Page 11 - AsianOil Week 34 2021

AsianOil NEWS IN BRIEF AsianOil

SOUTH ASIA effectiveness of this constant vigil, the issue of USD Notes, both to support the
movement of line patrolmen and DGR guards Company’s growth agenda. Shareholders
IndianOil use tech to tackle are monitored through Global Positioning also approved the appointment of Ibu Yani
System (GPS) enabled devices. The existing
Panigoro as Chair of the Company’s Board of
pipeline thefts Right of Way (ROW) of the pipelines is also Commissioners.
Hilmi Panigoro, President Director
mapped through Geo-Fencing. Such GPS-
The 15,000 KM plus country-wide IndianOil’s tracked physical inspections also help spot of MedcoEnergi said, “We weathered a
pipeline network serves as underground and identify abnormalities like loose soil, challenging year with discipline, resilience
energy highways of India that are assets of the smell of leaked petroleum products or and flexibility. The Board of Directors greatly
crucial national importance. These pipelines suspicious vehicle tyre marks in the vicinity appreciates the trust and confidence of
carry highly inflammable petroleum products of the pipelines. IndianOil teams, along with MedcoEnergi shareholders, lenders and other
at high pressure. Any pilferage attempt on local Police, also undertake periodic joint- stakeholders and extends its gratitude to the
these pipelines can cause serious accidents patrolling of vulnerable locations to track any Board of Commissioners for their supervision
that threaten lives and damage property unauthorised activities. and guidance.”
besides interrupting energy supplies. Any To further boost the security of its MEDCOENERGI, August 26, 2021
pilferage attempt on these pipelines is a grave pipelines, IndianOil has undertaken focused
offence under Sections 15 and 16 of The digital initiatives like the optical fibre Hibiscus post robust FY2021
Petroleum and Mineral Pipelines (Acquisition based Pipeline Intrusion Detection and
of Right of Way) Act 1961. Such criminal acts Warning System (PIDWS). This system is results
are non-bailable offences, and intruders are presently under implementation at 5474
punishable with rigorous imprisonment for KM of its pipeline length. The system Hibiscus Petroleum today released a
ten years or more. is already functional for 997 KM of the Corporate and Business Update outlining
IndianOil has deployed a robust round- pipeline network, and the remaining will be the Group’s targets and initiatives as well as
the-clock monitoring system to track pipeline commissioned by 2022-23. operational updates in conjunction with the
pilferage or any other such disruptive INDIANOIL, August 25, 2021 release of its quarterly financial results for the
attempts on its pipeline network. The quarter ended 30 June 2021.
Corporation closely monitors the pipeline The Group reported that its full year
flow, pressure parameters, and trends through SOUTHEAST ASIA FY2021 financial results recorded year-on-
an Instrumentation and Supervisory Control year growth in both revenue and EBITDA
and Data Acquisition (SCADA) system. In MedcoEnergi AGM results by 24% and 79% respectively. The full year
addition to this, a Leak Detection System PAT of RM103.7 million attained in FY2021
(LDS) ensures 24X7 analysis to identify Medco Energi Internasional held its Annual overturned the loss after taxation incurred in
tentative vulnerable points. General Meeting of Shareholders (AGMS) on FY2020.
Moreover, a comprehensive system of August 26, 2021. The full year FY2021 results were mainly
physical inspection of the entire network As well as the customary AGMS agenda attributed to the higher volume of crude oil
on foot by line patrolmen and DGR guards items, shareholders approved resolutions sold of 3.7 million barrels as compared to 2.6
are also in place. To further enhance the for a Pre-Emptive Rights Issue and a new million in FY2020, increasing crude oil price

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