PT Pertamina (Persero) and PT Pertamina Patra Niaga, Sub Holding Commercial & Trading participated in the leading international industrial exhibition, Hannover Messe 2024. (Pertamina doc photo)
JAKARTA – PT Pertamina (Persero) and PT Pertamina Patra Niaga, Sub Holding Commercial & Trading participated in the leading international industrial exhibition, Hannover Messe 2024. In the exhibition which took place from April 22 to April 26 in Hannover, Germany, Pertamina Patra Niaga explained its efforts equal distribution of energy from the west to the east of Indonesia.
President Director of PT Pertamina (Persero) Nicke Widyawati in a discussion session at Pavilon Indonesia explained Pertamina’s role as a BUMN that manages energy in an integrated manner with the complexity of the energy ecosystem in Indonesia.
“Pertamina is the only state-owned company that is developing an integrated energy business covering upstream, midstream and downstream operations. Our reach is not only limited to the domestic market, we also have a significant presence abroad. However, our main goal remains to strengthen energy independence and security in the country us,” he said.
Nicke revealed Pertamina’s strategy in developing refineries amidst the global energy transition. According to him, although Pertamina is committed to sustainable business, energy security remains a top priority. “Refinery development efforts focus on increasing efficiency, reducing sulfur and nitrogen content and mitigating greenhouse gas emissions,” he said.
President Director of Pertamina Patra Niaga Riva Siahaan said, as Pertamina’s leading subholding for the community’s energy needs, Pertamina Patra Niaga continues to strive to meet energy needs throughout Indonesia.
“This is distributed from west to east Indonesia, and the largest volume of our business is related to transportation fuel. “Pertamina Patra Niaga also meets fuel needs for industry,” he said in a session at Hannover Messe 2024.
In this industrial exhibition which discussed technological advances, innovation and global collaboration, Riva also explained the company’s efforts to provide an understanding of energy to the public. In this case, Pertamina Patra Niaga is collaborating with Ecadin, equipping Pertamina officers as ambassadors to educate the public.
“Apart from that, at Pertamina Patra Niaga, because we are the leading point in communicating with the community, we also carry out an activity called a sustainability academy,” he said.
Apart from that, Riva talked about Pertamina Patra Niaga’s efforts to produce environmentally friendly fuel, Pertamina Sustainable Aviation Fuel (SAF) or Bioavtur. Last year Pertamina and Garuda Indonesia carried out their first commercial flight using SAF as an effort to reduce emissions and support the achievement of the Net Zero Emission target.
“We together with Garuda Indonesia airline conducted a test flight using SAF,” he said.
Also present on this occasion were Commission VII DPR RI Maman Abdurrahman, Dony Maryadi Oekon, and Eddy Soeparno, and the Indonesian Ambassador to Germany Arif Havas Oegroseno.
(ars)
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2024-04-27 06:39:22
https://www.worldysnews.com/pertamina-patra-niaga-explains-indonesias-energy-distribution-efforts-at-hannover-messe-2024/
The Challenges Faced by Miners: Understanding the Struggles of the Industry
Recent data indicates a significant decline in interest surrounding the new Bitcoin Runes, which could have negative implications for miner revenues.
Impact of Bitcoin Halving on Miner Revenue Amid Decreased Runes Interest
Just a few days ago, the highly anticipated Bitcoin Halving event took place. Halvings are pre-programmed occurrences within the blockchain that result in a 50% reduction in BTC block rewards. These events happen every four years, with the most recent one marking the fourth occurrence.
The block rewards, which are heavily impacted by Halvings, represent one of the primary revenue streams for miners. These rewards serve as compensation for solving blocks and have historically been a major source of income for miners.
Following a Halving event, miner revenues typically experience a significant drop. However, in the aftermath of the latest Halving, miner revenues surged to a record $100 million.
While the block rewards were halved during the event, the transaction fees, which constitute the miners’ secondary income stream, experienced a substantial increase. This surge in fees helped offset the expected revenue decline post-Halving.
The introduction of the Runes protocol on Halving Day played a crucial role in this fee spike. The Runes protocol enables the creation of fungible tokens on the Bitcoin blockchain.
Fungible tokens are identical to each other, similar to individual BTC satoshis (sats). In contrast, non-fungible tokens (NFTs) are unique tokens.
The Runes protocol quickly gained popularity among users, leading to a sharp rise in network activity and transaction fees. Increased network usage directly correlates to higher transaction fees.
During periods of high network traffic, transactions may face delays due to limited network capacity, prompting users to pay higher fees for faster processing.
