We all know QPN has the untapped resourced o assit and with...

We all know QPN has the untapped resourced o assit and with their Indonesia stakeholders

Isn't this postive for QPN Investors going forward?

Again the country is crying out for help...while our competitors Off load.
This I suggest if QPN has the volume should increase their stake holdings.

Reference Jarkata Globe


The consumption of subsidized fuel in Indonesia has surpassed the quota set by the government in the first three months of the year, despite the fact that the price of oil-based fuel in Indonesia is among the lowest in the world.

The energy and mineral resources minister, Jero Wacik, said on Thursday that the monthly consumption of subsidized fuel quota was 6 percent more than the quota set during the January-March period. The minister cited the “wasteful” lifestyle of Indonesians as the main cause.

Admitting that the government’s measures to curb subsidized fuel consumption have been ineffective, Jero said the government will not make any “hasty” decision to raise the price of subsidized fuel as it could affect the ongoing attempt to curb poverty.

“If we do not think this through, it will affect the poor. We will intensely discuss this. So don’t rush anything, because this is sensitive and vital,” he added.

The minister, however, agreed that the subsidized fuel policy is a misallocation of resources as the main beneficiaries are well-off individuals. “Almost everyone said that 77 percent of the beneficiaries from subsidized fuel are people from the upper and middle class.”

The government is projected to spend more than Rp 300 trillion ($30.9 billion) for subsidized fuel and electricity this year, far above the Rp 275 trillion earmarked in the state budget.

Hatta Rajasa, coordinating minister for the economy, said that the measures to ban subsidized fuel consumption for government-owned vehicles and operational vehicles for mining, oil, gas and plantation firms have had little impact. “We admit that the volume [of reduction] is very small, around 1.3 million kiloliters,” he added.

State-owned energy firm Pertamina said that while the consumption of subsidized gasoline is still below the quota, the consumption of subsidized diesel had exceeded the quota by 5 percent.

Ali Mundakir, Pertamina’s vice president of corporate communication, said that the sales of subsidized gasoline at Pertamina were 7.04 million kiloliters in the first three months, which is below the quota of 7.16 million kiloliters.

Ali suggested that the consumption of subsidized gasoline could be suppressed due to Pertamina’s aggressive campaign for non-subsidized gasoline. He added that during the same period, the sales of non-subsidized gasoline had increased5 percent from a year earlier.

The sales of subsidized-diesel were at 3.7 million kiloliters during the period, while the quota was set at 3.52 million kiloliters, Ali said.

“Diesel consumption continues to increase in line with economic growth,” he added. Due to its nature, diesel fuel is widely used in large-sized vehicles like trucks, buses and ships.

Pertamina is tasked to distribute 45.01 million kiloliters of subsidized fuel. The energy firm plans to install a new IT system to record subsidized fuel purchases at gas stations across Greater Jakarta in July. Pertamina claims the system will cut consumption by 1.5 million kiloliters.