| ICP 2011 is estimated to U.S. $ 80-100/Barel |
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| Wednesday, 16 March 2011 10:22 | |||||||
Page 1 of 2 JAKARTA. The government estimates the average price of Indonesian crude (ICP) in 2011 ranged between U.S. $ 80-100 per barrel.
Indonesian oil price estimates, according to Darwin Zahedy Minister Saleh in a meeting with the House Budget Agency, on Tuesday (15 / 3) evening, based on the consideration of reference Brent Crude which according to a survey by Reuters February 17, 2011 amounted to U.S. $ 84.5 to 100 per barrel and the Centre for Global Energy Studies February 21, 2011 at U.S. $ 90-110 per barrel. In addition, WTI Crude reference which, according to Reuters survey dated February 17, 2011 amounted to U.S. $ 81.38 to 105 per barrel and U.S. DOE-EIA dated March 8, 2011 of U.S. $ 101.97 per barrel. He added that ICP prices are influenced by world oil prices. The fundamental aspect, the amount of supply to meet the need. But there are non-fundamental aspects such as market sentiment due to fears of disruption to oil supplies from the Middle East due to the turmoil since early 2011 that begins from Tunisia, Egypt and Libya as well as the tsunami disaster in Japan, has affected world oil prices. Indonesia's crude oil price in March, while it reached U.S. $ 113.03 per barrel and an average of 2 April 2010-March 2011 reached U.S. $ 86.35 per barrel. Meanwhile, world oil prices on March 14, 2011, an average above U.S. $ 100 per barrel. For example, WTI (Nymex) U.S. $ 101.19 per barrel, Brent (ICE London) of U.S. $ 113.67 per barrel, Dubai (Platts) U.S. $ 106.35 per barrel and Minas / SLC (Platts Singapore) reached U.S. $ 111.77 per barrel. Regarding the oil production in 2011, Darwin explains, the average current oil production amounted to 906.7 thousand barrels per day and average oil lifting from December 2010 up to March 9, 2011 reached 896.9 thousand barrels per day. Target Budget 2011, oil production amounted to 970 thousand barrels per day. While natural gas production, currently at 8624 MMSCFD or higher than the budget target 2011 at 7769 MMSCFD. Average gas lifting from December 2011 to March 9, 2011, reached 7630 MMSCFD. "Although the production of oil was the downward trend, but natural gas production increased, so that production of oil and natural gas in total to increase," he added. (Energy and mineral resources)
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