Indonesia is Looking for the Contract Supply of Oil at the OPEC Meeting

The government plans to conduct bilateral meetings with saudi Arabia, Kuwait, Iran, Iraq, Oman and the united Arab Emirates 'We will discuss the purchase of crude oil from them We plan to build a refinery, so we need a steady supply of crude oil, said Nyoman Puja, director general of oil and gas in the Ministry of Energy and Mineral Resources, told Reuters news agency on Monday night (to)Indonesia, which is expected to become an importer of fuel oil the largest in the world in the twenty, the difficulty of attracting investment in the sectors of refining and all the latest old more than twenty years. Government talks with Kuwait Petroleum and Saudi Aramco stunted years of two twenty-thirteen because of tax issues, and negotiations similar to Iran and Iraq for the supply of crude oil is also not experiencing much progress. But President Joko Widodo has updated the impetus for attracting investment in the oil sector with the cleaning industry who spotted corruption and offers investors the incentives better. 'Although we have no formal commitment with them, they have shown interest in supplying crude oil to the us in the long run, the twenty years, and ready to have a share in the projects of refining if necessary, said Nyoman. The government wants to build four new refineries and improve four existing facilities in ten years, he added Indonesia, who attended the OPEC meeting Friday as an observer, will determine once the meeting ends whether it will formally ask to join back as a member. Indonesia is the only OPEC member from Asia for nearly fifty years before out of the group it was the year twenty when oil prices reached a record high, and rising domestic demand and the fall in production make the country an oil importer until now. A full member of OPEC must be exporting oil net, but a country can become a member of the counterparty under certain conditions. If join return, Indonesia will become the smallest producer in the fourth over Libya, Ecuador and Qatar, and make the number of members of the thirteen countries.