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We Should Brace Ourselves for High Oil Prices

Monday, May 16, 2022

Upstream Oil and Gas Special Regulatory Task Force Chairman Dwi Soetjipto says that the war in Ukraine has sent fuel prices to soar as Indonesia still depends on oil imports. However, on the upstream side, the crisis spurs more investments for exploration.

arsip tempo : 173510881594.

Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) Chairman Dwi Soetjipto at his office in Jakarta, May 9. TEMPO/Tony Hartawan . tempo : 173510881594.

UPSTREAM Oil and Gas Special Regulatory Task Force (SKK Migas) Chairman Dwi Soetjipto said the ongoing Russia-Ukraine war had impacted fuel prices in the country as Indonesia remained a net oil importer. However, the war has also goaded the government to carry out more exploration in the sector. “We have surplus gas and our domestic gas reserves are quite large. This adds value to our export,” he said during an interview with Tempo re

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