Govt extends current ICP formula
Friday, July 9 2010 - 04:55 AM WIB
Director General of Oil and Gas Evita legowo said on Friday that the government has decided to extend the use of current Indonesia Crude Price (ICP) formula until the end of 2010.
The current ICP formula uses the accounting based on price references provided by Singapore's Platts and Japan's RIM Intelligence Co.
The ICP formula is 50 percent based on Platts and 50 percent based on RIM.(godang)