The realization of the average Indonesian Crude Price (ICP) increased to 42 US dollars per barrel by September 2020 from the macro assumption of the Revised State Budget (APBN-P) of 38 US dollars per barrel.
This has a positive impact on state revenues which reached 6.99 billion US dollars or 119 percent exceeding the Revised Budget target of 5.86 billion US dollars.
The Head of the Bureau of Communication, Public Information Services, and Cooperation (KLIK) of the Ministry of Energy and Mineral Resources Agung Pribadi in a written statement on Tuesday said that the realization of this ICP exceeded the ICP target set in the 2020 APBN-P.
"Average ICP the APBN-P itself is set at 38 US dollars per barrel," said Agung.
The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) projects that the emergence of COVID-19 wave 2 is expected to cause an average ICP per year of US $40 per barrel so that the outlook for state revenues from the upstream oil and gas sector at the end of 2020 will reach 7.21 billion US dollars.
For cost recovery control, until September 2020, the realization had reached the $5.97 billion from the target of $8.12 billion or around 73.5 percent.
Meanwhile, the investment realization in the third quarter was supported by Pertamina E & P, CPI, Pertamina Hulu Mahakam, BP Berau, and Eni East Sepinggan. This achievement had a major impact on the country's economy.
"When conditions are difficult like this, the country needs an economic turnaround. We are sure that upstream oil and gas investment will create a side impact on the Indonesian economy so it can restore the economy," hoped the Head of SKK Migas Dwi Soetjipto.
Dwi acknowledged that the COVID-19 pandemic affected the management of the upstream oil and gas sector.
"Due to the emergence of the second wave of the COVID-19 pandemic, the condition of world oil demand is still unstable. This will affect world oil price movements," he said.
According to him, COVID-19 affects postponing several projects, reducing investment. With a falling selling price, it will also affect cash flow, and funds will be more focused on productive Oil and Gas Work Areas (WKs).
Globally, it is estimated that investment in the oil and gas sector will decrease by around 30 percent. (Antaranews)
Indonesia is encouraging the immediate reform of the United Nations Educational, Scientific, and Cultural Organization (UNESCO) to adapt it to today's world, Indonesia’s permanent delegate to the world body, Arrmanatha Nasir said.
UNESCO's reform is part of UN reform, he said, while addressing an online seminar commemorating 70 years of Indonesia-UNESCO relations on Monday.
Calls for UN reform have mounted ever since they came to a standstill, he noted.
"If UNESCO wants to remain relevant, maybe we must first conduct strategic transformation more quickly. It (strategic transformation) was launched several years ago, but it works slowly," he remarked.
The strategic transformation within the multilateral body may cover organizational structure, efficiency, work method, and reprogramming, he observed.
“The reprogramming must also be on the target," he said.
In October 2017, the US had quit as a UNESCO member, demanding reform at the world body. The US also opted to become an observer country within the organization.
Hopefully, not just UNESCO will carry out the strategic transformation, but Indonesia could also internally play an optimum role and contribute to the Paris-based organization, Nasir said.
"Once again, we must look at how to sharpen interest and strategy in UNESCO. If viewed from Paris' perspective, we have worked very hard, but we have not had the same commitment in preservation," he added. (Antaranews)
Indonesia is encouraging the “immediate” reform of the United Nations Educational, Scientific and Cultural Organization (UNESCO) to adapt it to today's world, Indonesia’s permanent delegate to the world body, Arrmanatha Nasir, said.
UNESCO's reform is part of UN reform, he said, while addressing an online seminar commemorating 70 years of Indonesia-UNESCO relations on Monday.
Calls for UN reform have mounted ever since they came to a standstill, he noted.
"If UNESCO wants to remain relevant, maybe we must first conduct strategic transformation more quickly. It (strategic transformation) was launched several years ago, but it works very slowly," he remarked.
The strategic transformation within the multilateral body may cover organizational structure, efficiency, work method, and reprogramming, he observed.
“The reprogramming must also be on the target. It must not merely be motivated by donor countries' wish or several groups' interests,” Nasir, who is concurrently the Indonesian ambassador to France, said.
