Wednesday, 08 October, 2008 | 14:08 WIB<\/p>\n
TEMPO Interactive, Jakarta: The global finance crisis will affect oil and gas exploration in Indonesia in 2009.<\/p>\n
\u201cThe crisis will make oil companies increase their loan for exploration,\u201d said deputy of Oil & Gas Upstream Executing Body (BP Migas) Abdul Muin yesterday (7\/10).<\/p>\n
He explained that oil demand will decrease while many companies were involved in exploration.<\/p>\n
\u201cThe oil market is uncertain,\u201d said Muin.<\/p>\n
The crisis has also affected the world oil price of light sweet crude.<\/p>\n
This reached US$87.81 per barrel in trading last night at the New York Mercantile Exchange.<\/p>\n
Muin said the situation would trigger oil companies to re-study the value of their projects apart from companies with larger funds.<\/p>\n
\u201cFor a while, this will only affect oil companies with limited budgets,\u201d he said.<\/p>\n
It is possible oil companies with limited budgets will stop or delay their projected exploration.<\/p>\n
\u201cThey can sell their assets or consolidate or allow let themselves to be acquired by larger companies,\u201d said Muin.<\/p>\n
He confirmed that the state oil company, Pertamina, could still afford to fund its projects.<\/p>\n
\u201cIt only decrease upstream activities,\u201d said Muin.<\/p>\n
SORTA TOBING<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/global-crisis-to-affect-oil-exploration-in-2009-1223451760", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }