PT Lapindo Brantas
PT Lapindo Brantas is an Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...

n oil and gas exploration company.

It is a subsidiary owned by PT Energi Mega Persada Tbk and 60% owned and controlled by the Bakrie Group. The Bakrie Group is owned by the former Coordinating Minister for the People's Welfare Aburizal Bakrie
Aburizal Bakrie
In this Indonesian name, the name "Bakrie" is a family name, and the person should be referred to by the family name "Bakrie".Aburizal Bakrie is an Indonesian entrepreneur and politician.- Family business :...

 and his brothers. Lapindo Brantas has taken over the initial responsibility and costs caring for the mitigation of the effects of the Sidoarjo mud flow
Sidoarjo mud flow
The Sidoarjo mud flow or Lapindo mud, also informally abbreviated as Lusi, a contraction of Lumpur Sidoarjo , is a mud volcano in the subdistrict of Porong, Sidoarjo in East Java, Indonesia that has been in eruption since May 2006...

. It indicated to have set aside $ 140 million of which half had been used by September 2006. While officially not running the family business since joining the cabinet, A. Bakrie received protests by environmentalist
An environmentalist broadly supports the goals of the environmental movement, "a political and ethical movement that seeks to improve and protect the quality of the natural environment through changes to environmentally harmful human activities"...

s in view of the damage done by his family's company.

In September 2006 Lapindo Brantas was sold for $ 2 to Lyte Ltd, an off-shore company founded earlier in 2006 by the Bakrie Group. In this way Energi that had suffered a major loss in shareholder value would be released from the responsibilities connected with the calamity. There is concern, however, that Lyte Ltd (now renamed Bakrie Gas & Oil) as a limited off-shore company may declare bankruptcy and thus relieve investors of further obligations that may well reach $ 1 billion.
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