Head of Indonesian upstream company takes a maverick position on oil’s future

Hilmi Panigoro, the head of Indonesia’s PT Medco Energi Internasional, believes that crude oil is a good long-term investment, despite widespread efforts to reduce consumption of fossil fuels. He told Bloomberg in an interview that world oil prices were likely to hover around $60 per barrel in the short term but could go higher than $100 per barrel in the long term.

Posted by Jennifer Delay Iacullo

Jennifer DeLay Iacullo is a freelance writer specializing in global oil, gas, and power engineering topics. She has covered the energy industry of the former Soviet Union, China, Africa, Latin America and North America for more than 20 years. She lives in Atlanta with her family.

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