Indonesia is set to rejoin OPEC after suspending its membership in 2009.

OPEC said Wednesday that Indonesia has submitted an official request to reactivate its full membership.

The request has been circulated to all OPEC member countries for their consideration and approval.

The Indonesian Minister of Energy and Mineral Resources Sudirman Said will be invited to attend the next regular meeting of the OPEC conference on December 4, 2015.

The meeting will include the formalities of reactivating Indonesia’s membership, OPEC said.

The OPEC Secretariat has also recently received a high-level delegation from the Indonesian Parliament, headed by the chairman of its Energy Committee.

Indonesia became a member of OPEC in 1962 before suspending its membership on January 1, 2009.

The International Energy Agency expects Indonesia to produce an average of 870,000 barrels per day in 2015, or about half of its peak output during the late 1970s, CNN Money noted.

“Indonesia has contributed much to OPEC’s history.  We welcome its return to the organization,” OPEC said.

According the Platts, OPEC pumped 31.26 million barrels of oil per day in August, down from 140,000 bpd from July.

“This is the first time OPEC output has fallen since February, but it shouldn’t be over-interpreted. The August total still puts OPEC exceeding its official ceiling by 1.26 million b/d and Saudi oil is still flowing at record levels,” senior correspondent for Platts Margaret McQuaile said.


Leave a Reply