 percent (equivalent to 37,000 barrels per day).

    In fact, the need for state revenue is large, and in the 2017 State Budget Plan, it is agreed that oil production in 2017 will only decrease by 5,000 barrels compared to production in 2016," said Jonan, in a written statement.

OPEC said the production cuts would take effect in January 2017. Russia, which is not an OPEC member, agreed to cut its oil output to restore slumping world oil prices. According to Jonan, for Indonesia, which has been an oil importer since 2003, the OPEC agreement is not profitable. This is because production cuts will lead to price increases.

    The President assessed that the temporary suspension of Indonesia's membership in OPEC was appropriate to protect the state budget. In addition, the suspension of membership in OPEC is not a new issue for Indonesia. We used to be members and never become members. We enter again because we want information on price fluctuations and stocks in each country," said the President.

Indonesia once left OPEC in 2008 and entered again in 2015. Coordinating Minister for the Economy Darmin Nasution believes that Indonesia's exit from OPEC will have a good impact on state revenues.

    This is because the role of Indonesia's oil production is not significant to international oil conditions. If we are outside, it's not too different," he said.

 

According to Darmin, the only advantage of being a member of OPEC is the negotiation of world oil production and prices. Member of the House of Representatives Energy Commission Kurtubi predicts the OPEC agreement is just a tactic to influence market psychology without realizing it.

    Moreover, Indonesia was only asked to cut 37 thousand barrels per day. If we don't reduce production, it won't affect prices either," he said.

    But Kurtubi supported the government's decision to temporarily freeze OPEC membership instead of leaving permanently. This is because Indonesia still needs information on industrial developments and oil prices from OPEC. He advised the government to be aware of the potential for price increases.

Koran Tempo, Page-6, Friday, Dec 2,2016

Cabut dari OPEC untuk Keseimbangan APBN

    Presiden Joko Widodo mengatakan keputusan Indonesia keluar sementara dari Organisasi Negara-Negara Pengekspor Minyak (OPEC) untuk menyeimbangkan kondisi anggaran pendapatan dan belanja negara (APBN). Kalau memang kita harus keluar Iagi, juga tidak ada masalah,” kata Presiden menjawab pertanyaan seusai membuka acara Rapat Pimpinan Nasional (Rapimnas) Kamar Dagang dan Industri (Kadin) Indonesia di Hotel Borobudur, Iakarta, kemarin. Presiden menjelaskan Indonesia bukan kali ini saja keluar dari OPEC.

    Pembekuan pertama pada 2008 dan efektif berlaku 2009. Indonesia kembaIi aktif sebagai anggota OPEC pada awa12016. Keputusan Indonesia membekukan sementara (temporary suspend) keanggotaan OPEC diambil dalam Sidang ke-171 OPEC di Wina, Austria, Rabu (30/11) waktu setempat. Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan yang menghadiri sidang tersebut menjelaskan Iangkah pembekuan diambil setelah sidang memutuskan memotong produksi minyak mentah sebesar 1,2 juta barel per hari di luar kondensat. Sidang juga meminta Indonesia memotong sekitar 5% dari produksinya atau sekitar 37 ribu barel per hari.

    Padahal, kebutuhan penerimaan negara masih besar dan pada RAPBN 2017 disepakati produksi minyak di 2017 turun 5.000 barel jika dibandingkan dengan 2016,” jelas jonan. Jonan menambahkan, sebagai negara net importer minyak (crude oil), pemotongan kapasitas produksi ini tidak menguntungkan Indonesia karena harga minyak secara teoretis akan naik. Menko Perekonomian Darmin Nasution memastikan keputusan Indonesia tidak ada masalah karena peranan produksi minyak nasional untuk internasional tidak banyak.

    Menko Bidang Maritim Luhut B Pandjaitan mengatakan, dengan pembekuan itu Indonesia hemat US$2 juta per hari. Kalau kita ikut, produksi kita terpotong 37 ribu bph. Itu setara dengan US$2 juta per hari. Buat APBN, itu sangat berpengaruh. Direktur Eksekutif Reforminer Institute Komaidi Notogegoro mengapresiasi keputusan tersebut, “Ibaratnya kita pakai motor matic, tapi ikut perkumpulan motor gede,” ujarnya. Menurutnya, kewajiban penurunan produksi hingga 37 ribu bph itu pasti memberatkan Indonesia.

IN ENGLISH

Unplug from OPEC to balance the budget

    President Joko Widodo said Indonesia's decision temporarily out of the Organization of Petroleum Exporting Countries (OPEC) to balance the state budget revenue and expenditure (APBN). If indeed we have to get out involvement, is also no problem, "the President answered questions after opening the National Executive Meeting (Rapimnas) Chamber of Commerce and Industry (Kadin) Indonesia at Hotel Borobudur, Iakarta yesterday. The president explained that Indonesia not the first time out of OPEC.

