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It has also to foot the bill for Indonesia’s fuel subsidies. Ratings agency Standard & Poor’s says this cost Pertamina $1.5 billion-$2 billion in lost profit last year cufflinks argos. While Malaysia also subsidizes fuel, the cost is shouldered by the government, not Petronas. Pertamina’s profits were under 5 trillion rupiah ($352.73 million), the lowest in over a decade, in the first half of 2018. Full 2018 results are yet to be announced. Petronas, by contrast, achieved 26.6 billion ringgit ($6.54 billion) profit during that time, company data showed..
As President Joko Widodo seeks re-election this year, it seems unlikely that Indonesia’s oil subsidies will be rolled back any time soon. Chief executive Widyawati, Pertamina’s third CEO in as many years, has made her thoughts clear on subsidies. “The regulation is clear,” she told reporters last month, adding fuel “intervention is good” cufflinks argos. Should the opposition win, some change may come. “If we free Pertamina from political intervention, I am sure the profits will return,” opposition vice presidential candidate Sandiaga Uno told Reuters..
Wood Mackenzie estimates Pertamina needs to boost spending to $6 billion in 2022, from just over $4 billion last year, just to maintain output. Pertamina’s refinery plans and debt servicing will require another $23 billion up to 2025. “Indonesia and Pertamina could capitalize on the discovery made last week by Repsol, which will attract attention from explorers cufflinks argos. If they can capture some of this interest, Pertamina may find additional partnership opportunities,” said Max Petrov, a senior corporate analyst at the consultancy..
NEW YORK (Reuters) – Sears is back into court, less than one month after emerging from bankruptcy protection cufflinks argos. The retailer was sued on Wednesday by Stanley Black & Decker Inc, which accused it of breach of contract and trademark infringement over its new line of professional-grade mechanics tools under the Craftsman Ultimate Collection brand. Sears did not immediately respond to requests for comment. The complaint was filed in Manhattan federal court. Craftsman had been an iconic Sears brand before Stanley paid about $900 million for it in March 2017, while giving Sears what it called a “limited” license to sell some Craftsman products..
But according to the complaint, Sears breached the license agreement by launching its new tool line and touting its stores as “the real home of the broadest assortment of Craftsman.” cufflinks argos. Stanley said the tagline falsely implies that other Craftsman products are “somehow illegitimate.”. It also said Sears’ actions threaten to confuse shoppers and irreparably harm Stanley’s own Craftsman brand and trademarks, as well as its goodwill and customer relationships. Sears emerged from Chapter 11 in February after longtime Chairman Edward Lampert, who oversaw its years-long descent into bankruptcy, won court approval for a $5.2 billion takeover, which included the Craftsman licensing rights..