Data provided by the on-chain analytics firm CryptoQuant illustrates a significant surge in total transaction fees following the launch of Runes.
Recent data indicates a notable increase in transaction fees | Source: CryptoQuant on X
The chart demonstrates a decline in this metric following a peak, indicating a decrease in interest in Runes after the initial hype.
Consequently, Bitcoin mining revenues, which initially saw a significant boost post-Halving, have now declined.
Recent data shows a notable decrease in miner revenue | Source: CryptoQuant on X
Bitcoin miner revenue has now dropped to $50 million, half of the previous peak at $100 million. The temporary support provided by Runes has diminished, placing pressure on miners as revenue declines.
Bitcoin Price Movement
Currently, Bitcoin is trading around $63,900, reflecting a slight decrease of over 1% in the past week.
Recent data shows a decline in Bitcoin price over the past few days | Source: BTCUSD on TradingView
Image source: iStock.com, CryptoQuant.com, chart from TradingView.com
The Challenges Faced by Miners: Understanding the Struggles of the Industry
Seoul Real Estate Market Booms with Over 4,000 Transactions in March
real estate
Entered 2024.04.27 09:32 Modified 2024.04.27 11:03
Seoul’s transaction volume is more than 4,000
Actively changing hands in Songpa, Seongdong, Mapo
A panoramic view of ‘Helio City’ in Garak-dong, Songpa-gu, Seoul. /Photo = Hankyung DB Seoul apartment transaction volume exceeded 4,000 per month for the first time in 2 years and 7 months. The analysis is that the ‘transfer demand’ for moving to popular residential areas is increasing, and the change of active hands in preferred areas such as Songpa, Seongdong, and Mapo has led to an increase in transaction volume.
According to the Seoul Real Estate Information Plaza on the 28th, as of the 26th, the volume of apartment transactions in Seoul in March was 4,039. The number of monthly transactions exceeded 4,000 for the first time since August 2021 (4,065). Last February alone, there were only 2,511 cases, but the number increased by around 1,500 in just one month. Transactions have increased in the past month across all 25 districts in Seoul. Songpa-gu had the biggest increase, increasing by 128 cases from 171 last February to 299 last month. Double-digit transaction volumes were recorded at major complexes in Songpa-gu, including Helio City in Garak-dong (39 cases), Parkrio in Sincheon-dong (22 cases), Trizium in Jamsil-dong (16 cases), and Ricenz and Jamsil Ls (14 cases each).
Prices also tend to rise. Helio City’s exclusive area of 84㎡ changed hands last month for 2.15 billion won (11th floor). This month too, three transactions were made in the won range of 2.1 billion. In January this year, it traded in the 1.9 billion to 2 billion gain range. The basic ransom price rises to more than 2.1 billion won. The price of 84㎡ alone for Jamsil Els has also jumped from 170 million won, from 2.23 billion won (20th floor) in January to 2.4 billion won (23rd floor) last month.
Gangseo-gu (122 → 233), Seongdong-gu (112 → 219), and Mapo-gu (104 → 209) also saw an increase of more than 100 transactions last month compared to February. In Gangseo-gu, Gayang-dong Gangbyeon Complex 3 and Gayang 6 Complex attracted attention with 10 transactions each. As the Gayang area has been added to the list of subjects subject to the ‘Special Law on the Aging of Planned Cities’ introduced by the government in January, expectations for reconstruction have increased. In Seongdong-gu, apartments in Oksu-dong, Haengdang-dong, and Geumho-dong were popular. Oksu-dong e-Pyeonhansesang Oksu Park Hills (16 cases), Haengdang-dong Haengdang Daelim (10 cases), Geumho-dong e-Pyeonhansesang Geumho Park Hills (10 cases), Haengdang-dong Seoul Forest River View Xi (10 cases) , etc. had more than 10 cases each in March. In Mapo-gu, there were a high number of local high-priced apartment transactions, including Mapo Raemian Prugio in Ahyeon-dong (13 cases), Mapo Grand Xi in Daeheung-dong (12 cases), and Mapo Prestige Xi in Yeomni-dong ( 10 cases). In the case of Mapo Prestige Xi, an exclusive 84㎡ unit was sold for 1.97 billion won last month and is about to rejoin the ‘2 billion’ club.
Soo-min Yoon, a real estate expert at NH Nonghyup Bank, said, “Recent consumers who were pushing for change took advantage of the recent slight drop in mortgage interest rates,” adding, “Instead of demand for investment, there was a lot of movement in the form of moving regions or expanding square footage.” he explained.
Reporter Inhyuk Lee
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Seoul Real Estate Market Booms with Over 4,000 Transactions in March