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crude-oil

Seven victims of oil tanker fire in North Sumatra identified
National 6 years ago

Seven victims of oil tanker fire in North Sumatra identified

The fire was finally extinguished at 3 p.m. or around seven hours after the first explosion. 
A hunt for any storage space turns urgent as oil glut grows
Business 6 years ago

A hunt for any storage space turns urgent as oil glut grows

Hundreds of millions of barrels of crude have gushed into storage worldwide in the past two months as the coronavirus-related lockdowns wiped out around a third of global oil demand.
US crude dips below $20, lowest since 2002, as lockdowns hit demand
Business 6 years ago

US crude dips below $20, lowest since 2002, as lockdowns hit demand

Asian shares also slipped on Monday despite the all-out efforts of central banks to bolster markets with rate cuts and asset-buying campaigns.
Medco cuts capex and production over oil price crash
Business 6 years ago

Medco cuts capex and production over oil price crash

Publicly listed oil and gas company PT Medco Energi Internasional has slashed its capital expenditure and production targets this year because of weakened global investment and demand caused by the recent oil price crash.
Jokowi orders ministries to crunch numbers on plunging oil prices
Business 6 years ago

Jokowi orders ministries to crunch numbers on plunging oil prices

The Energy and Mineral Resources Ministry announced plans to increase oil imports while the country’s Finance Ministry announced it would monitor the potential impact of the price plunge on the state budget.
Oil plunges about 30% after Saudi Arabia slashes prices, opens taps
Business 6 years ago

Oil plunges about 30% after Saudi Arabia slashes prices, opens taps

Oil fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak.
US-Iran row exposes another threat to the Indonesian economy
Business 6 years ago

PREMIUM
US-Iran row exposes another threat to the Indonesian economy

The heightened tension between the United States and Iran after a US air strike killed influential Iranian general Qasem Soleimani last week will add to the global economic uncertainties, which could further affect Indonesia’s exports, analysts have said.
Five arrested in Riau on suspicion of tapping into Chevron pipeline
National 6 years ago

Five arrested in Riau on suspicion of tapping into Chevron pipeline

The suspects are accused of stealing up to 349,000 liters of crude oil, causing more than Rp 1.9 billion (US$135,172) in losses.
Pertamina claims 20% net profit growth in first half
Business 6 years ago

Pertamina claims 20% net profit growth in first half

State energy giant Pertamina claimed on Wednesday that it booked 20 percent growth in net profit in the first half year-on-year, without disclosing the exact figure.
Pertamina domestic crude intake jumps 800 percent
Business 6 years ago

Pertamina domestic crude intake jumps 800 percent

The supply up to June had come from 37 different private oil and gas contractors.
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