Indonesia to propose OPEC maintain current quotas: Purnomo

Jakarta (Platts)--4Sep2006

Indonesia will propose that OPEC maintain and possibly even raise its
current production when the cartel next meets in Vienna September 11, Energy
and Mines Minister Purnomo Yusgiantoro said Monday.
"We will propose [that] OPEC maintain its current production. If possible
we want OPEC to increase its production because the current price of
$70/barrel is too high," Purnomo said.
On August 31 Indonesia's OPEC Governor Maizar Rahman made much the same
comment, but adding that "the ideal price at present is $50/barrel."
Purnomo said that he plans to attend the September 11 meeting and also
will attend an OPEC minister's conference which will be attended by oil
producers and consumers.
"Indonesia currently is a producer as well as consumer. We will be the
balancer as producers want high oil prices while consumers wants low oil
prices," Purnomo said.
Indonesia is the only Asian member of OPEC. It is currently pumping about
920,000 b/d, way below its OPEC quota of 1.451 million b/d.
--Anita Nugraha, newsdesk@platts.com


 

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