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vrijdag 6 januari 2017

Indonesië: New 14 Oil-and-Gas Blocks Devoid of Interest

New 14 Oil-and-Gas Blocks Devoid of Interest

Ministry of Energy and Mineral Resources stated that 14 new oil and gas fields offered this year are devoid of interest. The ministry is planning to auction the blocks next year. "We hope it will be more attractive next year," said the Director General of Oil and Gas of the Energy and Mineral Resources Ministry, I Gusti Nyoman Wiratmaja, at his office on Friday (23/12). Wiratmaja said that actually there was an investor who applied several working areas. However, the offer from the investor was not encouraging. Wiratmaja suspected that the devoid of interest happened because of the upstream oil and gas business is down due to lower crude oil prices.

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Control food prices to manage inflation in 2017: Minister

The government should control domestic food prices to keep inflation in 2017 below the projected four percent, Coordinating Minister for Economic Affairs Darmin Nasution has said. "As long as we can address the issue of food prices, we can control the inflation rate in 2017," Darmin said during a dialogue here on Monday (19/12) on Indonesia's economic prospects in 2017. The government should have started efforts to control inflation in 2017 because it would face another challenge regarding administered prices of electricity and fuel oil, he said. The price of fuel oil is expected to increase as a result of the decision by the Organization of the Petroleum Exporting Countries (OPEC) to cut crude oil production.

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Indonesian retailers eye 10 percent growth in sales this year

The Association of Indonesian Retailers (Aprindo) has said retail sales potentially have grown 10 percent this year as a result of better macroeconomic and banking conditions. Aprindo chairman Roy N. Mandey forecasts that the sales turnover of the country's retailers has reached Rp 200 trillion (US$14.9 billion) for the year, higher than last year's figure of Rp 181 trillion. "Last year, with around 4.7 percent economic growth, we had posted growth of 8 percent. We hope this year we can book 10 percent growth," Roy told reporters on Wednesday (28/12).

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