Indonesia's Masela oil and gas block (Courtesy of/maritim.go.id)
Jakarta (VNA) - Indonesia’s oil and gas regulator SKK Migas on April 17 lowered its full-year production outlook for the country due to the COVID-19 outbreak.
SKK Migas cut this year’s production outlook for both crude oil and gas to 725,000 barrels per day and 5,727 million cubic feet per day respectively.
Chairman of SKK Migas Dwi Soetjipto said global declining crude oil prices and currency fluctuations have impacted the oil and gas industry.
He revealed that the 2020 gross revenue outlook from the oil and gas sector had been cut by nearly half, from 32 billion USD to 19 billion USD now.
As of April 17, Indonesia has confirmed 5,516 COVID-19 cases, including 496 deaths, according to the local health ministry./.
VNA
