ID :
22677
Sun, 10/05/2008 - 15:36
Auther :
Shortlink :
http://m.oananews.org//node/22677
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U.S. FINANCIAL CRISIS NOT TO AFFECT RI'S ENERGY EXPORTS
Jakarta, Oct 5 (ANTARA) - Energy and Mineral Resources Minister Purnomo Yusgiantoro said that the U.S. financial crisis would not disturb Indonesia's exports of products from the energy and mining sector.
"We think that our exports would not be disturbed because our exports, particularly oil, gas, liquefied national gas and mining products, are always needed by importer countries," the minister said here on Sunday.
He said that what needed to be given attention to was the developments of the exchange rate of the rupiah. "The crisis will have effect on the exchange rate and on revenues earned from the mining and energy sector," he added.
In the meantime, investment on the energy and mining sector remained safe now because investment is made in the long-term form.
"The investment is made in the form of foreign direct investment (FDI). We don't use money from the capital market and the stocks exchange. So, we hope that the turbulence in the United State would not disturb us," he said.
The minister said that the oil price assumption made in the state budget at US$100 a barrel was still safe even though oil prices were now in the down-ward trend.
"The Indonesian Crude Oil Price (ICP) is now US$110 per barrel. An average level below US$100 per barrel will only be possible if the prices of Indonesian crude continues to stay below the US$70 level in the October 1-December 31 period," he said.
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"We think that our exports would not be disturbed because our exports, particularly oil, gas, liquefied national gas and mining products, are always needed by importer countries," the minister said here on Sunday.
He said that what needed to be given attention to was the developments of the exchange rate of the rupiah. "The crisis will have effect on the exchange rate and on revenues earned from the mining and energy sector," he added.
In the meantime, investment on the energy and mining sector remained safe now because investment is made in the long-term form.
"The investment is made in the form of foreign direct investment (FDI). We don't use money from the capital market and the stocks exchange. So, we hope that the turbulence in the United State would not disturb us," he said.
The minister said that the oil price assumption made in the state budget at US$100 a barrel was still safe even though oil prices were now in the down-ward trend.
"The Indonesian Crude Oil Price (ICP) is now US$110 per barrel. An average level below US$100 per barrel will only be possible if the prices of Indonesian crude continues to stay below the US$70 level in the October 1-December 31 period," he said.
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