Indonesia Reaffirms Crude-Price Formula for January-June Period

Indonesia, Southeast Asia’s biggest crude producer, reaffrimed its formula for pricing oil exports for the six-month period ending in June.

Prices will average the assessments from RIM Intelligence Co. and Platts, according to a decree signed by Energy and Mineral Resources Minister Jero Wacik on Dec.28 and posted on the ministry’s website.

Indonesia has been using the pricing formula for its oil since July 2007. The government reviews the oil price formula every six months.

To contact the reporter on this story: Fitri Wulandari in Jakarta at fwulandari@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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