Increase in oil supply quota 'good for RI'<\/p>\n
JAKARTA (JP): Former secretary-general for the Organization of
\nthe Petroleum Exporting Countries (OPEC) Subroto called on
\nIndonesia yesterday to put its weight behind Saudi Arabia's call
\nfor an increase in the oil supply quota.<\/p>\n
\"If the quota is raised, Indonesia will certainly have its
\nquota raised as well. This would provide a chance for the country
\nto get more oil revenue,\" Subroto said.<\/p>\n
Minister of Mines and Energy I.B. Sudjana, as head of the
\nIndonesian delegation for the upcoming OPEC meeting in Jakarta,
\nhas not yet made any statement on Indonesia's stance over the
\nSaudi call to increase oil supply to anticipate world demand.<\/p>\n
OPEC's oil ministers will hold their biannual meeting starting
\nNov. 26 at the newly built Dharmawangsa Hotel.<\/p>\n
The production quota of the 11 OPEC member countries is 25.03
\nmillion barrels per day (bpd).<\/p>\n
The Saudi delegation to OPEC's Economic Commission Board (ECB)
\npredicted last week that world demand for oil would rise to 75.8
\nmillion bpd next year, from 73.48 million bpd this year.<\/p>\n
The Saudi delegation projected that non-OPEC supplies would
\ntop 48.6 million bpd next year, up from 47.35 million bpd this
\nyear.<\/p>\n
The delegation called on OPEC members to raise their oil
\nsupply quota to fill any remaining demand left unsupplied by non-
\nOPEC countries.<\/p>\n
However, Reuters said most of the other member states at the
\nECB discussion disputed the Saudi projections.<\/p>\n
They predicted world demand for oil would increase 1.87
\nmillion bpd to 75.35 million bpd next year, but non-OPEC
\ncountries would increase production by 1.86 million bpd.<\/p>\n
They said demand for oil from OPEC members would only increase
\n10,000 bpd.<\/p>\n
OPEC's president Abdullah bin Hamad al-Attaiyah, who is also
\nQatar's oil minister, earlier said he did not expect
\nextraordinary things to happen during the Jakarta meeting since
\nthe oil supply quota would remain unchanged.<\/p>\n
Subroto called on OPEC yesterday to increase the oil supply
\nquota to prevent non-OPEC members from taking advantage of the
\ngrowth in world demand.<\/p>\n
OPEC's governor for Indonesia Purnomo Yusgiantoro, also an
\nexpert advisor to Sudjana, refused to reveal yesterday
\nIndonesia's stance on the oil supply quota discussion.<\/p>\n
\"The quota issue will be decided during the meeting,\" he said.<\/p>\n
But Purnomo estimated that world demand for oil would increase
\nonly by 1.75 million bpd to 75.23 million bpd next year, mainly
\nbecause of the growth in demand in developing countries such as
\nChina.<\/p>\n
\"Developing countries will account for one million bpd of next
\nyear's growth,\" he said.<\/p>\n
Purnomo said the meeting would be attended by 105 delegates
\nfrom Iraq, Kuwait, Saudi Arabia, Venezuela, Algeria, Indonesia,
\nLibya, Nigeria, Qatar and the United Arab Emirates.<\/p>\n
The oil ministers of the 11 countries will hold a bilateral
\nmeeting on Nov. 28 and will be received by President Soeharto on
\nDec. 1.<\/p>\n
He said the conference would have a routine agenda and would
\ndiscuss administration and finance, restructuring of the OPEC
\norganization, oil price development and monitoring of oil
\nproduction of member countries.<\/p>\n
The meeting will also elect OPEC's next secretary-general for
\na three-year term. The present secretary-general is Rilwanu
\nLukman from Nigeria. (jsk)<\/p>",
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