Govt, Commission VII agree on 2014 ICP, lifting targets
Thursday, September 5 2013 - 04:29 AM WIB
The government and the House of Representatives Commission VII on energy reached an agreement on Indonesia Crude Price (ICP), oil and gas lifting, and other targets for next year during a hearing session to deliberate the economic assumptions in the 2014 state budget.
The Ministry of Energy and Mineral Resources said in a statement obtained Thursday that ICP for 2014 is set at a range of US$100-115 per barrel.
Meanwhile, crude oil lifting target for next year is set at 870,000 bpd, natural gas lifting 1.24 million boepd , making a combined oil and gas lifting target of 2.11 million boepd.
Other agreed 2014 targets include fuel volume of 48-51 million kilo liters, which comprises of 32.96 million KL premium gasoline (including 05 percent bioethanol), 1.1 million KL kerosene, and 16.44 million KL automotive diesel (including 10 percent biodiesel).
The proposed assumptions will be finalized at a House plenary session later on
Editing by Reiner Simanjuntak