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orb ..

April 16, 2008 at 10:40 pm · Filed under Economy, Media

Ooo, so its like that. Got these when i stumble in Google for a keyword Minas, found few blog and some related description. In which it describe, what price settlement are based on for OPEC member. It is referred as references basket (ORB), and for Indonesia the price are based on Minas (Indonesia) crude.

So, in the term of meaning ORB is weighted average of crude price of each member production. The price itself fluctuate, like last Feb 28th Minas crude price are higher than ORB (Minas at US$98.85/barrel and ORB at US$94.99/barrel).

These are meant as intermezzo, just another info i would like to share here.

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fuel card ..

February 13, 2008 at 10:17 am · Filed under Economy, Thought

Yup, another breakthrough by our government to introduce newest stuff to control excess use of energy reserve around the country. Its called fuel smart card, which soon be release in May 2008.

I don’t know is it coincidence or what, similar to our government policy, Iranian had it test implemented last year (i think). Imagine, Iran 1 of the world largest oil producer and Indonesia 1 of the lowest oil producer having almost the same fuel control policy.

Read more ..

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