RI will not trade off oil quota to other OPEC members
Thursday, October 5 2000 - 03:30 AM WIB
Minister of Mines and Energy Purnomo Yusgiantoro said in Jakarta on Wednesday that Indonesia would not trade off its additional oil quota to other OPEC members although it faced difficulties to meet the new production level.
The new oil production quota is temporary and the Organization of Petroleum Exporting Countries (OPEC) would lower their production level if the oil price in international market had returned to an ideal level set by the organization, the minister said.
Indonesia received an additional production quota of 41,600 barrels per day during the organization's recent meeting and it is difficult for the country to meet the new production level because most of the country's oil fields have been producing at their maximum capacity. (*)