    Freezing the first in 2008 and became effective 2009. Indonesia kembaIi active as a member of OPEC in awa12016. Indonesia's decision to freeze temporarily (temporary suspension) OPEC membership was taken in a 171 Session of OPEC in Vienna, Austria, on Wednesday (30/11) local time. Minister of Energy and Mineral Resources (ESDM) Ignatius Jonan who attended the session to explain Iangkah freezing taken after the hearing decided to cut crude oil production by 1.2 million barrels per day out of condensate. The trial also asked Indonesia to cut about 5% of its production, or about 37 thousand barrels per day.

    In fact, the state revenue needs are still great, and the 2017 draft budget agreed in 2017 oil production fell to 5,000 barrels when compared to 2016, "explains jonan. Jonan added, as a net importer of oil (crude oil), this production capacity cuts do not benefit Indonesia because theoretically the price of oil will rise. CMEA Nasution Indonesia's decision ensures there is no problem because the role of national oil production to an international not much.

    Coordinating Minister of Maritime Luhut B Pandjaitan said the freezing of the Indonesia-saving US $ 2 million per day. If we participate, we cut off the production of 37 thousand bpd. That's the equivalent of US $ 2 million per day. Create a Budget, it was very influential. Executive Director of the Institute Komaidi Reforminer Notogegoro appreciate the decision, "It was like we used motor matic, but going to a bevy of big motor," he said. According to him, the duty reduction in production to 37 thousand barrels per day was definitely burdensome Indonesia.

Media Indonesia, Page-2, Friday, Dec,2,2016

RepubIic Indonesia Backs out of OPEC Amid Production Cut

    Indonesia has temporarily with drawn from the Organization of the Petroleum Exporting Countries (OPEC) following the group’s decision to cut production by 1.2 million barrels of 'oil per day (bopd) next year. During the 1715i OPEC conference in Vienna, Austria, on Wednesday its members agreed to reduce its output to a ceiling of 32.5 million bopd starting next January to re-balance the market, which has long suffered from oversupply.

    With the move, Indonesia is subject to lower its production by 5 percent, or around 37,000 bopd from next year’s target of 815,000 bopd, much higher than it can tolerate at 5,000 bopd for next year. President Joko “Jokowi” Widodo said although Indonesia reactivated its OPEC membership earlier this year, which he claimed aimed at knowing the crude stock conditions of each member country Indonesia opted to freeze its membership to focus on its state budget.

    Due to our need to fix our state budget, we don’t find it a problem at all if we leave again,” he said on Thursday Energy and Mineral Resources Minister Ignasius Jonan said slashing production would affect state revenues obtained from the oil and gas industry. “The need for state revenues is still great and the production target in the 2017 state budget draft is already a 5,000 barrel reduction from the one in 2016,” he said in a press statement. The Finance Ministry aims to collect tax and non-tax revenues from the oil and gas sector of Rp 101.93 trillion (US$7.5 billion) next year.

    Jonan further explained that as a net importer, it would not be beneficial for Indonesia to reduce its production as it would increase the price of crude. Separately, Finance Minister Sri Mulyani Indrawati said OPEC’s move to cut production would positively affect state revenue, although she admitted that the membership suspension had not been discussed between the two ministries since. “OPEC was very last minute, so there was an element of surprise. I have not spoken to Jonan,” she said.

    This is the second time Indonesia has suspended its OPEC membership, which requires it to pay 1.2 million annually. It initially made the move in 2008 and only reactivat- ed its afliliation early this year. The country was first forced to suspend its active engagement in the oil cartel almost a decade ago after it shifted its status from a net exporter to importer of crude oil to fulfill national refined fuel demand of around 1.6 million bopd. The latest data from the Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) indicated that domestic ready-to-sell production, locally known as lifting, reached around 830,000 bopd, only slightly higher than this year’s target of 820,000 bopd.

    Indonesian Chamber of Commerce and Industry (Kadin)’s deputy chairman for the oil and gas sector, Bobby Gafur Umar, said OPEC’s efforts to boost prices by cutting its output would positively affect the oil and gas industry as the higher value would encourage exploration activities to be bountiful once again. “Sure, the industries that need oil might feel the heat. However, the oil and gas industry has been half dead for the past three years and we hope that there will be more exploration once crude becomes more economical again,” he said.

