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vrijdag 31 maart 2017

Indonesië: Pertamina Rehabilitates 104 Illegal Oil Wells

Pertamina Rehabilitates 104 Illegal Oil Wells

Pertamina EP acting executive director Nanang Abdul Manaf said that his company has set a target to address illegal oil wells in April. "We have set a target in April to address illegal oil wells. We have made an agreement with local oil miners to shift jobs," Nanang said at Pertamina's head office in Jakarta on Tuesday, March 21, 2017. As many as 104 illegal oil wells were found in South Sumatera. Pertamina revealed that illegal oil mining has occurred since 2011. As a result of the illegal activities, Pertamina lost 1,500 barrels of oil per day, which was higher than Pertamina EP's production in Mangunjaya at 400 barrels per day.

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Indonesia C. Bank Issues New Rules on Negotiable Deposit Certificates

Indonesia's central bank on Thursday (23/03) issued new regulations for the trading of negotiable deposit certificates (NCDs) in a bid to get more financial institutions to tap into the market. Policymakers want to boost the trading of NCDs to reduce the tendency of Indonesian banks to park excess funds at the central bank. Only 5 billion of the Rp 20.25 trillion ($1.52 billion) worth of outstanding NCDs were traded, according to the central bank, as legal uncertainties and a lack of clear regulations kept financial institutions on the sidelines. The rules, which will come into effect on July 1, will regulate the approval process for certificate issuers, product criteria, transaction and supervision.

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Indonesia to Reach 5.2 Percent Economic Growth: World Bank

The World Bank has corrected its view of Indonesia's economic growth from 5.3 percent to 5.2 percent at the end of the year. The forecast exceeds the target set by the government at 5.1 percent. World Bank Country Director for Indonesia Rodrigo Chaves views that low unemployment rate and current account deficit, as well as the lowest inflation rate, reflect Indonesia's economic resilience amid global economic crisis. Indonesia's economy has been strengthened by accommodative monetary policies, commodity prices and an increased in export volumes, as well as an increase in income and household consumption.

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