Tony Sagami - Veteran investment advisor and a leading expert on Asian markets.

Indonesia may quit OPEC

by Tony Sagami on May 6, 2008

in Asian Market, Stock Market in China

When you think of OPEC, Indonesia probably isn’t the first country that crosses your mind.

Well, Indonesia is in fact an OPEC member but it is considering quitting its membership in the Organization of
Petroleum Exporting Countries. Why? Indonesia is no longer a major oil exporter.

“Indonesia is no longer a net oil exporter. In fact we now import fuel products in considerable amount,” said
President
Susilo Bambang Yudhoyono.

Indonesia had more oil than it needed when its economy was crawling along at a third world pace. Now that it, along
with the rest of Asia,
is booming, it needs all the oil it can get it hands on.

{ 1 comment… read it below or add one }

1 Tukiyem Siti Ningsih November 29, 1999 at 7:00 PM

But Indonesia goverment is full of corruptors and can export corruptors to any other countries which needed.

Reply

Leave a Comment

I agree to the Terms and Conditions of this Website.

Previous post:

Next post: