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Update: Opec welcomes back Indonesia

Friday, June 5, 2015 - 17:33

[JAKARTA] Indonesia has gained approval from all Opec members for its plan to rejoin the oil exporters group, a statement from Indonesia's energy ministry said on Friday, citing support from Saudi Arabia Oil Minister Ali al-Naimi.

"The Saudi Arabian government delegation appreciate and fully support the decision of the Indonesian government to become an Opec member again, because Indonesia is one of the founders of Opec," Indonesian Energy Minister Sudirman Said said in the statement.

Saudi Arabia is Indonesia's top crude supplier.

Mr Naimi will also push for Saudi state oil firm Saudi Aramco to invest in Indonesia's downstream sector, Said said.

The government of the United Arab Emirates has also offered to supply crude and fuel to Indonesia via Mubadala Petroleum, while Iraq said it was open to Indonesia expanding its investment in Iraq's upstream sector, the statement said.

Among other efforts to meet growing fuel demand and declining domestic output in Southeast Asia's largest economy, Indonesia is also seeking to participate in Kuwait's upstream sector.

REUTERS