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Illegal tapping is a practice still rampant, with methods used to steal oil becoming more and more sophisticated.
Energy Ministry's Directorate General of Oil and Gas has decided to cut back on Pertamina's crude oil import quota for 8,000 barrels per day.
SKK Migas is eyeing to increase national oil production up to one million barrels daily by the year 2031.
The average Indonesian Crude Oil Price in November 2019 increased US$3.44 to US$63.26
Pertamina petrochemical plant will have a processing capacity of up to 350,000 barrels per day of crude oil.
State-owned gas and oil company Pertamina planned to import crude oil from the United States in 2020.
OPEC released its 2019 World Oil Outlook, in which the producer group said it would supply a diminishing amount of oil in the next five years.
SKK Migas reported 63 cases from 2012 to 202 of oil theft at Rokan Block managed by Chevron Pacific Indonesia (CPI)
The Corruption Eradication Commission (KPK) today will announce the names of suspects in the oil and gas mafia case.
Pertamina import value reached 339,000 barrel per day (MBPD) last year.
The Ministry of Trade suspects the European Union (EU) of commencing a massive and structured strategy against Indonesian palm oil.
Iran's capture of a British oil tanker last week sparked worries about supply disruptions in the Strait of Hormuz.
Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil production.
Iran has no plans to leave the Organization of the Petroleum Exporting Countries (OPEC), Oil Minister Bijan Zanganeh says.
Saudi Arabia's defense minister on Thursday accused Iran of ordering an attack on Saudi oil installations.
Saudi Arabia said armed drones had struck two oil pumping stations in the kingdom on Tuesday.
Oil prices hit their highest since November after Washington announced all waivers on imports of sanctions-hit Iranian oil would end next week.
The Indonesian government is ready to take firm action against European products if the European Union continued its plan to ban palm oil as a biofuel.
To the Segumon customary community, growing plants among oil palm trees has been the norm in the past decade.
Pertamina predicts Indonesia will run out of oil reserves by the year 2030 based on the country's current consumption.