JAKARTA (REUTERS) - Indonesia's energy minister said on Friday that President Joko Widodo agrees to a plan for the country to rejoin OPEC, seven years after Southeast Asia's biggest crude producer left the oil exporters group.
"He fully agrees because we need to associate with the market," Energy and Mineral Resources Minister Sudirman Said told reporters.
"We are one of the biggest buyers, so naturally we should establish relations with producers, not only exporters."
Said added that Joko also approved his request to attend an upcoming OPEC meeting on June 3-4.
OPEC's statute stipulates, however, that any "country with a substantial net export of crude petroleum, which has fundamentally similar interests to those of Member Countries, may become a Full Member of the Organization, if accepted by a majority of three-fourths of Full Members, including the concurring votes of all Founder Members."
The group allows for associate members, which don't qualify for full membership "but are nevertheless admitted under such special conditions as may be prescribed".