Indonesia open to rejoining OPEC if not forced to cut, says minister

opecHOUSTON: Indonesia is open to rejoining the Organization of the Petroleum Exporting Countries as long as it is not forced to curb its own crude oil production, the nation’s energy and mineral resources minister said.

“We would have to have a concession for not following cuts from time to time,” the minister, Ignasius Jonan, said in an interview in Houston, where he is meeting with Chevron Corp and other major oil producers.

The minister also said that miner Freeport-McMoRan Inc would need to build a smelter in Indonesia and divest 51% of its holdings in the country in order to renew its license in the country, calling the terms non-negotiable.