Indonesia Courts Iran Over Oil Supply Amid Talks to Rejoin OPEC

OPEC agreed to suspend Indonesia’s membership in September 2008 at the country’s own request, almost half a century after the nation joined. The country pumped 882,000 barrels a day of oil in 2013 and consumed almost twice as much, according to BP Plc.

Iran’s Zanganeh said on Thursday he would welcome Indonesia’s return to OPEC, whose members are gathered in Vienna to discuss the 12-nation group’s production policy.

The minister urged OPEC this month to make room for more output from Iran when global sanctions recede. The group will keep its target of 30 million barrels a day unchanged at Friday’s meeting, according to all but one of the 34 analysts and traders in a Bloomberg survey.

The government in Tehran says it can add almost 1 million barrels to daily production within six months of sanctions being lifted. Iran offered condensate and liquefied petroleum gas, the energy ministry said in the statement.

To contact the reporter on this story: Fitri Wulandari in Jakarta at fwulandari@bloomberg.net. To contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net Neil Chatterjee


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