Business | Oil & Gas
Indonesia production hits 35-year slump
Indonesia's crude oil output fell to 887,000 barrels per day (bpd) in July a 35-year low and down from 900,000 bpd in June, hit by production problems in several oil fields and maintenance, an industry source said.
- Reuters
- Published: 00:00 August 2, 2006
- July 887,000
- June 900,000
- May 918,000
- April 920,000
- March 929,100
- February 918,500
- January 916,000
Jakarta: Indonesia's crude oil output fell to 887,000 barrels per day (bpd) in July a 35-year low and down from 900,000 bpd in June, hit by production problems in several oil fields and maintenance, an industry source said.
"Indonesia could not avoid another fall in output in July because of some problems in several oil reservoirs and some also needed maintenance," the source said.
Indonesia's condensate output was slightly higher at 131,000 bpd in July, compared with 130,000 bpd in June.
Indonesia was a net importer of crude oil in June and May this year after production from Asia-Pacific's only Opec member continued to fall, an energy ministry official had said.
The industry source said Indonesian oil production is expected to increase in August, when problems at the production facilities in several oil fields are resolved.
Indonesia has struggled to maintain production as the country has failed to tap new oilfields fast enough.
Indonesia imports crude for its refineries but normally exports slightly more, effectively trading its domestic production for crude more suitable to its plants.
The country has nine refineries with a combined capacity of around 1 million barrels per day, but they supply only about 70 percent of domestic oil products consumption. The rest is imported.
Overview: Crude output (in barrels per day)
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