Indonesian Political, Business & Finance News

Archive: 9 September 2011

2 articles found

Indonesia to raise oil production by 1 million bpd in 2013

JAKARTA, Sept. 6 (Xinhua) -- Indonesian President Susilo Bambang Yudhoyono on Tuesday asked (industries) to increase the country's oil production by one million barrels per day in 2013 from this year's output target of 950,000 barrels per day, in an effort to anticipate the volatile soaring-global oil prices, according to a minister. The statement came as Indonesia, a net-oil importer country, provides huge oil subsidy that burdens the state budget.

Indonesia expects 100 bln USD investment by 2014

JAKARTA, (Xinhua) - Indonesian Coordinating Minister for Economy Hatta Rajasa said on Wednesday that he expects about 100 billion U.S. dollar foreign direct investment (FDI) by 2014 despite the uncertainty of the global economic condition. The minister said that the huge investment would be directed to the government's long-term development master plant (from 2011 to 2014), such as in a massive infrastructure projects.