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Indonesia’s Petramina to Increase its Crude Oil Output in 2018

Oil

Indonesian state-owned oil corporation Petramina is set to boost its crude oil production to 400K b/d in 2018, up 17% or 58K b/d y-o-y, according to reports by Reuters.

Indonesia will remain a non-member of OPEC according to statements made today by its deputy energy minister and is therefore not bound by its current production curbs. Indonesia’s total crude oil production currently stands at about 800K b/d.