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| Version 1 | Version 2 |
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| Indonesia mulls Opec withdrawal | Indonesia mulls Opec withdrawal |
| (about 1 hour later) | |
| Opec member Indonesia is considering leaving the oil cartel to concentrate on domestic production, the country's president has said. | Opec member Indonesia is considering leaving the oil cartel to concentrate on domestic production, the country's president has said. |
| Levels of oil production from its ageing wells are declining, making the country a net importer of oil when crude prices are at record levels. | Levels of oil production from its ageing wells are declining, making the country a net importer of oil when crude prices are at record levels. |
| It has had to cut subsidies on domestic fuel to avoid a massive budget deficit. | It has had to cut subsidies on domestic fuel to avoid a massive budget deficit. |
| Some analysts have said the oil exporting group's reluctance to boost production has kept prices high. | |
| Oil analyst Kurtubi said that - as an oil importer - Indonesia's concerns clashed with those of other Opec members. | Oil analyst Kurtubi said that - as an oil importer - Indonesia's concerns clashed with those of other Opec members. |
| Indonesia spends billions of dollars every year subsidising fuel for its citzens - which is a huge drain on its economic resources and on the government's coffers Karishma Vaswani, BBC News correspondent | Indonesia spends billions of dollars every year subsidising fuel for its citzens - which is a huge drain on its economic resources and on the government's coffers Karishma Vaswani, BBC News correspondent |
| "[Indonesia's] interests now are different. We want oil prices to come down as high oil prices put pressure on our budget. But exporters want a reasonable or even high price since it is their main source of revenue." | "[Indonesia's] interests now are different. We want oil prices to come down as high oil prices put pressure on our budget. But exporters want a reasonable or even high price since it is their main source of revenue." |
| Declining investment in Indonesia's oil infrastructure has seen its output drop below a million barrels a day from about 1.5m in the mid-1990s. | Declining investment in Indonesia's oil infrastructure has seen its output drop below a million barrels a day from about 1.5m in the mid-1990s. |
| President Susilo Bambang Yudhoyono said the government had begun talks as to "whether we should continue to stay with Opec or withdraw our membership". | President Susilo Bambang Yudhoyono said the government had begun talks as to "whether we should continue to stay with Opec or withdraw our membership". |
| Protests | Protests |
| The Indonesian government announced on Monday that it would have to cut subsidies on fuel to avoid a massive budget deficit. | The Indonesian government announced on Monday that it would have to cut subsidies on fuel to avoid a massive budget deficit. |
| The move led to a demonstration against the rising price of fuel in Makassar on Indonesia's Sulawesi island, according to one media report. | The move led to a demonstration against the rising price of fuel in Makassar on Indonesia's Sulawesi island, according to one media report. |
| The decision to leave Opec will be a tough one for Indonesia, says Karishma Vaswani, one of the BBC's Asia business correpondents. | The decision to leave Opec will be a tough one for Indonesia, says Karishma Vaswani, one of the BBC's Asia business correpondents. |
| But it may be necessary because of the economic and political conditions the country is facing right now, she adds. | But it may be necessary because of the economic and political conditions the country is facing right now, she adds. |
| It spends billions of dollars every year subsidising fuel for its citzens, which is a huge drain on its economic resources and on the government's coffers, our correspondent points out. | It spends billions of dollars every year subsidising fuel for its citzens, which is a huge drain on its economic resources and on the government's coffers, our correspondent points out. |
| However, raising fuel prices is a politically unpopular move, so it is choosing instead to focus its resources on investing in its domestic oil and gas production, she adds. | However, raising fuel prices is a politically unpopular move, so it is choosing instead to focus its resources on investing in its domestic oil and gas production, she adds. |
| When Indonesia has had to raise domestic fuel prices in the past, this has led to big protests against the government, which faces an election in 2009. | When Indonesia has had to raise domestic fuel prices in the past, this has led to big protests against the government, which faces an election in 2009. |
| Indonesia is South East Asia's only Opec representative and has been a member since 1962, two years after it was founded. | Indonesia is South East Asia's only Opec representative and has been a member since 1962, two years after it was founded. |