IN INDONESIA

Republik Indonesia  Keluar dari OPEC di tengah Pemotngan Produksi

    Indonesia untuk sementara ditarik dari Organisasi Negara Pengekspor Minyak (OPEC) menyusul keputusan kelompok untuk memangkas produksi sebesar 1,2 juta barel 'minyak per hari (bopd) tahun depan. Selama konferensi OPEC 171 di Wina, Austria, Rabu anggotanya sepakat untuk mengurangi output nya dari 32,5 juta bopd mulai Januari mendatang untuk kembali menyeimbangkan-pasar, yang telah lama menderita kelebihan pasokan.

    Dengan langkah tersebut, Indonesia tunduk menurunkan produksi sebesar 5 persen, atau sekitar 37.000 bopd dari target tahun depan dari 815.000 bopd, jauh lebih tinggi daripada yang dapat mentolerir di 5.000 bopd untuk tahun depan. Presiden Joko "Jokowi" Widodo mengatakan meskipun Indonesia diaktifkan kembali keanggotaan OPEC awal tahun ini, yang ia mengklaim bertujuan untuk mengetahui kondisi stok minyak mentah dari masing-masing negara anggota Indonesia memilih untuk membekukan keanggotaan untuk fokus pada APBN-nya.

    Karena kebutuhan kita untuk memperbaiki anggaran negara kita, kita tidak menemukan masalah sama sekali jika kita pergi lagi, "katanya, Kamis Menteri Energi dan Sumber Daya Mineral Ignasius Jonan mengatakan pemotongan produksi akan mempengaruhi pendapatan negara yang diperoleh dari minyak dan gas industri. "Kebutuhan untuk penerimaan negara masih besar dan target produksi dalam rancangan anggaran 2017 negara sudah pengurangan 5.000 barel dari satu pada 2016," katanya dalam keterangan pers. Departemen Keuangan bertujuan untuk mengumpulkan pajak dan non-pajak pendapatan dari sektor minyak dan gas sebesar Rp 101,93 Triliun (US $ 7,5 milyar) tahun depan.

    Jonan lebih lanjut menjelaskan bahwa sebagai net importir, itu tidak akan menguntungkan bagi Indonesia untuk mengurangi produksinya karena akan meningkatkan harga minyak mentah. Secara terpisah, Menteri Keuangan Sri Mulyani Indrawati mengatakan langkah OPEC untuk memangkas produksi positif akan mempengaruhi penerimaan negara, meskipun dia mengakui bahwa suspensi keanggotaan belum pernah dibahas antara kedua kementerian sejak. "OPEC menit terakhir, jadi ada unsur kejutan. Saya belum berbicara dengan Jonan, "katanya.

    Ini adalah kedua kalinya Indonesia telah menghentikan keanggotaan OPEC, yang memerlukan itu untuk membayar 1,2 juta per tahun. Awalnya membuat bergerak pada tahun 2008 dan hanya reactivat- ed afliliation nya awal tahun ini. Negara ini pertama kali terpaksa menunda keterlibatan aktif dalam kartel minyak hampir satu dekade lalu setelah bergeser statusnya dari eksportir bersih importir minyak mentah untuk memenuhi permintaan bahan bakar olahan nasional sekitar 1,6 juta bopd. Data terbaru dari Kegiatan Usaha Hulu Minyak dan Gas Regulatory Satuan Tugas Khusus (SKK Migas) menunjukkan bahwa produksi dalam negeri siap jual, yang dikenal sebagai angkat, mencapai sekitar 830.000 bopd, hanya sedikit lebih tinggi dari target tahun ini sebesar 820.000 bopd.

    Indonesia Kamar Dagang dan Industri (Kadin) 's wakil ketua untuk sektor minyak dan gas, Bobby Gafur Umar, mengatakan upaya OPEC untuk meningkatkan harga dengan memotong output positif akan mempengaruhi industri minyak dan gas sebagai nilai yang lebih tinggi akan mendorong kegiatan eksplorasi menjadi melimpah sekali lagi. "Tentu, industri yang membutuhkan minyak mungkin merasa panas. Namun, industri minyak dan gas telah setengah mati selama tiga tahun terakhir dan kami berharap bahwa akan ada lebih banyak eksplorasi sekali mentah menjadi lebih ekonomis lagi, "katanya.

Jakarta Post, Page-13, Friday, Dec,2,2016

Wika Garap Proyek Penyiapan Lahan dan Pembangunan Jetty Senilai Rp 552 M

    PT Pertamina menetapkan PT Wijaya Karya (Wika) sebagai kontraktor yang menggarap persiapan lokasi proyek dan pembangunan jetty senilai Rp 552 miliar untuk proyek refinery development master plan (RDMP) Kilang Balikpapan. Proyek ini merupakan langkah awal sebelum kilang dapat dibangun pada pertengahan 2017. Direktur Megaproyek Pengolahan dan Petrokimia Pertamina Rachmad Hardadi mengatakan, proyek persiapan lokasi ini merupakan langkah awal dimulainya megaproyek Kilang Balikpapan.

