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Indonesia mulls changes to crude price basket; Banyu Urip ICP eyed

Reuters  |  JAKARTA/SINGAPORE 

JAKARTA/SINGAPORE (Reuters) - Indonesia is evaluating its existing crude oil benchmarks, and has identified the Banyu Urip grade as possibly one that could replace Arjuna ICP, a senior government official said."Relating to Banyu Urip crude to be the benchmark crude to replace Arjuna, at this time it's still being evaluated by the technical team," Ego Syahrial, Director General of Oil and Gas at the energy ministry, said.The earliest decision could come in December, but not later than next June, Syahrial added.In the meantime, Indonesia will keep its existing Indonesia Crude Price (ICP) ...

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First Published: Thu, August 10 2017. 17:26 IST
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