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Indonesia culls upstream spending

INDONESIA's oil and gas regulator SKK Migas announced it would drop its investment target and planned expenditure in upstream by 15% this year due to the impact of COVID-19 on demand and low commodity prices.

paul hunt
Indonesia culls upstream spending

On Thursday afternoon SKK Migas said it had revised its investment spending target from US$13.8 billion to US$11.8 billion.   It noted that liftings for January to May were 701,000 barrels of oil per...

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