Indonesia to stay as full OPEC member

Indonesia, Asia-Pacific’s only member of the Organization of the Petroleum Exporting Countries (OPEC), has decided to remain a full member of the cartel, an official at energy watchdog BPMIGAS said today.

Indonesia’s declining oil production has left it unable to meet its OPEC quota, and it became a net importer of oil for several months of last year. That lead to some calls from parliamentary and industry groups for it to leave the cartel.

In April, a government panel suggested Indonesia could become an observer at OPEC, which would remove its voting rights but also mean it would not have to pay the financial costs of membership.

The Independent Bangla Desh