Jakarta (Antara Bali) - The House of Representatives (DPR) has approved the government's proposal to cut the target of oil lifting (oil sold) from 950,000 to 930,000 barrels a day.
At a meeting with Energy and Mineral Resources Minister Jero Wacik here on Tuesday night, the DPR also approved the Indonesia crude price (ICP) at US$105 a dollar.
The House also approved biodiesel subsidy at Rp3,000 a liter, liquefied gas for vehicle (LGV) subsidy at Rp1,500 a liter and alpha fuel subsidy at Rp641.94 a liter.
During the meeting the parliament also endorsed the volume of subsidized liquefied petroleum gas (LPG) in 3-kg cylinders at 3.61 million tons, and the volume of subsidized fuels at 40 million kiloliters comprising 24.41 million kiloliters of premium gasoline, 1.7 million kiloliters of kerosene, and 13.89 million kiloliters of diesel oil.
Earlier, the Indonesian Democratic Party-Struggle (PDIP) and the Great Indonesia Movement (Gerindra) Party factions in the DPR respectively proposed the target of oil lifting for 2012 at 901,000 and 907,000 barrels a day.(IGT)
