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Today's Headlines Exxon Mobil

  • Oil Production Indonesia Exceeds Target in First Quarter 2016

    Oil Production Indonesia Exceeds Target in First Quarter 2016

    Indonesia's crude oil output was strong in the first quarter of 2016 on the back of higher-than-expected oil production of several oil companies in Indonesia. According to Indonesia's oil & gas regulator SKK Migas the nation's oil production totaled 833,000 barrels per day (bpd) in the January-March 2016 period, exceeding the oil lifting target that was set in the 2016 State Budget (830,000 bpd). It also means that the globe's low oil prices at the year-start, touching 12-year lows at around USD $27 per barrel, did not make local oil companies cut back on production rates.

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  • Banyu Urip Field Output Boosts Indonesia's Oil Production From 2014

    Oil production indonesia 2013 Banyu Urip Field - Indonesia Investments - RMA van der Schaar

    Oil production in Indonesia is targeted to be lifted to 1 million barrels per day (bpd) by October or November 2014 according to SKK Migas, the government unit that manages upstream activities in Indonesia's oil and gas sector. Crude oil production in the first quarter of 2013 was 830,900 bpd, eight percent lower than the target in the country's state budget. Indonesia's oil output has fallen steadily in the last decade due to a lack of exploration and other investments in the sector that was once the engine of Indonesia's economic growth.

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