OPEC wants Indonesia to stay
by Karen Remo-Listana
Posted: 27 June 2005
The Organisation of Petroleum Exporting Countries (OPEC) has asked Indonesia to retain its membership, according to an Indonesian official in the light of rumours saying Indonesia would have to quit from the 11-cartel organisation due to its sharp drop in oil production.
 The letter, signed by OPEC Pr esident Ahmad Fahad Al-Ahmad ; and sent by OPEC's acting Secretary General Adnan Shihab-Eldin, indicated that all OPEC members support Indonesia to continue being OPEC member.. The correspondence also said there is no reason for Indonesia to quit the organisation.
Indonesia ’s production level as July 2005 is 1,451,000 b/d, according to OPEC’s official quota report. The state’s current average oil production stood at 1.07 million barrels per day or below the targeted 1.13 million in the 2005 state budget.
The government has targeted to boost oil output to 1.3 million bpd by 2008.
Posted by Editor Pipeline Magazine
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