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View all search resultsThe Energy and Mineral Resources Ministry expects the oil and gas industry to raise $127.3 billion in investments this year, which is lower than last year’s target of $159.8 billion and of which only 72 percent was realized.
Securing more investments meant that the government needed to improve regulatory certainty over the domestic oil and gas industry, said industry player Tumbur Parlindungan, former chairman of the Indonesian Petroleum Association.
After a turbulent eight weeks, during which crude oil lost nearly 30 percent of its value, a last minute deal between countries of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries to cut production is expected to lend some stability to the market.
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