    Wika diberi waktu satu tahun untuk merampungkan persiapan sekaligus membangun jetty. Proyek yang harus dikerjakan Wika ini mencakup penyiapan lahan area pembangunan kilang seluas 75 hektar, pembangunan jetty dengan kapasitas 6.500 Dead Weight Tonnage (DWT) untuk keperluas bongkar muat, dan pembangunan prasarana jalan, gedung, serta peralatan kepelabuhan. Direktur Operasi II Wika Bambang Pramujo menuturkan, dari sisi nilai, proyek yang digarapnya memang hanya membutuhkan dana Rp 552 miliar.

    Namun, proyek ini disadarinya penti bagi kelanjutan Proyek RDMP Kilang Balikpapan. Karenanya, Wika berkomitmen akan menggarap proyek tepat waktu dan sesuai anggaran. Kalau kami gagal menyelesaikan tepat waktu, menyebabkan kesulitan bagi Pertamina. Kami berkomitmen menyelesaikannya tepat waktu," ujar dia. Hardadi mengatakan, RDMP Kilang Balikpapan ditargetkan selesai pengerjaannya pada akhir 2019 dan siap beroperasi pada September 2019.

    Pertamina kini tengah menggarap desain dasar (basic engineering design/BED) proyek kilang senilai US$ 5,3 miliar ini. Paralel dengan ini, perseroan juga mengerjakan desain rinci (front end engineering design/ FEED). Selanjutnya, EPC (engineering, procurement, and construction/rekayasa, pengadaan, dan konstruksi) kilang akan dimulai pada Juli 2019,” jelasnya. Pasca proyek rampung, kapasitas Kilang Balikpapan naik dari 260 ribu barel per hari (bph) menjadi 360 ribu bph. Senior Vice President Business Development Pertamina Iriawan Yulianto menambahkan, BED ditargetkan selesai pada akhir Desember atau awal januari ini.

    Selanjutnya, FEED diperkirakan bakal rampung pada Juni 2017. Setelah itu, Pertamina bakal mengumumkan pemenang EPC pada Juli 2017. Lelang EPC ini dimulai dengan prakualifikasi pada pekan depan. Jadi Setelah FEED selesai dan mendapat persetujuan FID (final investment decision/ FID), pemenang lelang bisa langsung di-award,” paparnya. Sementara itu untuk pendanaan proyek, tutur Hardadi, perseroan tengah mencari pinjaman (project financing). Saat ini, dipimpin oleh Direktur Keuangan Arif Budiman, perseroan sedang mengumumkan ke pasar untuk mencari mitra pendanaan ini.

    Sementara untuk proyek RDMP tiga kilang lainnya, yakni Kilang Cilacap, Balongan, dan Dumai, Pertamina masih menunggu jawaban Saudi Aramco selaku mitra. Menurut Hardadi, head of agreement (HOA) dengan Saudi Aramco seharusnya berakhir pada 26 November lalu dan Saudi Aramco harus sudah memberikan jawaban. Namun, lantaran belum juga ada kesepakatan untuk satu klausul, HoA tersebut diperpanjang sampai 31 Desember.

    Batas waktu sampai 31 Desember ini disebutnya hanya untuk kelanjutannya kerja sama RDMP Kilang Cilacap. Sementara terkait klausul RDMP Kilang Balongan dan Dumai dikeluarkan dari HoA lantaran pemerintah ingin ada percepatan pembangunan kilang. Sementara untuk RDMP Kilang Balongan dan Dumai akan dilihat. Proyek RDMP Kilang Cilacap ditargetkan selesai pada 2022. Sementara Kilang Balongan dan Dumai pada 2023. Untuk mengejar target penyelesaian Kilang Balongan dan Dumai, kata Hardadi, kedua proyek harus mulai bergulir pada 2017.

    Proyek yang paling membutuhkan percepatan yakni Kilang Balongan. “Kilang Dumai sudah ada tangki open access 600 ribu barel, feed kilang kan lewat tanker. Melihat itu, Dumai sudah cukup bagus track nya, yang perlu di speed up adalah Balongan. Nilai investasi ketiga proyek ini masing-masing US$ 4,5 miliar untuk Kilang Cilacap, US$ 4,2-4,3 miliar untuk Kilang Dumai, dan US$ 2,7 miliar untuk Kilang Balongan. Setelah RDMP selesai, kapasitas ketiga kilang akan naik masing-masing menjadi 370 ribu bph dari 340 ribu bph untuk Kilang Cilacap, 300 ribu bph dari 175 ribu bph untuk Kilang Dumai, serta 280 ribu bph dari 125 ribu bph untuk Kilang Balongan.

