PT Pertamina is spending billions of dollars to boost production and refining capacity and Indonesia’s crude output is expected to top one million barrels a day by 2019, from about 800,000 barrels now. — Reuters
JAKARTA: Once a cornerstone of the economy, Indonesia’s oil and gas sector is in a slump, even as the country’s appetite for energy soars.
Hit by a drop in global prices, changing regulations and competition from neighbours that are proving more attractive to international energy companies, South-East Asia’s biggest economy is facing a decline in oil revenue and steadily rising fuel imports.
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