OPEC wants Indonesia to stay member despite importing oil

JakartOrganization of the Petroleum Exporting Countriesa - The Organization of the Petroleum Exporting Countries (OPEC) would like Indonesia to remain a member, the president of the oil cartel said Tuesday on a visit to the country that has become an oil importer.

Indonesian President Susilo Bambang Yudhoyono announced in May that his country was considering quitting OPEC because its interests have come into conflict with the cartel's policies since it began importing oil in 2003.

OPEC President Chakib Khelil insisted, however, that Indonesia still had an important role to play in the cartel although the decision was Indonesia's alone.

"The decision to remain or sustain or pull out of OPEC is a sovereign decision," he said. "It is not up to OPEC. It is up to the country."

Khelil added at a press conference after meeting with Yudhoyono that it was common for a country to leave OPEC and then return. He cited Gabon and Ecuador as examples.

Yudhoyono's announcement of his country's potential OPEC pullout came in May, shortly before Indonesia raised oil prices by an average of 28.7 per cent as global oil prices soared, triggering protests nationwide and a decline of popularity for the president, who was expected to run for re-election next year.

Indonesian Energy Minister Purnomo Yusgiantoro said Indonesia would quit OPEC after December 31.

The country's ageing oil wells and a lack of investment in the energy sector have pushed its crude oil production down although it remains a net energy exporter, thanks to large deposits of natural gas and coal. (dpa)

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