• Latest
  • Trending
Shell Asks Indonesia to Reconsider New Fuel Pricing Policy

Shell Asks Indonesia to Reconsider New Fuel Pricing Policy

April 15, 2018
Enforcing Regulations for Forest Risk Commodities

Enforcing Regulations for Forest Risk Commodities

February 27, 2021
Police Scotland offered oil rig to train for protest-plagued North Sea

Police Scotland offered oil rig to train for protest-plagued North Sea

February 27, 2021
Young car enthusiasts spend $7.2 billion a year customizing vehicles

Young car enthusiasts spend $7.2 billion a year customizing vehicles

February 20, 2021
Indonesian billionaire family in the crosshairs of corruption reporting

Indonesian billionaire family in the crosshairs of corruption reporting

February 11, 2021
Greenpeace: A threat to national security?

Greenpeace: A threat to national security?

February 10, 2021
Myanmar’s military takes power detains Suu Kyi

Myanmar’s military takes power detains Suu Kyi

February 2, 2021
Top 20 Hottest African Women

Top 20 Hottest African Women

February 2, 2021
How Africa can benefit from the new commodity super cycle

How Africa can benefit from the new commodity super cycle

February 2, 2021
Moving Israel to CENTCOM: Another Step Into the Light

Moving Israel to CENTCOM: Another Step Into the Light

February 2, 2021
Did Donald Trump Successfully Realign U.S. Global Power and Interests?

Did Donald Trump Successfully Realign U.S. Global Power and Interests?

February 2, 2021
Trump gone, Biden here…and Indonesia?

Trump gone, Biden here…and Indonesia?

January 29, 2021
Moscow: The Navalny riots

Moscow: The Navalny riots

January 26, 2021
citizendaily
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports
No Result
View All Result
Saturday, February 27, 2021
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports
No Result
View All Result
citizendaily
No Result
View All Result

Shell Asks Indonesia to Reconsider New Fuel Pricing Policy

April 15, 2018
in Economy, Featured, Indonesia
0
Home Economy
Post Views: 303

 

Royal Dutch Shell has asked Indonesia to rethink a policy allowing the government to control domestic fuel pricing, a company official said, an area “fundamental” to its fuel distribution business.

Indonesia’s Ministry of Energy and Mineral Resources announced on Monday (09/04) that President Joko “Jokowi” Widodo wanted to issue rules allowing the government to regulate fuel prices to control inflation.

Non-subsidised fuel prices are currently set by retailers, but under a planned regulation the government would have the right to decide whether retailers can change fuel prices.

RelatedPosts

Indonesia among preferred markets in ASEAN, DBS says

Government open to possibility of BI buying zero-coupon bonds

Indonesia eyes growth rebound with exit from virus lockdowns

Govt Allocates Rp15 trillion for Disaster Fund

Indonesia’s Economy Shows Real Signs of Acceleration

Shell operated in many countries and understood “government concerns related to the impacts of increasing consumer fuel prices on inflation,” Shell Indonesia’s retail director, Wahyu Indrawanto, said in an emailed statement reviewed by Reuters late on Thursday.

Shell had observed several alternative policies to control inflation and had “passed them on to the government hoping this can be given further consideration,” Indrawanto said.

“In principle, certainty of being able to sell consumer fuel at economic prices is fundamental to maintaining an investment climate and sustainability in Shell’s fuel distribution business,” Wahyu said.

Finance Minister Sri Mulyani Indrawati said on Thursday that maintaining commodity supplies and prices were important elements in maintaining low and stable inflation to keep Indonesian economic growth above 5 percent.

Indonesia was “not going back to what we call a practice that is going to subsidise everything, or in this case curtailing the market mechanisms,” Indrawati said in response to questions on the subsidy policy at a press conference.

“Of course, just like in transport, there is always healthy and non-healthy competition, excessive profit and non-excessive profit.”

The fuel pricing policy would follow an existing rule on the retail fuel sector that governed pricing and operations, she added.

“We are focussing on enforcement and policy instruments that can protect our people’s confidence that our economy is growing [and] that we can guard against external fluctuations, be it oil prices, Fed interest rates [or] a trade war,” Sri Mulyani told reporters separately while attending meetings at the parliament.

President Jokowi won international praise and sovereign bond rating upgrades for Southeast Asia’s largest economy after cutting government fuel spending by more than 90 percent and shifting the burden of petroleum subsidies to Pertamina shortly after taking office in 2014.

But the latest energy policies contrast with his earlier moves to eliminate subsidies and have raised concerns among some economists.

Net oil importer Indonesia’s fuel subsidies have been blamed for creating a false economy, widespread smuggling and corruption.

Source :
Jakarta Globe
Tags: Fuel PriceFuel Pricing PolicyShellSri Mulyani Indrawati
Previous Post

Indonesia, China sign $23.3b in contracts

Next Post

Indonesian exams ‘too hard’, students ‘want to die’

Related Posts

Enforcing Regulations for Forest Risk Commodities
ASEAN

Enforcing Regulations for Forest Risk Commodities

February 27, 2021
Police Scotland offered oil rig to train for protest-plagued North Sea
ASEAN

Police Scotland offered oil rig to train for protest-plagued North Sea

February 27, 2021
Young car enthusiasts spend $7.2 billion a year customizing vehicles
Asia News

Young car enthusiasts spend $7.2 billion a year customizing vehicles

February 20, 2021
Indonesian billionaire family in the crosshairs of corruption reporting
Asia News

Indonesian billionaire family in the crosshairs of corruption reporting

February 11, 2021
Greenpeace: A threat to national security?
Climate Change

Greenpeace: A threat to national security?

February 10, 2021
Myanmar’s military takes power detains Suu Kyi
ASEAN

Myanmar’s military takes power detains Suu Kyi

February 2, 2021
Next Post
Indonesian exams ‘too hard’, students ‘want to die’

Indonesian exams 'too hard', students 'want to die'

Translate

Subscription

Popular Post

Enforcing Regulations for Forest Risk Commodities
ASEAN

Enforcing Regulations for Forest Risk Commodities

February 27, 2021
0

  Brussels (21/2 - 33.33).           On 23 July 2019, the European Commission adopted an Communication on...

Read more

NGOs call for mass boycott of palm oil giant IOI

June 29, 2016
No peace for Greenpeace

No peace for Greenpeace

July 1, 2016

The Case Against Greenpeace

July 1, 2016
Children in ISIS Nusantara Media Outreach

Children in ISIS Nusantara Media Outreach

July 2, 2016
  • About Us
  • Creative Commons
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Contact Us

Topics

Follow Us

About Us

citizendaily.news is part of the citizen Daily Media Group LLC, which delivers daily news around the globe. ​

© 2012 The Citizen Daily

No Result
View All Result
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports

© 2012 The Citizen Daily