Minister issues decree on Indonesia Crude Price formula
Wednesday, August 3 2016 - 01:03 AM WIB
The Minister of Energy and Mineral Resources has issued Ministerial Decree No 6171 K/12/MEM/2016 on the formula to calculate the Indonesia Crude Price for the period of July 2016 until June 2017.
According to a copy of the decree obtained by petromindo.com on Wednesday, the primary crude price is calculated based on published Dated Brent + Alpha. Alpha is determined based on crude quality, international oil price development, and national energy security.
Formula of Indonesia Crude Price for the period of July 2016-June 2017
| Type of Indonesia Crude Oil | Formula |
| A. Indonesia Primary Crude Oil (Benchmark Crude) | |
| 01. SLC | Dated Brent + Alpha SLC |
| 02. Arjuna | Dated Brent + Alpha Arjuna |
| 03. Attaka | Dated Brent + Alpha Attaka |
| 04. Cinta | Dated Brent + Alpha Cinta |
| 05. Duri | Dated Brent + Alpha Duri |
| 06. Widuri | Dated Brent + Alpha Widuri |
| 07. Belida | Dated Brent + Alpha Belida |
| 08. Senipah Condensate | Dated Brent + Alpha Senipah Condensate |
| B. Other Indonesia Crude Oil | |
| 09. Anoa | ATTAKA + US$ 0.40/Bbl |
| 10. Arun Condensate | Senipah Condensate |
| 11. Badak | ATTAKA |
| 12. Bekapai | ATTAKA |
| 13. Belanak | Arjuna - US$ 4.96/Bbl |
| 14. Bentayan | SLC - US$ 1.96/Bbl |
| 15. Bontang Return Condensate (BRC) | MOPS NAPHTHA - US$ 2.00/bbl |
| 16. Bula | DURI - US$ 0.50/Bbl |
| 17. Bunyu | SLC |
| 18. Camar | ARJUNA + US$ 0.38/Bbl |
| 19. Cepu | ARJUNA - US$ 4.64/Bbl |
| 20. Geragai/Makmur | SLC + US$ 0.19/Bbl |
| 21. Geragai Condensate/Makmur Condensate | BRC - US$ 0.26/Bbl |
| 22. Handil Mix | ARJUNA + US$ 0.15/bbl |
| 23. Jambi | SLC + US$ 0.19/Bbl |
| 24. Jatibarang | SLC |
| 25. Jene/Pendopo | SLC |
| 26. Kaji/Matra | SLC + US$ 0.40/Bbl |
| 27. Kerapu | BELIDA - US$ 0.34/Bbl |
| 28. Klamono | DURI - US$ 0.50/Bbl |
| 29. Komplek Palembang Selatan (KPS)/Air Serdang/Guruh | ARJUNA - US$ 1.74/Bbl |
| 30. Lalang | SLC + US$ 0.05/Bbl |
| 31. Langsa | ATTAKA - US$ 0.40/Bbl |
| 32. Lirik | SLC - US$ 0.11/Bbl |
| 33. Madura/Poleng | ARJUNA + US$ 0.13/Bbl |
| 34. Mengoepeh | SLC + US$ 0.19/Bbl |
| 35. Meslu | ATTAKA - US$ 3.17/Bbl |
| 36. Mudi Mix* | ARJUNA - US$ 0.30/Bbl |
| 37. NSC/Katapa/Arbei | ATTAKA - US$ 0.11/Bbl |
| 38. Pagerungan Condensate | SENIPAH CONDENSATE - US$ 0.75/Bbl |
| 39. Pamjuata/Sanga2 Mix / Mamburungan | SLC + US$ 0.10/Bbl |
| 40. Pangkah | ARJUNA - US$ 1.30/Bbl |
| 41. Ramba/Tempino | SLC + US$ 0.19/Bbl |
| 42. Rimau/Tabuhan | SLC - US$ 0.10/Bbl |
| 43. Sangatta | SLC |
| 44. Selat Panjang | SLC |
| 45. Sepinggan Yakin Mix | ARJUNA |
| 46. South Jambi Condensate | SENIPAH CONDENSATE - US$ 1.94/Bbl |
| 47. Tanjung | SLC + US$ 0.19/BbI |
| 48. Talang Akar Pendopo (Tap)/Air Hitam | ARJUNA - US$ 1.53/Bbl |
| 49. Tiaka | DURI - US$ 3.00/Bbl |
| 50. Udang | SLC + US$ 0.08/Bbl |
| 51. Walio Mix** | ARJUNA - US$ 2.05/Bbl |
| 52. West Seno | ATTAKA - US$ 0.65/Bbl |
| *Mixture of Mudi and Sukowati crudes, ** Mixture of Walio, Matoa, Wakamuk, Linda and Mogoi crudes | |
Editing by Reiner Simanjuntak