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Indonesia revises down 2020 oil, gas production outlook

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.
Indonesia revises down 2020 oil, gas production outlook ảnh 1Indonesia'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-yearproduction outlook for the country due to the COVID-19 outbreak.

SKK Migas cut this year’sproduction outlook for both crude oil and gas to 725,000 barrels per day and5,727 million cubic feet per day respectively.

Chairman of SKK Migas DwiSoetjipto said global declining crude oil prices and currencyfluctuations have impacted the oil and gas industry.

Herevealed that the 2020 grossrevenue outlook from the oil and gas sector had been cut by nearly half, from 32billion USD to 19 billion USD now.

As of April 17, Indonesia has confirmed5,516 COVID-19 cases, including 496 deaths, according to the local healthministry./.

VNA
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