IN ENGLISH

Wika Working on Project Preparation and Development of Land Jetty Worth USD 552 M
    PT Pertamina sets PT Wijaya Karya (Wika) as contractors working on site preparation and construction of jetty project worth Rp 552 billion for the refinery project development master plan (RDMP) Balikpapan refinery. This project is the first step before the refinery can be built by mid 2017. Director of Processing and Petrochemical Pertamina megaproject Hardadi Rachmat said, the project site preparation is the first step commencement Balikpapan refinery megaproject.

    Wika given one year to complete the preparation as well as build the jetty. The project should be done Wika include land preparation plant construction area covering 75 hectares, the construction of the jetty with a capacity of 6,500 Dead Weight Tonnage (DWT) for keperluas unloading, and the construction of roads, buildings, and equipment harbor. Director of Operations II Wika Pramujo Bambang said that, in terms of value, projects she's working really only needs Rp 552 billion.

    However, the project was realized penti for the continuation of the Project RDMP Balikpapan refinery. Therefore, Wika committed to work on the project on time and within budget. If we fail to finish on time, causing difficulties for Pertamina. We are committed to complete it on time, "he said. Hardadi said RDMP Balikpapan refinery process is targeted to be completed by the end of 2019 and ready for operation in September 2019.

    Pertamina is currently working on the basic design (basic engineering design / BED) refinery project worth US $ 5.3 billion of this. Parallel to this, the company is also working on the detailed design (front end engineering design / FEED). Furthermore, the EPC (engineering, procurement, and construction / engineering, procurement, and construction) refinery will begin in July 2019, "he explained. Post-project completion, Balikpapan refinery capacity increased from 260 thousand barrels per day (bpd) to 360 thousand bpd. Senior Vice President of Business Development Pertamina Iriawan Yulianto added, BED is targeted for completion in late December or early January of this.

    Furthermore, FEED is expected to be completed in June 2017. After that, Pertamina will announce the winners in July 2017. EPC EPC Auction begins with the pre-qualification in the next week. So Once FEED is completed and approved by the FID (final investment decision / FID), winner of the auction can be directly in-award, "he said. Meanwhile for project finance, said Hardadi, the company is looking for a loan (project financing). At present, led by Finance Director Arif Budiman, the company is announcing to the market to seek this funding partners.

    Meanwhile, projects RDMP three other refineries, namely Cilacap, Balongan, and Dumai, Pertamina is still waiting for answers to Saudi Aramco as a partner. According Hardadi, head of agreement (HOA) with Saudi Aramco is supposed to end on 26 November and Saudi Aramco should have provided an answer. However, because there has not been agreement on the clauses, the HoA extended until 31 December.

    The deadline until December 31 is called only for the continuation of cooperation RDMP Cilacap. While the clause related RDMP Balongan and Dumai Refinery removed from HoA because the government wants to accelerating the construction of the refinery. As for RDMP Balongan and Dumai refinery will be seen. RDMP Cilacap refinery project is targeted for completion in 2022. While Balongan refinery and Dumai in 2023. To achieve the target completion Balongan refinery and Dumai, said Hardadi, both projects should start rolling in 2017.

    Most projects require accelerated the Balongan refinery. "Dumai refinery was already a tank open access to 600 thousand barrels, the refinery feed via tanker. Seeing that, Dumai is pretty good track of his, who needs to speed up is Balongan. The investment value of these three projects each with US $ 4.5 billion for the Cilacap refinery, US $ 4.2-4.3 billion for Dumai Refinery and US $ 2.7 billion for Balongan refinery. After RDMP finished, a third refinery capacity will rise respectively to 370 thousand barrels per day from 340 thousand bpd to Cilacap, 300 thousand barrels per day from 175 thousand bpd to Dumai refinery, as well as 280 thousand barrels per day from 125 thousand bpd for Balongan refinery.

Investor Daily, Page-9, Friday, Dec,2,2016

Indonesia Temporarily Freezes OPEC Membership

    Indonesia decided to temporarily suspend membership in the Organization of the Petroleum Exporting Countries (OPEC). The decision was taken at OPEC's 171st Session in Vienna, Austria, Wednesday (30/11). 

