(EnergyAsia, May 15, Thursday) — Indonesia’s government plans to draw down its oil stockpile by 50%, selling some 14 million barrels to pay for its growing oil subsidy burdens amid soaring oil prices. The sale will be made throughout the year and bring in US$665 million if the crude price stays at around $120 a…
INDONESIA: Budget pressures may force the sale of 14 million barrels of oil from state stockpile
Posted on May 14, 2008 by EnergyAsia