Indonesia gets nod to rejoin oil group

Indonesia has been notified it can rejoin the Organisation of the Petroleum Exporting Countries (OPEC). The nation had been part of the group for 47 years until it suspended its […]

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By Priyanka Shrestha

Indonesia has been notified it can rejoin the Organisation of the Petroleum Exporting Countries (OPEC).

The nation had been part of the group for 47 years until it suspended its membership in January 2009 after becoming a net importer of oil.

OPEC said it has invited the country’s Energy Minister Sudirman Said to its meeting in Vienna at the end of the year for the “formalities of reactivating Indonesia’s membership”.

It follows an official request submitted by the country to reactivate its full membership in the organisation.

Last month OPEC produced 31.26 million barrels of oil per day (b/d), according to latest figures.