Indonesia becomes net oil importer: Aburizal

Indonesia will import more crude oil than it exports this year as production drops, Coordinating Minister for the Economy Aburizal Bakrie said.

Production of oil and condensates will probably fall to 1.06 million barrels a day by the end of the year, Bakrie told reporters in Jakarta Tuesday.

"From the volume of oil imports this year, we have been a net crude oil importer and this will affect our budget," Bakrie Told reporters in Jakarta.

Lower production this year could cut the government's income even as it strives to trim a budget deficit. Indonesia, a member of the Organization of Petroleum Exporting Countries, has failed since early 2002 to meet its OPEC output quota of 1.425 million barrels a day.

In June, Indonesia pumped 934,000 barrels a day of crude oil and 124,000 barrels a day of condensate.(dino)