Tok House of Representatives Agrees to Fuel Subsidies of Rp. 500 / Liter Next Year

Jakarta

House of Representatives Commission VII member and Minister of Energy and Mineral Resources Arifin Tasrif agreed with macro energy assumptions in the Draft State Budget 2021. The assumptions consisted of the Indonesian Crude Price, oil and gas lifting, subsidized fuel and LPG volumes, diesel subsidies, and electricity subsidies.

Chairman of the House of Representatives Commission VII Sugeng Suparwoto who chaired the meeting stated that the macro assumptions that had been discussed by the House of Representatives and the government since last Friday had been agreed to be determined.

“Commission VII agrees to the macro energy assumptions in the 2021 Draft State Budget, according to the following table. Can the basic assumptions be agreed? Approved,” Sugeng said in the House of Representatives Commission VII meeting room, Monday (6/29/2020).

The assumptions applied include the ICP price set at US $ 42-45 per barrel. Then in total oil and gas lifting is targeted to reach 1.68-1.72 million BOEPD per day, specifically for the oil lifting target of 690-710 BOPD per day and gas lifting of 990-1.01 million BOEPD.

Then, the volume of subsidized fuel is 15.79-18.30 million KL. The details, for the volume of kerosene subsidies of 480-500 thousand KL and diesel oil subsidies of 15.3-15.80 million KL. While the volume of 3 kg LPG subsidies is set at 7.5-7.8 million metric tons.

Then the electricity subsidy is set at Rp 50.47-54.55 trillion. Finally for diesel fuel subsidies set at Rp 500 per liter.

This assumption number is still not final, the outcome of the agreement between the Ministry of Energy and Mineral Resources and Commission VII will be discussed in the Indonesian Parliamentary Budget Agency, and then approved by the president.

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