Oil Price Declines

(Singapore, 14/3) – Oil price declined in Asian Market on Friday, after 111 US $ per barrel increasing last night in New York. However, the expert said the price was still boiling, due to sharp lowering of US $ value and stock anxiety.

New York’s primary period contract, “light sweet” raw oil type for April delivery has reached 109,87 US $ per barrel in Asia morning trade, 46 cents descending for highest closing 110,33 US $ per barrel in New York.

At early market in US, oil contract phase has reached 111,00 US $ for the first time. Raw oil type “Brent North Sea” for April delivery has attained 107,54 US $ last night, after touched highest point in daily market for 107,88 US $.

“We viewed it only as marginal movement,” said David Moore, a commodity analyst of Commonwealth Bank of Australia in Sydney, without mentioning the constant high price, as told AFP. (Ant/Nurseffi/Trans.Lala)

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Government Honours the House Decision of BI’s Governor

(Jakarta, 13/3) – Vice President Jusuf Kalla said, Government still regarded Commission IX of the House of Representatives’ decision and wouldn’t interfere in the House’s internal regarding the rejection of Indonesian Bank Governor’s candidates which delivered by Government.

“Government obviously will honour duties and functions of the House. Government wouldn’t interfere in the House internal matters,” said Vice President Jusuf Kalla to reporters in Jakarta.

However, said He, with rejection derived from Commission IX of the House, government will then evaluated. “Obviously we need to evaluate and get the wisdom of it. We (government) still respect on each task and authority (the House),” Vice President said.

Nevertheless, Kalla explained Government would still hold on to rules of law. Vice President said Commission IX’s rejection was not final, the changes are available during plenary session. “Decision is made in plenary session, not commission, it means everything might happen (change),” he said.

According Vice President, if only the House plenary session decided to push aside both candidates, then Government would submit other applicants in two weeks.

However, Kalla hasn’t revealed possible candidates to be offered. He said it might have been that the applicants derived from BI internal. “All this time is proportional, whether internal or external. And it is (BI internal – red) not main condition,” Kalla said.

Vice President clarified, before the submission of BI Governor’s candidates, President Yudhoyono has spoken to him about that. At the moment he would also speak beforehand with the President. (Ant/Nurseffi/Trans.Lala)

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The Eleventh KTT OKI Opens Thursday

(Dakar) – The eleventh High Level Conference of Islamic Conference Organization (KTT OKI) will be opened Thursday morning around 10.00 AM of Dakar, Senegal’s time or Thursday afternoon of Indonesia’s, around 5.00 PM.

The opening session of OKI will be held officialy in Le Meridien Hotel-President, Dakar, Senegal, by Malaysian Prime Minister Abdullah Ahmad Badawi, as the tenth KTT OKI’s chairman.

The opening event is followed with the new OKI’s chairman election, also opening speech by OKI’s new chairman, Senegal’s President Abdoulaye Wade. The eleventh KTT OKI scheduled to adopt new working program and agenda also OKI’s General Secretary Ekmeleddin Ihsanoglu hearing report.

Indonesian delegacy led by President Susilo Bambang Yudhoyono will focus on revitalization effort of OKI’s role to be its country member’s container in order to answer the Islamic challenge of twenty one century.

In OKI’s council break, President Yudhoyono also scheduled to conduct both sides meeting with number of head of states, such as Palestine, Lebanon, Jordania, and Sudan. The eleventh KTT OKI took place from 12-15 March 2006. (Ant/Nurseffi/Trans.Lala)

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BLBI’s Transfer Case, KPK’s First Step to Synergize

(Jakarta, 13/3) – Exhortation of some sources to demand Corruption Eradication Commission (KPK) taking over the case of Indonesian Bank Liquidity Effort (BLBI) fund was estimated by law observer Hikmahanto Juwana as first step for KPK to synergize.

“It’s fine however, considering KPK’s duty in synergizing law process over corruption criminal act, other than clearance of law institutions, police force, attorney, and court,” Juwana said as told by Indonesia Now.

Juwana explained, the step was a good intention delivered by KPK. “It’s ok if the argumentation was qualified, better than being rejected in the court,” said Juwana.

In separate place, attorney general Hendarman Supandji claimed he would not hamper and always support if KPK wanted to take over BLBI’s case. “It’s not a big deal for me. If KPK able to handle corruption indicated,” he cleared. (Dhita/Trans.Lala)

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Indonesia and Iran Agreed to Build Oil Mill

(Teheran, 12/3) – Indonesian Government and Iran has agreed to realize oil mill development in Banten with 300 thousands barrel production capacity each day.

President Susilo Bambang Yudhoyono told the reporters at press conference in Saad Abad Palace, Teheran, on Tuesday night.

PT Pertamina (shareholder), Oil Refining Industries Developing Company (ORIDC) and Petrofield Refining Company Ltd (Malaysia) involved in cooperation. “The Stock shared 40 percent on Pertamina, 40 percent on Iran and 20 percent on Malaysia,” he said.

President Yudhoyono hoped with the new oil mill worth 6 billion US $ would risen domestic fuel stock. In addition to lowering price from the domestic processing. He said that energy sector collaboration especially oil and gas indeed became main focus of both countries. He also explained Pertamina had followed oil exploitation tender in Iran.

Except the oil mill development agreement, both countries have compromised deal between PT Pusri and one factory in Iran to build Petrochemical factory strived for keeping fertilizer stock.

Moreover, President explained the importance of choosing company partner which committed in giving advantage to society, not like mining projects in the past which less advantageous to public. It is mentioned even if Iran was struck by embargo in many aspects; the collaboration however would be safely guaranteed. (Ant/Nurseffi/Trans.Lala)

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