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Indonesian energy minister seeks to rejoin Opec

JAKARTA, May 7, 2015

Indonesia's energy minister said on Thursday he would ask for President Joko Widodo's approval for the country to rejoin Opec, seven years after leaving the oil exporters' group.

Indonesia was the only Asian member of the Organization of the Petroleum Exporting Countries for nearly 50 years, before leaving the group in late 2008 as rising domestic demand and falling production turned it into a net oil importer.

"I will ask the president to consider rejoining as a member of Opec, so we are close to the market," Sudirman Said told reporters. "We have been offered to rejoin."

It was not immediately possible to confirm with Opec that it had offered to let Indonesia rejoin the group. The minister said he will attend Opec's meeting in early June as an observer.

"We are still exporting gas, though only a little bit, so it's not a problem (to be an Opec member again)," Said said.

Indonesia still exports some crude oil, although its imports of refined products make it a net importer. It is also a large exporter of liquefied natural gas.

The minister also said it would soon lead a high-level government delegation to Kuwait, Azerbaijan, Iraq, Russia and other oil-producing countries for possible supply deals. – Reuters




Tags: Opec | Indonesia |

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