“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Thursday, March 19, 2009

Pertamina asks for zero tax policy on new refinery projects

The Jakarta Post, JAKARTA | Thu, 03/19/2009 12:42 PM

The government is considering a proposal from the state oil and gas company PT Pertamina for a zero-tax policy to help speed up the development of its planned refinery projects.

“We have already given fiscal incentives and there is a new proposal for zero tax policy implementation,” Energy and Mineral Resources Minister Purnomo Yusgiantoro said in Jakarta on Wednesday.

“The zero tax policy however will be decided by the Finance Minister. We have also talked with the Investment Coordinating Board (BKPM), which will form a working group with Pertamina to see whether any other incentive is needed,” he added.

Oil and gas industry analyst Kurtubi recently said that the setting up of new refineries was vital to ensure domestic fuel sustainability.

“It is very important for Pertamina to begin developing new refineries because the nation is currently importing around 35 percent of fuel, which shows a vulnerability in terms of our energy sustainability” he said.

This equals to around 350,000 barrels per day of domestic fuel consumption, which calls for the establishment of two new oil refineries with a capacity of producing 200,000 barrels of oil per day each.

Pertamina has said it would build two new refineries in Bojonegara (Banten) and Tuban (East Java) as well as expand its biggest existing one in Balongan of West Java to meet demand and cut imports.

The refinery in Bojonegara is planned to produce around 300,000 barrels per day while the one in Tuban around 200,000 barrels per day. The Balongan refinery, which is one of seven oil refineries owned by Pertamina, now has a production capacity of 125,000 bpd.

“There are also small refineries such as the one in Muba, which produces around 500 barrels per day. The refinery in Cepu is capable of producing around 20,000 barrels per day and others. We will have around 100,000 kilo liters of new reserves.”

However, the addition to reserves was still not sufficient to supply the domestic demand. “Domestic fuel demand is around 1.1 million barrels per day and it grows annually at up to 5 percent,” Purnomo said.

“That means we need to supply around 200,000 barrels per day within the next four years to cope with the demand.”

To facilitate private investors to invest in developing new refineries, the government issued last year a regulation incorporating income tax incentives for private investors interested in investing in the construction and development of new oil refineries in the country. (hdt)

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