{
    "success": true,
    "data": {
        "id": 1193704,
        "msgid": "pertamina-plans-more-deregulation-in-oil-mart-1447893297",
        "date": "1995-12-05 00:00:00",
        "title": "Pertamina plans more deregulation in oil mart",
        "author": null,
        "source": "",
        "tags": null,
        "topic": null,
        "summary": "Pertamina plans more deregulation in oil mart JAKARTA (JP): The president of state-owned oil company Pertamina, Faisal Abda'oe, proposed yesterday that the government issue a new deregulatory measure in the oil and gas sector. \"The planned deregulation would include a revision of Law No. 8\/1971 about Pertamina and new incentives for oil and gas investors,\" Abda'oe said after speaking at a seminar on oil and gas.",
        "content": "<p>Pertamina plans more deregulation in oil mart<\/p>\n<p>JAKARTA (JP): The president of state-owned oil company<br>\nPertamina, Faisal Abda&apos;oe, proposed yesterday that the government<br>\nissue a new deregulatory measure in the oil and gas sector.<\/p>\n<p>&quot;The planned deregulation would include a revision of Law No.<br>\n8\/1971 about Pertamina and new incentives for oil and gas<br>\ninvestors,&quot; Abda&apos;oe said after speaking at a seminar on oil and<br>\ngas.<\/p>\n<p>The  current law gives Pertamina a monopoly on the processing,<br>\ndistribution and marketing of oil and gas in the country.<\/p>\n<p>He said the deregulation would allow private investors, both<br>\nforeign and domestic, to conduct certain businesses in the oil<br>\nand gas sector, which are currently handled only by Pertamina.<\/p>\n<p>Abda&apos;oe said any measure would likely include tax guidelines<br>\non the consolidation of exploration and production activities<br>\nundertaken by oil companies.<\/p>\n<p>&quot;The government is now discussing such tax consolidation,&quot; he<br>\nsaid.<\/p>\n<p>Meanwhile, Pertamina&apos;s director of processing, G.J. Atihuta,<br>\nproposed that the government establish a new legal and regulatory<br>\nframework to allow private sector companies to invest in the<br>\nrefining industry and marketing of oil products.<\/p>\n<p>Abda&apos;oe said that such deregulation is a must for Indonesia in<br>\nview of increasing competition, especially in the Asia-Pacific<br>\nregion, to attract foreign investments.<\/p>\n<p>However, Director General of Oil and Gas Suyitno Patmosukismo<br>\nsaid recently that the government was against the tax<br>\nconsolidation idea, which, it believes, would reduce the<br>\ngovernment&apos;s earnings from the oil and gas sector.<\/p>\n<p>Suyitno added that he was not sure if tax consolidation would<br>\nhelp promote investment in oil exploration. &quot;I&apos;m not sure if even<br>\nthe biggest oil producer in the country would boost its<br>\ninvestment in oil exploration,&quot; he said in reference to Caltex.<\/p>\n<p>Minister of Mines and Energy I.B. Sudjana also said recently<br>\nthat the government would not give more incentives to invest in<br>\nthe oil and gas sector.(04)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/pertamina-plans-more-deregulation-in-oil-mart-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}