Govt to propose 900,000 bopd lifting target

By Godang Sitompul

The government will propose oil and condensate lifting target of 900,000 barrels per day at the revised 2012 State Budget, lower than the 930,000 bopd target set at the Budget, according to Deputy Minister of Energy and Mineral Resources Rudi Rubiandini.

The revision to the State Budget is a routine the government discusses with the House of Representatives whenever the fiscal year enters the second semester when in a number of targets ? including revenue, expenditures, oil production and target ? need adjustment.

?Lifting target will be 900,000 bopd, while oil prices will be $100 a barrel,? Rudi told petromindo.com.

The country?s oil and condensate output averaged 881,000 bpd as of May 28 this year, compared with last year?s realized output of 908,000.

Rudi added that in addition to the oil lifting target and price, the discussion with the lawmakers will also center on subsidies.

Editing by Dadan Wijaksana