Pertamina To End Loss-Making LPG Sales By 2016

Posted by Joseph R. Fonseca
Tuesday, April 22, 2014

 

State-owned energy firm Pertamina plans to raise the non-subsidized liquefied petroleum gas (LPG) price gradually by 2016, ending years of loss-making business due to political interference in pricing, a company official said.

Gigih Wahyu Hari Irianto, Pertamina's vice president for domestic gas, said the company expects the government to address the LPG price issue by the end of this year.

Early this year, Pertamina backed down from its plan to stop the losses by raising the price of non-subsidized LPG by 68 percent, after intervention by the government.Pertamina instead reduced the price hike to just 17 percent.

Note: Reuters has not verified this story and does not vouch for its accuracy.

(Compiled by Jakarta Newsroom)

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Suez Canal 5-Year Investment Promises 12%

Banque du Caire received Suez Canal investment certificates on Tuesday, according to an official source at the bank, and the certificates will probably be available

Panama Canal Infrastructure to be Valued by VRC

Leading provider of independent valuations, Valuation Research Corporation (VRC) says it has been engaged by the Panama Canal Authority to value the locks, dams,

Box Ships on Q2 Slippery Containership Slope

"The reduced charters on the 'Box Queen', 'CMA CGM Marlin' and 'CMA CGM Kingfish' were the contributing factors to the 24% decline in our adjusted time charter revenues year over year,

Energy

Power of Siberia construction launched

Yakutsk hosted today celebrations dedicated to welding the first joint of the Power of Siberia gas transmission system (GTS) meant to be a crucial element of

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry.

News

Power of Siberia construction launched

Yakutsk hosted today celebrations dedicated to welding the first joint of the Power of Siberia gas transmission system (GTS) meant to be a crucial element of

USCG Cutter Eagle to Open for Tours in Yorktown

Coast Guard Cutter Eagle, America's tall ship and seagoing classroom for future officers in training, is scheduled to be open for tours Saturday at Coast Guard Training Center Yorktown.

30 Rosneft Subsidiaries in All-Russian Environmental Cleanup Day

Thirty Rosneft subsidiaries in most of the regions of the Company presence, from Sakhalin in the east to the Arkhangelsk Region in the west, took part in the

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1112 sec (9 req/sec)