Indonesian Crude Price

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Indonesian Crude Price, or ICP, is a price index for crude oil from Indonesia.

The ICP is determined by Pertamina, based on moving average spot price of a basket of five internationally traded crudes:

  • Minas (Indonesia)
  • Tapis (Malaysia)
  • Gippsland (Australia)
  • Dubai (UAE)
  • Oman

In some cases ICP is used as index in long term LNG contracts in East Asia.[citation needed]