JAKARTA (Reuters) - Indonesia's palm-based biodiesel firms, which have mostly stopped operations, are awaiting a fair price formula and government subsidies to survive as they feel the pinch of surging palm oil prices, an industry official said. The fledgling industry is expected to play a key role in absorbing growing palm output in world's top producer, but as feedstock prices become more expensive than fossil oils, it is difficult for the industry to expand without government support.

Jakarta (ANTARA News) - Indonesia is still rich in oil and gas reserves so that it remains an attractive place for investment in the oil and gas sector, a company executive said. "The oil industry prospect in Indonesia is still very good because it sits on huge oil and gas reserves which have not yet been explored," President Director of PT Medco Energi International, Darmoyo Doyoatmojo said here on Friday.