Priyono:
Oil exploration-exploitation does not attract national businesses
Having failed to achieve its target, the government finally revised its oil lifting (ready to sell production) target to 945,000 barrels per day, from the previous target of 970,000 barrels. This policy change followed the May oil production, which only yielded 889,000 barrels.
July 13, 2011
CLEARLY, the government does not want a repeat performance of the 2009 fiasco, when its production fell short by 16,000 barrels per day. For every 10,000 barrels per day of shortfall, this means a drastic decline in both tax and non-tax revenues, which can cause a Rp3 trillion deficit.
Current oil production in Indonesia is seen to be sluggish. According to Priyono, chairman of the oil and gas regulator BP Migas, oil production has been declini
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