    Energy and Mineral Resources (ESDM) Minister Ignasius Jonan said the freezing step was taken after the court's decision to cut crude oil production by 1.2 million barrels per day, excluding condensate. The session also asked Indonesia to cut about 5 percent of its production or around 37 thousand barrels per day.

    Even though the need for state revenue is still large and in the 2017 Draft State Budget it is agreed that oil production in 2017 will decrease by 5 thousand barrels compared to 2016, "said Jonan.

    Thus, the cut that Indonesia can accept is 5 thousand barrels per day. Jonan added that as a net oil importer country, this production capacity cut is not profitable for Indonesia, because the oil price will theoretically rise. With this membership suspension, Indonesia has twice frozen its membership in OPEC. The first freeze was in 2008, effective 2009.

    Indonesia decided to return to being active as a member of OPEC in early 2016. This temporary suspension is the best decision for all OPEC members. Because thus the decision to cut 1.2 million barrels per day can be carried out, and on the other hand Indonesia is not bound by the decisions taken, in line with Indonesia's national interests. Member of Commission VII of the House of Representatives (DPR) Kurtubi, supports the government's move to temporarily suspend membership in OPEC.

    This policy reflects the current condition of Indonesia. The government does not want to reduce lifting. Kurtubi said that Indonesia's crude oil production trend has never been achieved. This is due to the lack of exploration activities as well as mature domestic oil wells. 

    He said that without a decision to cut production at the OPEC session, Indonesia's oil production actually decreased from year to year. Without being told to reduce the production target, it is difficult to achieve because our production trend is down.

    He said that the temporary suspension of status did not mean that Indonesia would leave OPEC's membership. That way Indonesia can still cooperate with OPEC member countries.

    The Executive Director of the ReforMiner Institute, Komaidi Notonegoro, added that cutting or increasing oil production is one of the policies commonly carried out by OPEC. Indonesia must be careful in responding to this policy. He said the decision to freeze membership was a natural gesture.

    Komaidi said that his party has not seen the benefits of Indonesia's membership in OPEC. He said the benefits of being a member were limited to price information. According to him, the temporary suspension of status is not detrimental to Indonesia. This is because Indonesia can still cooperate with oil-producing countries outside of OPEC's membership, such as Russia and the United States. A country like this must be the concern of Indonesia to obtain oil and gas.

    Energy observer from Trisakti University Pri Agung Rakhmanto said the suspension of membership status allowed Indonesia to concentrate more on fixing oil and gas management in Indonesia. The government will often face OPEC decisions that differ from Indonesia's interests. He explained that OPEC's decision to cut oil production currently differs from Indonesia's interests, which in fact have to increase production to sustain state revenues.

    Pri Agung said that the membership suspension will have little effect on the downstream oil sector. This means that it can reduce direct access and cooperation with OPEC members in the procurement or import of crude oil and fuel oil (BBM) and the construction of refineries. 

    The domestic oil and gas industry, especially the upstream sector, will have no effect. Meanwhile, world crude oil prices rose about 8 percent in trading Wednesday US time after the major world oil producers who are members of OPEC for the first time since 2008 agreed to cut their crude production in order to raise oil prices which have continued to fall recently.

    This production cut, as quoted by Antara, would put OPEC's oil production below the current level of 33.64 million barrels per day. Non-OPEC country, Russia also agreed to cut oil production to 300,000 barrels per day. OPEC will meet with non-OPEC oil producers on December 9. 

    The West Texas Intermediate benchmark oil price for January delivery rose the US $ 3.93 to the US $ 49.16 per barrel. Meanwhile, the price of Brent oil for shipment in January rose the US $ 3.73 to the US $ 50.11 per barrel, or an increase of 8 percent. February shipments rose 8.8 percent to the US $ 51.48 per barrel. Kuwait, Venezuela, and Algeria agreed to monitor compliance with the OPEC agreement.

Investor Daily, Page-9, Friday, Dec 2, 2016

BPH Migas Performance is Not Optimal yet

    Energy observer from Gajah Mada University (UGM) Fahmy Radhi assessed that the performance of the Upstream Oil and Gas Regulatory Agency (BPH Migas) was still not optimal. The performance of BPH Migas has not been maximized, both in terms of developing natural gas pipelines and other fields.

    According to him, the lack of availability of gas pipes for both industry and urban communities is an indicator that BPH Migas' performance is indeed declining. The former member of the Oil and Gas Governance Reform Team also noted that in the implementation of the gas pipeline auction, BPH Migas was unable to encourage the participation of gas traders. In fact, BPH Migas cannot do anything when a company wins the auction but has not built the pipeline for years," he said.

