Berita

OPEC member countries have agreed on Indonesia’s position as a net oil importer during their 149th meeting in Vienna, Austria. Both the conference and Indonesia have agreed on Indonesia’s membership suspension while expressing optimism that Indonesia will resume full membership under better circumstances.

OPEC has determined that the global oil supply is still sufficient, but demand is likely to increase during the oncoming winter. To anticipate this sharp rise in demand, OPEC has decided to return to September 2007’s production level amounting to 28,8 million barrels per day, which includes Angola and Equador with the exception of Indonesia and Iraq.

The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro have also conducted bilateral talks with Algier’s Minister of Energy and Mining, Chakib Khalil regarding crude oil and LPG import; Equador’s Minister of Oil and Mining, Rafael Correa regarding the possibility of oil and gas exploration cooperation in Equador; and Iraq’s Minister of Oil, Hussein Al-Shahristani regarding exploration and oil and gas production in Iraq. Purnomo Yusgiantoro also held talks with executives from ENI Italia, an oil company operating in the exploration and oil and gas production in Indonesia.