During a time of record crude prices and global demand the former Indonesian Oil Minister, Ginandjar Kartasasmita, has said Indonesia should quit OPEC because it can no longer pump out more than it imports.
According to Ginandjar, “There are no advantages for us to stay with OPEC. Indonesia might as well drop out of the cartel if we can't boost our crude oil production.”
“Indonesia will do fine without OPEC,” added Ginandjar, who was the country’s Mines and Energy Minister from 1988 to 1993.
Ginandjar’s missive comes on the back of current Energy Minister Purnomo Yusgiantoro accrediting “temporary oil field glitches” as the reasons behind the country’s decline in crude oil exports.
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