JAKARTA (Bloomberg): Indonesia produced 955,000 barrels per day of crude oil and condensate last year, missing its target, Minister of Finance Sri Mulyani Indrawati said today.
The country set a target of 1.075 million barrels of crude oil and condensate in the 2005 state budget, she told a parliamentary hearing. She didn't give any reason why production failed to meet target.
Indonesia, the second-smallest producer in the Organization of Petroleum Exporting Countries, has failed since early 2002 to meet its OPEC output target, currently at 1.451 million barrels a day.
February 06, 2006