Oil, gas draft law completed<\/p>\n
JAKARTA (JP): The Ministry of Mines and Energy has finished
\ndrafting the new oil and gas law, which is to be handed over to
\nthe House of Representatives for deliberation.<\/p>\n
Spokesman for the Ministry of Mines and Energy Budhi Sulistyo
\nsaid on Tuesday the ministry expects the House to pass the bill
\ninto law by March.<\/p>\n
Budhi said in a statement the law had been drafted by a cross-
\nministerial team for months on input provided by various parties,
\nincluding oil and gas industry experts, the Indonesian Petroleum
\nAssociation (IPA), the Indonesia Chamber of Commerce and
\nIndustry, World Bank, oil and gas companies operating in the
\ncountry and non-government organizations.<\/p>\n
The new law will, among other things, lift the monopoly held
\nby state company Pertamina on the downstream sector of the oil
\nand gas industry.<\/p>\n
Budhi said the ministry is currently composing a draft
\ngovernmental regulation for the implementation of the new law so
\nthe law could be brought into effect as soon as the it gets
\nthrough the House. (jsk)<\/p>",
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"sponsor": "Okusi Associates",
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