• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 9 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 1 day "False Flag Planted In Nord Stream Pipeline, GFANZ, Gore, Carney, Net Zero, U.S. Banks, Fake Meat, and more" - NEWS in 28 minutes
  • 3 days ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 1 day Wind droughts
  • 8 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 1 hour "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 15 hours Australian power prices go insane
  • 4 days Xi Is Set To Be Re-Elected As China’s Leader
  • 1 day Europeans and Americans are beginning to see the results of depending on renewables.
  • 3 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 12 days Oil Prices Fall After Fed Raises Rates
  • 2 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Nigeria Has Failed To Capitalize On High Oil Prices

Nigeria Has Failed To Capitalize On High Oil Prices

Despite oil prices sitting well…

Indonesia Set To Win Big As European Smelters Shut Down

Indonesia Set To Win Big As European Smelters Shut Down

Smelter shutdowns in Europe and…

Indonesian Company to Begin Exporting Coal to China

Indonesia’s Medco Energi Internasional is shortly to start high-caloric thermal coal exports to China later this year.

Medco Energi Mining Internasional chief executive Arie Prabowo Ariotedjo said of the exports, "They are in line with our portfolio plan, which is to develop our non-oil and gas energy business. This will be our first coal production project. We are selling (coal) to China through a European trader," The Jakarta Post reported.

According to Arie, Medco Energi Mining Internasional intends initially to produce 500,000 tons of coal at the outset, with production escalating to one million tons by 2014, virtually all of which will be exported to China.

Indonesia is the world's top exporter of thermal coal, and the government estimate that the country’s mines can increase output by at least 10 percent annually up to 2016, with coal-mining industry group advocates stating that by the end of the year production could reach 340 million tons. Most of Indonesia's high-calorie coal, used to generate electricity, is exported to China, Japan and Europe and will play an increasingly important role in bilateral trade, as in 2010 China’s investments in Indonesia were a paltry $173.6 million, according to Indonesia’s Investment Coordinating Board (BKPM).

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News