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Medco-Energi-Internasional

Business 5 years ago

PREMIUM
Medco expects oil prices to bounce back in 2021 following vaccination

Publicly listed oil and gas producer PT Medco Energi Internasional expects global oil prices to bounce back next year, ignited by hopes pinned on COVID-19 vaccines.

Business 5 years ago

Energy heavyweight Medco books $95m loss in first half

Medco’s revenue fell by 7.6 percent year-on-year (yoy) to $551.76 million in the first quarter, driven by lower oil and gas revenue, which is Medco’s biggest income contributor.

Business 5 years ago

Natural resource exporters in dark over BI forex plan

“Frankly speaking, we haven't been asked about our opinion of the plan,” said Indonesian Coal Mining Association (APBI) executive director Hendra Sinadia.

Business 5 years ago

Medco gets green light for $80m Paus Biru gas project, reports Q1 loss

Oil and gas producer PT Medco Energi Internasional has secured government approval for the development of the gassy Paus Biru Field in the Madura Strait off the coast of East Java as it reports a loss in the first quarter.

Business 5 years ago

Medco drills new gas well offshore in South Natuna Sea

The Kaci-2 gas well will produce an estimated 13 mmscfd of gas once full production begins, the company said.

Business 5 years ago

Medco begins piping gas from offshore Meliwis field in East Java

The company piped 20 mmscfd of gas on July 13. The gas will be used by industries in East Java.

Business 5 years ago

SKK Migas lowers oil and gas targets, seeks fiscal stimulus

Oil and gas companies face lower productivity, delivery delays and slower mobilization times due to coronavirus emergency measures.

Business 5 years ago

PREMIUM
Four upstream oil and gas projects worth $45m set to kick off in first quarter

The four oil and gas projects which are scheduled to begin operation in the first quarter this year include three gas projects that have a collective output of 80 million cubic feet per day (mmscfd).

Business 5 years ago

Rating agencies downgrade Indonesian companies on debt repayment concerns amid COVID-19

The rationale behind the ratings decisions varies for each company but revolves around liquidity risks, concerns over debt repayment ability, a sharp rupiah depreciation, low commodity prices and overall weak demand.