In October, 2017, the US had quit as a UNESCO member, demanding reform at the world body. The US also opted to become an observer country within the organization.
Hopefully, not just UNESCO will carry out the strategic transformation, but Indonesia could also internally play an optimum role and contribute to the Paris-based organization, Nasir said.
"Once again, we must look at how to sharpen interest and strategy in UNESCO. If viewed from Paris' perspective, we have worked very hard, but we have not had the same commitment in the context of preservation," he added.
Turkish leader Tayyip Erdogan asked his compatriots to stop buying French goods on Monday in the latest expression of anger in the Muslim world over images being displayed in France of the Prophet Mohammad, which some Muslims consider blasphemous.
In Bangladesh on Monday, protesters held placards with a caricature of French President Emmanuel Macron and the words: “Macron is the enemy of peace”, while Pakistan’s parliament passed a resolution urging the government to recall its envoy from Paris.
Erdogan, who has a history of fraught relations with Macron, said France was pursuing an anti-Islam agenda.
“I am calling to all my citizens from here to never help French brands or buy them,” Erdogan said.
The Turkish president has made similar boycott calls in the past, including an appeal not to buy U.S. electronic goods in 2018 that was not followed through.
Erdogan on Monday joined a chorus of voices calling for a boycott. In Kuwait city, a supermarket had stripped its shelves of L’Oreal cosmetics and skincare products after the cooperative union to which it belongs decided to stop stocking French goods.
In Saudi Arabia, calls for a boycott of French supermarket chain Carrefour were trending on social media, though two stores Reuters visited in the Saudi capital on Monday seemed as busy as normal. A company representative in France said it had yet to feel any impact.
France is a major exporter of grain to mainly-Muslim North Africa, and French companies in the autos and retail sector also have significant exposure to majority-Muslim countries
French Trade Minister Franck Riester said it was too early to put a figure on the impact of the boycott campaign but so far it was limited and mainly affected French agricultural exports. (Reuters)
Minister of Marine Affairs and Fisheries (KKP) Edhy Prabowo encourages the optimization of the lands owned by the KKP and collaborates with cross-agency and capital institutions as a strategic effort to increase fishery cultivation production.
"To achieve the increase in the productivity of aquaculture that has been mandated, the important thing is how to realize it in strategic and realistic steps," said Minister Edhy in his remarks on the Increase in Aquaculture Production Through Optimization of Assets BRSDM in collaboration with LPMUKP in Jakarta, Monday.
He added that the next strategic step is to increase the capacity of human resources to run fishery cultivation businesses.
"We need to form superior human resources who are professional, independent, and never give up and who are able to manage these aquaculture lands," he said.
Excellent human resources in the context of developing aquaculture production, continued Minister Edhy, are fisheries communities and students who take education in the marine and fisheries sector.
He hopes that its implementation can improve the competence of the fishery community and students so that they have experience in carrying out entrepreneurial activities.
Especially for students, according to him, this opportunity can be a stimulus as well as a motivation that will lead to young entrepreneurs coming from KKP education unit graduates, especially in the field of aquaculture.
"I welcome and support the event to increase the production of aquaculture through optimization of BRSDM assets in collaboration with BLU-LPMUKP," he said.
Minister Edhy hopes that this moment will become a forerunner for other Satker to optimize their assets, especially lands that have not been used optimally for aquaculture activities by utilizing the BLU-LPMUKP revolving fund.
"Hopefully this moment will be a good step to raise our enthusiasm towards the strongest maritime country," he said.
A total of 18 cooperatives within the Marine and Fisheries Research and Human Resources Agency (BRSDM), KKP, and two new entrepreneurs from Assisted Fisheries Extension (PPB) together with the assisted community groups simultaneously carry out fishery cultivation businesses.
They took advantage of capital assistance funds from the Maritime and Fisheries Business Capital Management Institution (LPMUKP) with a total value of IDR 19.8 billion.
According to the plan, the funds will be used for the utilization of a pond area of 170,276 m2. (Antaranews)