Bloomberg News says an Energy and Mineral Resources Ministry report shows Indonesia’s oil imports may increase 15% during 2005 to 472,000 barrels of oil per day (bopd), while its exports may drop 6% to only 411,000 bopd.

Ministry figures show indigenous oil production peaking at 1.67 million bopd in 1976-77 and sliding ever since, while imports have continued to grow to approximately 1.4 million bopd.

Indonesia's 5.5% forecast economic growth is not only fuelling energy demand but also contributing to the ending the country's role as a net oil exporter. It has failed to meet its 1.425 million bopd OPEC quota since early 2002.