Jakarta Post

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post
The Jakarta Post
Video Weather icon 30°C
DKI Jakarta, Indonesia
30°C Partly Cloudy

Dry and mostly cloudy throughout the day.

  • Wed

    26℃ - 32℃

  • Thu

    25℃ - 32℃

  • Fri

    25℃ - 31℃

  • Sat

    26℃ - 30℃

Indonesia may be active again in OPEC, official says

  • News Desk
    News Desk

    The Jakarta Post

Jakarta | Tue, June 6, 2017 | 03:14 pm
Indonesia may be active again in OPEC, official says Energy and Mineral Resources Minister Ignasius Jonan (right) shakes hands with United Arab Emirates (UAE) Energy Minister Suhail Mohammed Faraj Al Mazrouei after their meeting in Jakarta on May 18. (Antara/ Aprillio Akbar)

The Energy and Mineral Resources Ministry says that Indonesia may again become an active member of the Organization of the Petroleum Exporting Countries (OPEC), after suspending its membership for the second time in November last year.

Earlier, Saudi Arabia and the United Arab Emirates had requested Indonesia to end its inactive membership in the organization.

In response to the request, Energy and Mineral Resources Minister Ignasius Jonan sent a letter to OPEC on May 25, saying that Indonesia was ready to be active again in OPEC on the condition that Indonesia would not be required to cut its oil production, considering that Indonesia's daily production had already been declining.

Ministry spokesman Sujatmiko said if Indonesia finally decided to be active again in OPEC, it would take more action to balance conflicting interests among member countries.

“Indonesia has long history in OPEC. [With this standing,] Indonesia will help smooth OPEC's internal mechanism,” he added as reported by kompas.com.

Indonesia suspended its OPEC membership for the first time in 2008 after the country became a net importer of the commodity.

Indonesia restored its active OPEC membership in early 2016, but decided to suspend its membership again on Nov. 30, 2016, after the organization required Indonesia to cut production by 5 percent.

The minister said that Indonesia could not accept the requirement. “As a net importer, the production cut does not benefit us,” Jonan added. (bbn)

Join the discussions