Indonesia's oil production exceeds OPEC quota in Q1
Tuesday, May 21 2002 - 04:48 AM WIB
Indonesia?s oil production in the first quarter of 2002 exceeded the 1.125 million barrels per day (bpd) quota decided by Organization of Petroleum Exporting Countries (OPEC), Pertamina said on Tuesday.
Oil production in the first quarter, ending in April, averaged 1.170 million bpd, said L. Harijanto, Pertamina?s manager of public and government relations.
Harijanto said however the excessive oil production did not violate OPEC rules because the extra volumes had not been sold immediately.
?A portion of the oil volume was kept in bunkers,? Harijanto told reporters.
Harijanto said the Indonesian-owned Exspan Nusantara was the company with the highest production increase in the first quarter. It operates oil fields in Central and South Sumatra, East Kalimantan, and East Java.(Arri)