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Oil report

UPDATE 1-Indonesia Sept oil lifting beats target, H1 fuel consumption falls

(Adds fuel consumption)

JAKARTA, Nov 5 (Reuters) - Indonesia’s oil lifting, or its ready-to-sell oil production, stood at 706,000 barrels per day (bpd) in September, slightly above its 705,000 bpd target, the head of state oil and gas regulator SKK Migas said on Thursday.

The country’s gas lifting however was 5,502 million standard cubic feet per day (mmscfd), below a target of 5,556 mmscfd, SKK Migas head, Dwi Soetjipto told a virtual press conference.

SKK Migas’ target for oil and gas lifting for next year is 705,000 bpd and 5,638 mmscfd, respectively.

Ego Syahrial, acting director general of oil and gas at the energy ministry, told the news conference that Indonesia’s fuel consumption in the first half of 2020 fell 13% from a year earlier due to social restrictions imposed to limit the spread of the coronavirus pandemic.

The official did not give a figure for the period but put fuel consumption at 41.6 million kilolitres in the first eight months of 2020 against consumption of 75.12 million kilolitres last year. (Reporting by Bernadette Christina Munthe; Writing by Fathin Ungku Editing by Ed Davies)

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