    Therefore, he suggested, the authority of BPH Migas should be returned to the Directorate General of Oil and Gas, Ministry of Energy and Mineral Resources. Fahmy also argues, given the importance of procuring gas pipelines as well as accelerating their development, the government can directly appoint a State-Owned Enterprise (BUMN), PT. The State Gas Company (PGN) builds gas pipelines for both industrial and urban areas with their own investment costs.

    In return, PGN as a state-owned company is given a natural monopoly right to distribute industrial gas at a price set by the government," he said.

    Furthermore, if the gas pipeline is "mature" and reaches all industrial consumers, then gas distribution can be opened. Previously, businessmen in Central Java province complained about the lack of gas pipeline infrastructure in their area. The chairman of the Indonesian Employers' Association (Apindo) of Central Java, Frans Kongi, said that his party had been waiting for natural gas supply through pipelines like other regions for decades.

    According to him, if East Java, West Java, and DKI Jakarta have long enjoyed gas fuel through cheap and clean pipelines, Central Java has not.

"About 15-20 years ago, the Ministry of Energy and Mineral Resources once surveyed the industry to supply gas via pipelines, but until now this has not been realized," he said.

    Of the approximately 1,300 members of Apindo Central Java, hundreds of entrepreneurs are already waiting and ready to receive supplies of natural gas fuel. He gave an example, in Semarang and its surroundings alone, there are 100-200 entrepreneurs who are ready to receive gas supplies through pipes. Not to mention the addition of entrepreneurs in Solo, Kudus, and the Kendal Industrial Estate (KIK) which was just inaugurated by President Joko Widodo," he said.

    If the pipe has passed through the factory, it is certain that the entrepreneur will want to use natural gas. Frans also said that piped gas fuel is much cheaper than oil, so industrial products produced can be cheaper and will certainly increase competitiveness with other regions.

    Plus, natural gas is cleaner than oil, so it's environmentally friendly," he said.

In terms of expenditure costs, according to him, the fuel component ranks second after raw materials. Thus, if the industry gets cheap fuel such as gas, the resulting product will be more competitive in the face of market competition.

Investor Daily, Page-9, Friday, Dec 2, 2016

Pasar Finansial akan Pantau Kesepakatan OPEC

    Harga minyak mentah global naik Iagi pada perdagangan Kamis (1/12), setelah melonjak hampir 10% usai kesepakatan pertama dalam delapan tahun oleh Organisasi Negara-Negara Pengekspor Minyak atau OPEC untuk memangkas produksi 1,2 juta bph. Pasar finansial menyatakan akan memantau implementasi, karena masih banyak hambatan untuk mengatasi kelebihan pasokan di pasar. Kebanyakan analis sebelumnya memperkirakan kartel minyak 14 negara tersebut gagal mencapai kesepakatan, karena para produsen besar seperti Iran, Irak, dan Arab Saudi tetap berseberangan.

    Namun OPEC di luar dugaan berhasil menyetujui kesepakatan awal yang tercapai pada September 2016, yang bertujuan mengurangi kelebihan pasokan global dan mengangkat harga. Setelah keputusan OPEC keluar, harga minyak mentah dunia melonjak hampir 10%, namun hanya naik 1% pada perdagangan Kamis. Sekitar pukul 10:30 GMT, harga minyak mentah Brent Laut Utara naik 51 sen menjadi US$ 52,35 per barel dan harga minyak mentah West Texas Intermediate (WTI) naik 47 sen menjadi US$ 49,91 per barel.

    Meskipun pengumuman kemarin jauh melebihi ekspektasi, masih ada sejumlah hambatan untuk menyembuhkan kelebihan pasokan di pasar minyak. Pasar Eropa juga di bayangi situasi jelang referendum di Italia, meski nanti juga akan keluar data baru ketenagakerjaan AS,” ujar Joshua Mahony, analis dari IG. Dalam pertemuan formal di markasnya di Wina, Austria, OPEC sepakat mengurangi produksi 1,2 juta barel per hari mulai bulan depan. Produsen besar non-OPEC, Rusia, juga berkomitmen mengurangi produksi.

    Perjanjian ini mengakhiri ketidakpastian dan volatilitas di pasar minyak mentah selama beberapa pekan terakhir. Para produsen utama terbelah mengenai siapa yang harus menanggung beban terbesar pemangkasan. Kata OPEC dan melebihi ekspektasi sangat jarang, atau malah tidak pernah bersamaan. Pemangkasan dibagi rata ke seluruh anggota, termasuk Iran dan Irak,” ujar analis senior Oanda Jeffrey Halley. Naeem Aslam, analis dari Think Markets mengatakan, apa yang akan dilihat para investor sekarang adalah berapa lama kesepakatan ini akan berjalan dan apakah ada partisipan yang akan mencurangi kuota pemangkasan yang sudah disepakati.

