Kamis, 09 Mei 2013

"Assuming the ICP turned, the increase was not significant subsidies"

Nanang Vitello

Sindonews.com -Executive Director Institute for Essential Services Reform (IESR), Fabby Tumiwa argues, if the crude oil price assumption of Indonesia (ICP) changed, would make an impact on the magnitude of subsidies on electricity. However, if the only ICP are changing and are not followed by other factors, then the change is not too significant subsidies.

Because, besides the assumption, there are several other factors that also affect electricity subsidies, among others the target production of electric power and the growth of sales of electricity.

"However, if production and sales growth targets for electricity was also changed, then the impact is significant," he said in Jakarta on Sunday (5/5/2013).

On the other hand, although electricity tariffs (TTL) rose an average of 4.3 percent per three months, still unable to cover the increased needs of electricity subsidies. The reason, according to Faby, increased electricity rates are still lower than the cost of fuel for electricity.

Previously Deputy Minister of MINERAL RESOURCES, Susilo Siswoutomo said that ICP changes done since seeing the realization it's been above assumptions and crude oil price trends and improving world economic growth.

The head of the unit of Work Implementing Specific business activities Upstream Oil and Gas (oil & gas SKK), Rudi Rubiandini estimates, assuming this year about ICP USD105 per barrel.

Assuming the change is accompanied by a change of oil lifting ICP 830 thousand and-850 thousand barrels per day (BPD), the oil and gas sector of the country's revenue this year is estimated at USD27,9-USD29,5 billion from the initial target of USD31 billion.

According to the Ministry of MINERAL RESOURCES, on average during the quarter I/ICP 2013 reached USD111,11 per barrel, ICP in March amounted to USD107,42 per barrel, February amounted to USD114,86 per barrel and January amounted to USD111,07 per barrel.


Finance; Investment; Business; Economics

Finance; Investment; Business; Economics

Title Post: "Assuming the ICP turned, the increase was not significant subsidies"
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Author: Mohammad Zulfi Satriawan

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