Minister for Energy and Mineral Resources Purnomo Yusgiantoro of Indonesia
With our average oil price assumption of $72 a barrel, then the subsidy can reach 90 trillion in 2007," Purnomo Yusgiantoro was quoted by Reuters as telling reporters.
Energy Minister Purnomo Yusgiantoro said at a news conference that if it did not take this action, Indonesia would be spending almost $14 billion this year for fuel subsidies.
Yusgiantoro said late Friday that the price of gasoline will jump 33 percent to 6,000 rupiah (63 US.
Purnomo Yusgiantoro said the move follows declining oil production levels in Indonesia that have left the country a net importer of oil.
Energy and Mining Minister Purnomo Yusgiantoro said on Tuesday.
Indonesian Oil Minister Purnomo Yusgiantoro is set to sign the decree that will release Indonesia from its OPEC obligations after months of discussion about the benefits of withdrawing from the producer group.
PT Trans Pacific Petrochemical Indonesia (TPPI.
Energy and Mineral Resources Minister Purnomo Yusgiantoro said however that his country could rejoin if production increased in line with an ongoing effort to boost capacity after years of declining investment.
Indonesia will quit the Organization of the Petroleum Exporting Countries, Yusgiantoro said on Wednesday.
Purnomo Yusgiantoro said Wednesday that Southeast Asia's only OPEC member no longer belonged among exporting heavyweights like Saudi Arabia, Venezuela and Kuwait.
Indonesia is a member of the Organization of Petroleum Exporting Countries (OPEC) and Yusgiantoro said the group sees sufficient supplies in 2007.
The conflict in the Middle East sent oil prices soaring to all-time highs above 78 usd last month and Yusgiantoro said he wants to see a return to a 'normal trend' of 50-60 usd.
Yusgiantoro said the consumption of oil in Indonesia is decreasing after the government reduced costly oil subsidies and Indonesians turned to alternative energy sources.
IEA sees $100 oil by 2010; Indonesia's oil and gas revenue is up; Turkey, Chevron discuss Black Sea oil.
JAKARTA, Indonesia, May 28 -- Declining oil reserves and investment have forced Indonesia to quit the Organization of the Petroleum Exporting Countries even as other members cash in on soaring global prices, Energy Minister Purnomo Yusgiantoro said Wednesday.
Yusgiantoro said government regulation No 3/2005 will provide a basis for investment, adding that the new regulation updates a 1989 regulation, with an emphasis on technical issues related to, among other things: quality control; the environment; and the delegation of authorities to the governor and regencies for local power networks.
Yusgiantoro said he was not sure if revisions to the electricity legislation will maintain PLN's monopoly status.
Energy and Mineral Resources Minister Purnomo Yusgiantoro said electricity consumption in 2020 is expected to reach 60,000 MW.
Energy and Mineral Resources Minister Purnomo Yusgiantoro said at the 2007 World Renewable Energy Regional Congress and Exhibition that growth in Indonesia's renewable energy sector would remain slow as long as fuel subsidies existed.
Reduced to the status of a marginal net oil exporter, Indonesia will quit the Organization of the Petroleum Exporting Countries at the end of this year, Energy Minister Purnomo Yusgiantoro said Wednesday.
Purnomo Yusgiantoro is president of OPEC.
5 million barrels a day, which would allow for a immediate additional increase in production," Opec President Purnomo Yusgiantoro said in a statement on Wednesday.
Indonesia cannot rule out further hikes in fuel prices ahead of the 2009 presidential elections, Energy Minister Purnomo Yusgiantoro said on Sunday, due to the impact of fuel subsidies on the budget.
NUSA DUA, Indonesia (Reuters) - Indonesia cannot rule out further hikes in fuel prices ahead of the 2009 presidential elections, Energy Minister Purnomo Yusgiantoro said on Sunday, due to the impact of fuel subsidies on the budget.
Asked whether the government could guarantee there would be no more increases in fuel prices before the next presidential election due by mid-2009, Yusgiantoro said that was not possible.
West Coast, Indonesia's Energy Minister Purnomo Yusgiantoro said Thursday.
Purnomo Yusgiantoro said it no longer made sense for his oil-producing nation to be a member of Organization of Petroleum Exporting Countries, and that it will quit after its membership expires at the end of the year.
27-10-03 Indonesian Energy and Mineral Resources Minister Purnomo Yusgiantoro said the world oil demand is predicted to decline next year, peaking at the second quarter when it will drop by 2 mm bpd.