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Indonesia leaves OPEC, unhappy with influential power

06/02/2008
The Indonesian government, reportedly registering a protest at high global oil prices, has decided to terminate its membership in the Organization of Petroleum Exporting Countries, effective yearend.“We are pulling out of OPEC,” said Energy Minister Purnomo Yusgiantoro. “If our production comes back again to a level that gives us the status of a net oil exporter, then I think we can go back to OPEC,” he said.The decision to leave OPEC was mooted earlier in May when President Susilo Bambang Yudhoyono said Indonesia was struggling to boost oil production to reach a level where “we deserve to be a member of the organization (OGJ Online, May 8, 2008).”At th...
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