JAKARTA: Ministry of Energy and Mineral Resources proposed the assumed Indonesian Crude Price (ICP) for 2012 at US$75-US$95 per barrel and oil lifting is targeted at 950,000-970,000 barrel per day.
Director General of Oil and Gas at the ministry, Evita Herawati Legowo, said that the 2010 ICP was realized at US$78.07 per barrel. This year the government has assumed the crude price at US$80 per barrel, yet until 22 May 2011 it was already realized at US$107.3 per barrel.
"Lifting 2012 is proposed for 950,000-970,000 barrel per day," she added during a hearing with House Commission VII today.
Evita also exlained the 2010 lifting was realized at 954,000 barrel per day while until May 22, the lifting was realized at 897,000 barrel per day of this year's target at 970,000 barrel per day.
For fuel and biofuel volumes, both were reliazed at 38.38 million kiloliter (kl) in 2010. For this year, the target is increased to 38.59 million kl, and the realization until May 22 was already at 15.46 million kl. (NOM)
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Source: http://www.bisnis.com/economy/25458-indonesias-2012-crude-price-assumed-at-us75-us95
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