{
    "success": true,
    "data": {
        "id": 1388714,
        "msgid": "pertamina-changes-icp-formula-1447893297",
        "date": "1998-03-12 00:00:00",
        "title": "Pertamina changes ICP formula",
        "author": null,
        "source": "REUTERS",
        "tags": null,
        "topic": null,
        "summary": "Pertamina changes ICP formula SINGAPORE (Reuters): Indonesian state oil company Pertamina will change the formula for its official term Indonesian Crude Price (ICP) starting in April, traders said yesterday. They said the new formula for its crude sales will use a third of the Asian Petroleum Price Index (APPI), a third of the daily Platt's quotes, and a third of RIM Intelligence Co. Currently, the APPI portion makes up half the formula, while Platt's and RIM quotations each make up a quarter.",
        "content": "<p>Pertamina changes ICP formula<\/p>\n<p>SINGAPORE (Reuters): Indonesian state oil company Pertamina<br>\nwill change the formula for its official term Indonesian Crude<br>\nPrice (ICP) starting in April, traders said yesterday.<\/p>\n<p>They said the new formula for its crude sales will use a third<br>\nof the Asian Petroleum Price Index (APPI), a third of the daily<br>\nPlatt's quotes, and a third of RIM Intelligence Co.<\/p>\n<p>Currently, the APPI portion makes up half the formula, while<br>\nPlatt's and RIM quotations each make up a quarter.<\/p>\n<p>This is the third time that Pertamina has adjusted its crude<br>\nprice formula in the last four years.<\/p>\n<p>With each change, Pertamina reduced the APPI portion by a<br>\ncertain percentage.<\/p>\n<p>Pertamina reviews its crude pricing formula every six months,<br>\nfollowing a buyers' forum.<\/p>\n<p>The state oil company had proposed the changes to buyers in<br>\nOctober, but decided to postpone the implementation as it was<br>\nstill studying the new formula.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/pertamina-changes-icp-formula-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}