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Indonesian Crude Price. Indonesian Crude Price, or ICP, is a price index for crude oil from Indonesia . The ICP is determined by Dirjen Migas, based on moving average spot price of a basket of eight internationally traded Indonesia crudes: In some cases ICP is used as index in long term LNG contracts in East Asia. [citation needed]
Energy in Indonesia. In 2019, the total energy production in Indonesia is 450.79 million tonnes of oil equivalent, with a total primary energy supply of 231.14 million tonnes of oil equivalent and electricity final consumption of 263.32 terawatt-hours. [2] From 2000 to 2021, Indonesia's total energy supply increased by nearly 60%. [3]: 15.
Oil and gas contractors are required to finance all exploration, production, and development costs in their contract areas and are entitled to recover operating, exploration, and development costs out of the oil and gas produced. Indonesia had previously subsidized fuel prices to keep prices low, costing US$7 billion in 2004. [83]
The global oil crisis of the 1970s greatly increased oil prices and thus Pertamina's profits. The company initially provided a fiscal lift to the hopes of Indonesia's development planners. For President Suharto and other members of the ruling elite, revenue from Pertamina was "an ongoing source of funding" without accountability. "They ran this ...
The three most quoted oil products are North America 's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price ...
The remains of a peat forest in Indragiri Hulu, Riau Province, Indonesia to make way for oil palm plantation.. Production of palm oil in Indonesia has, since 1964, recorded a phenomenal increase from 157,000 metric tons (155,000 long tons; 173,000 short tons) to 41.5 million metric tons (40,800,000 long tons; 45,700,000 short tons) in 2018 [7] and a total of 51 million metric tons (50,000,000 ...
The East Natuna gas field is located in the Greater Sarawak Basin (East Natuna Basin) about 1,100 kilometres (680 mi) north of Jakarta and 225 kilometres (140 mi) northeast of the Natuna Islands covering approximately 310 square kilometres (120 sq mi). The reservoir is at a water depth of 145 metres (476 ft) within the Miocene Terumbu Formation ...
China National Petroleum Corporation (PetroChina) Jinzhou Petrochemical Refinery, 112,000 bbl/day. WEPEC Dalain Refinery, 200,000 bbl/day. Sinopec Jinan Company, 21,000 bbl/day. Sinopec Qilu Company Refinery, 195,000 bbl/day. Sinopec Shanghai Gaoqiao Oil Refinery, 220,000 bbl/day.