Govt proposes ICP assumption of $75-90 per barrel in 2012
Tuesday, May 31 2011 - 12:52 AM WIB
The Ministry of Energy and Mineral Resources proposed an oil price assumption (Indonesia crude price./ICP) of US$75-90 per barrel in the 2012 state budget, said Director General of Oil and Gas Evita Legowo on Monday on the sidelines of a meeting with the House of Representatives Commission VII on energy.
Evita said that oil lifting assumption is set at 950,000-970,0000 barrel per day. She said that oil price is expected to remain high next year, and would largely depend on geopolitical condition in North Africa and Middle East. (*)