    Negara-negara OPEC di masa lalu tidak dapat mematuhi kuota yang sudah disepakati demi menjaga pangsa pasar dan mengamankan pendapatan dari minyak. Akan ada mekanisme untuk memantau dan menjamin kepatuhan penuh dari para partisipan,” ujar Menteri Energi Arab Saudi Khaled Al Falih. Menteri Energi Qatar sekaligus Presiden Konferensi OPEC Mohammed Bin Saleh Al Sada mengatakan, OPEC sepakat memangkas produksi bulanan 1,2 juta bph menjadi 32,5 juta bph mulai 1 januari 2017.

    Saudi akan memangkas produksi 486.000 bph dari level Oktober 2016 menjadi 10,1 juta bph. lrak akan memangkas 210.000 menjadi 4,4 juta bph dan Uni Emirat Arab (UEA) 139.000 menjadi 2,9 juta bph. Namun Iran justru akan meningkatkan produksi 90.000 bph menjadi 3,8 juta bph. Libya dan Nigeria dikecualikan dari kesepakatan, sedangkan Indonesia memilih untuk membekukan keanggotaannya dari OPEC. Fokus sekarang akan tertuju kepada para produsen non-OPEC, terutama Rusia, untuk memangkas produksi dengan harapan sebanyak 600.000 bph.

IN ENGLISH

Financial markets would Monitor OPEC agreement

    Global crude oil prices rose involvement on Thursday (1/12), after surging nearly 10% after the first deal in eight years by the Organization of Petroleum Exporting Countries, or OPEC to cut production by 1.2 million bpd. Financial markets said it would monitor the implementation, because there are still many obstacles to overcome oversupply in the market. Most analysts had forecast the country's 14 oil cartel failed to reach an agreement, because the major producers such as Iran, Iraq, and Saudi Arabia remain opposed.

    But OPEC unexpectedly failed to agree on the initial agreement reached in September 2016, aimed at reducing excess global supply and lift prices. After the decision of OPEC exit, crude oil prices jumped almost 10%, but only up 1% on Thursday. Around 10:30 GMT, the price of Brent North Sea crude rose 51 cents to US $ 52.35 per barrel and the price of West Texas Intermediate crude oil (WTI) rose 47 cents to US $ 49.91 per barrel.

    Despite yesterday's announcement far exceeded expectations, there are still a number of obstacles to cure the oversupply in the oil market. European markets also in the shadow of the situation ahead of the referendum in Italy, although the data will also be out of new US jobs, "said Joshua Mahony, an analyst at IG. In a formal meeting at its headquarters in Vienna, Austria, OPEC agreed to reduce production of 1.2 million barrels per day starting next month. Manufacturers of large non-OPEC, Russia, is also committed to reduce production.

    This agreement put an end to the uncertainty and volatility in the crude oil market over the last few weeks. The main producers split over who should bear the greatest burden trimming. OPEC said and exceed expectations very rarely, or even never simultaneously. Pruning is distributed equally to all members, including Iran and Iraq, "said a senior analyst at Oanda Jeffrey Halley. Naeem Aslam, an analyst from Think Markets said, what will be the investors now is how long this deal will go and whether there are participants who will cheat quota cuts agreed.

    OPEC countries in the past can not comply with the quotas agreed upon in order to maintain market share and securing of oil revenues. There will be a mechanism to monitor and ensure full compliance of the participants, "said Energy Minister Khaled Al Falih of Saudi Arabia. Qatar Energy Minister and President of the OPEC Conference Mohammed Bin Saleh Al Sada said OPEC agreed to cut monthly production of 1.2 million bpd to 32.5 million bpd from 1 January 2017.

    Saudi will cut production by 486,000 bpd from the level in October 2016 to 10.1 million bpd. Iraqis will cut 210,000 to 4.4 million bpd and the United Arab Emirates (UAE) of 139,000 to 2.9 million bpd. But Iran will actually increase the production of 90,000 bpd to 3.8 million bpd. Libya and Nigeria is excluded from the deal, while Indonesia chose to freeze its membership of OPEC. The focus now will be drawn to the non-OPEC producers, particularly Russia, to cut production by 600,000 bpd expectations.

    Russian Energy Minister Alexander Novak confirmed his country will cut production by 300,000 bpd starting from next year, if the decision of OPEC remains adhered to. Russian daily production reached 11 million bpd now. Assuming the non-OPEC reached 600,000 bpd, total crude oil production cut in the market reached 1.8 million bpd.

Investor Daily, Page-3, Friday, Dec,2,2016