Indonesian President Susilo Bambang Yudhoyono said yesterday that Indonesia was considering quitting OPEC because it is no longer a net oil exporter.
“Our wells are drying,” he said in the nationally televised speech, adding that the country needed to concentrate on increasing domestic production, which has dropped to less than a million barrels a day even as consumption rises.
The government opened talks on Monday on whether it “should continue to stay with OPEC or withdraw our membership ... until we reach a point where we deserve to rejoin that organization,” Yudhoyono said.
The country is Southeast Asia’s only OPEC member. But it has to import oil because of decades of declining investment in exploration and extraction because of corruption and a weak legal system that makes oil companies wary of doing business there.
Indonesia’s oil output has declined steadily from 1.5 million to 1.6 million barrels a day in the mid-1990s. It produced around 860,000 barrels a day of crude oil last month and recorded a deficit of US$794 million in its oil trade accounts.
Raising output could take “one to three years,” Yudhoyono said.
It is not the first time the country has re-evaluated its OPEC membership, but in the past teams commissioned by the government have recommended staying in the grouping to maintain good relations with other oil producers, especially those in the Middle East.
A magnitude 7.0 earthquake struck off Yilan at 11:05pm yesterday, the Central Weather Administration (CWA) said. The epicenter was located at sea, about 32.3km east of Yilan County Hall, at a depth of 72.8km, CWA data showed There were no immediate reports of damage. The intensity of the quake, which gauges the actual effect of a seismic event, measured 4 in Yilan County area on Taiwan’s seven-tier intensity scale, the data showed. It measured 4 in other parts of eastern, northern and central Taiwan as well as Tainan, and 3 in Kaohsiung and Pingtung County, and 2 in Lienchiang and Penghu counties and 1
FOREIGN INTERFERENCE: Beijing would likely intensify public opinion warfare in next year’s local elections to prevent Lai from getting re-elected, the ‘Yomiuri Shimbun’ said Internal documents from a Chinese artificial intelligence (AI) company indicated that China has been using the technology to intervene in foreign elections, including propaganda targeting Taiwan’s local elections next year and presidential elections in 2028, a Japanese newspaper reported yesterday. The Institute of National Security of Vanderbilt University obtained nearly 400 pages of documents from GoLaxy, a company with ties to the Chinese government, and found evidence that it had apparently deployed sophisticated, AI-driven propaganda campaigns in Hong Kong and Taiwan to shape public opinion, the Yomiuri Shimbun reported. GoLaxy provides insights, situation analysis and public opinion-shaping technology by conducting network surveillance
‘POLITICAL GAME’: DPP lawmakers said the motion would not meet the legislative threshold needed, and accused the KMT and the TPP of trivializing the Constitution The Legislative Yuan yesterday approved a motion to initiate impeachment proceedings against President William Lai (賴清德), saying he had undermined Taiwan’s constitutional order and democracy. The motion was approved 61-50 by lawmakers from the main opposition Chinese Nationalist Party (KMT) and the smaller Taiwan People’s Party (TPP), who together hold a legislative majority. Under the motion, a roll call vote for impeachment would be held on May 19 next year, after various hearings are held and Lai is given the chance to defend himself. The move came after Lai on Monday last week did not promulgate an amendment passed by the legislature that
AFTERMATH: The Taipei City Government said it received 39 minor incident reports including gas leaks, water leaks and outages, and a damaged traffic signal A magnitude 7.0 earthquake struck off Taiwan’s northeastern coast late on Saturday, producing only two major aftershocks as of yesterday noon, the Central Weather Administration (CWA) said. The limited aftershocks contrast with last year’s major earthquake in Hualien County, as Saturday’s earthquake occurred at a greater depth in a subduction zone. Saturday’s earthquake struck at 11:05pm, with its hypocenter about 32.3km east of Yilan County Hall, at a depth of 72.8km. Shaking was felt in 17 administrative regions north of Tainan and in eastern Taiwan, reaching intensity level 4 on Taiwan’s seven-tier seismic scale, the CWA said. In Hualien, the
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