Low Oil And Gas Lifting Is The Cause Of PNBP Down, Minister Of Energy And Mineral Resources Says This

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif. (Photo: Maria Trisnawati)

JAKARTA - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif opened his voice regarding state revenues in May which declined due to the decline in oil and gas lifting.

Just so you know, based on a report from the Ministry of Finance, Non-Tax State Revenue (PNBP) from oil and gas natural resources (SDA) in May experienced a contraction of 9.9 percent or only Rp46 trillion. This amount only reached 41.8 percent of the 2024 target.

Finance Minister Sri Mulyani said the decline in PNBP was due to the decline in domestic oil lifting.

In response to this, the Minister of Energy and Mineral Resources acknowledged that the treasurer's statement was true. Arifin said the sluggish lifting was caused by a decrease of 20,000 to 30,000 barrels of oil.

"Oil and gas, yes, if our imports go up, then the exchange rate. But also our production, which has also decreased by 20,000, but I don't think the decline is too big," said Arifin, quoted on Saturday, June 29.

However, Arifin said the biggest decline actually occurred in mineral and coal commodities. He explained that mineral and coal commodities have decreased due to commodity selling prices which continue to decline.

"The big one is PNBP which is mineral and coal because prices have dropped even though the volume is good," said Arifin.

For information, the average oil lifting until last March was only 567,650 barrels per day (BOPD). This figure has only touched 89.4 percent of the target set in the 2024 State Budget, which is 635,000 BOPD.

"We can report the realization until March 2024 of 567,650 BOPD or 89.4 percent of the APBN target," said Secretary General of the Ministry of Energy and Mineral Resources Dadan Kusdiana as quoted on Thursday, May 30.

The Ministry of Energy and Mineral Resources has also lowered the lifting target for 2025. This is in line with the realization of oil lifting this year which is still far from the target.

Dadan said the government proposed an oil lifting target in 2025 of 597,000 barrels per day (BOPD) or lower than the oil lifting target in 2024 which was set at 635,000 BOPD.