Indonesia mulls withdrawal from OPEC

06/05/2008 -- 9:24 PM

Jakarta (VNA) - Indonesian President Susilo Bambang Yudhoyono said his government was considering a plan to quit from the Organisation of Petroleum Exporting Countries (OPEC). Indonesia’s crude oil production is now less than 1 million barrels per day because the oil is coming from old wells, Indonesia’s Antara news agency quoted the President as saying at the opening of a National Development Planning Congress on May 6. The President said he hoped the country could increase its crude oil production in the next two or three years. Indonesia is the only Southeast Asian member of the oil cartel but declining production levels have turned it into an importer.-Enditem
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