Director General of Oil and Gas of the Ministry of Mineral Resources (ESDM), Evita Legowo, said here on Monday that the Indonesian crude price (IPC) was now above the state budget assumption at US$80 per barrel.Jakarta (ANTARA News) - The government is awaiting until April the developments of crude price increase which has now reached US$90-US$100 per barrel before taking a decision to revise its crude price assumption, a senior official said.
Director General of Oil and Gas of the Ministry of Mineral Resources (ESDM), Evita Legowo, said here on Monday that the Indonesian crude price (IPC) was now above the state budget assumption at US$80 per barrel.
She said that in January 2011, the average price of ICP was recorded at US$97.09 per barrel, or in increase of 5.72 dollars compared with that in December 2010 which was US$91.37 per barrel.
"But we will look at its trend until April, whether it will remain high or even will go down," she said.
The director general said that if the average price of ICP in the January - April 2011 period would be above the state budget assumption at US$80 dollar per barrel, then the government might consider revising the price assumption.
It is likely however that the present high price is temporary because of bad weather and the Egyptian political crisis.
Based on the director general report, there are eight of the 50 types of crude categories which are made a reference for the ICP price.
They are the sweet light crude (SLC) whose price in January 2011 was 99.82 dollars per barrel, Arjuna 96.82 dollars per barrel, Attaka 98.87 dollars per barrel, Cinta 94.15 dollars, Duri 90.48 dollars, Widuri 94.23 dollars, Belida 98.29 dollars and Senipah 97.4 dollars.
In the meantime, the average prices of main crude in the world market in January 2011 was 89.58 dollars per barrel for WTI (Nymex), 96.91 dollars for Brent (ICE), 100.35 dollars for Tapis (Platts) and 92.69 dollars for OPEC basekt.(*)
Editor: Heru Purwanto
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