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Indonesia to officially reactivate OPEC membership in Nov., official says

Xinhua, June 9, 2015 Adjust font size:

Indonesia was expected to officially reactivate its membership at the Organization of Petroleum Exporters Countries (OPEC) in November this year with the meeting to further discuss Indonesia's reactivation in the organization was expected to be held in Indonesia's leisure island of Bali, an Indonesian senior official said here on Tuesday. "In November, Indonesia will officially resume its membership in OPEC,"Oil and Gas Director General at Indonesia's Energy and Mineral Resources Ministry I Gusti Nyoman Wiratmadja said on the sidelines of a hearing session with legislators of the parliament.

He added that Indonesia had also filed in a proposal to host the organization's upcoming meeting in Bali. The proposal was conveyed to OPEC Secretary General Abdullah Al Badri, he said.

Wiratmadja said that that the reactivation of Indonesia's membership in OPEC was aimed at securing oil supply for domestic needs, adding that through the organization Indonesia would be able to directly buy oil from the producer countries.

He said Indonesia has drafted plans to establish joint committee with several OPEC members such as Iran, Iraq, Saudi Arabia and Azerbaijan on oil procurement contracts and possible development of oil refineries in Indonesia.

In the hearing with the legislators, Energy and Mineral Resources Minister Sudirman Said said that during the recent OPEC meeting held in Vienna last week, Indonesia has lobbied OPEC members to reactivate its membership in the organization which has been suspended since 2009.

He added that during the meeting Indonesian delegation, which presented at the event as an observer country, received supports from OPEC member countries on its membership reactivation.

The minister, however, said that as of now there has been no endorsement related to Indonesia's request to revoke the suspension from the oil exporter countries organization.

Indonesia officially joined OPEC in 1962 and withdrew from the group in 2008 as a result of its declining oil production capacity. Endi