Minister of Energy and Resources: Indonesia to be Observer in OPEC

Annisa ayu artanti    •    Kamis, 07 May 2015 17:28 WIB
Minister of Energy and Resources: Indonesia to be Observer in OPEC
Sudirman Said, Indonesian Minister of Energy and Mineral Resources, gestures during a discussion in the World Economic Forum on East Asia in Jakarta on April 21, 2015., Jakarta: The Minister of Energy and Resources (ESDM) Sudirman Said is considering an option for Indonesia to rejoin the Organization of the Petroleum Exporting Countries (OPEC) this year. 

"I would also consider Indonesia to actively took part in rejoining OPEC, since after we resigned earlier, the market’s dynamic were unable to be swiftly responded," Sudirman said during a press conference after appointing the Echelon I and II of the ministry, along with the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas), at the ministry’s office, Merdeka Selatan, Jakarta, Thursday (7/5/2015).

The plan was clear, Sudirman said, that Indonesia would not directly be a member of OPEC, but will initially become an observer to follow the market’s developments.

"We shall ask to be observers first, so we can interact with the market. So it is now wrong that we are called a member. Being in the market and interaction with large producers should be conducted," he said. 

Moreover, Sudirman told Indonesia will be able to learn along with the member nations of OPEC in the mechanism of oil procurement. The current problem is that today, oil buyers and sellers in Indonesia possess a huge gap, so that there are no profits to reap.

"We will become one of the biggest buyers. If we, as a buyer, keep our distance from the seller, we would not be able to take benefits. But if we are close with them, if we join their discussion events, then we would know 'the direction of the market is going this way'. So the closer we get to the market, it would be better," he explained.

He then provided an example about India, which purchased oil from Iran by the means of trading goods.

"Yesterday, i learnt from India which purchased oil from Iran by trading its goods," he conveyed. (Eko Prasetyo)


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