Indonesia to pump more oil to reduce imports reliance

08:54, December 29, 2010      

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Global oil prices are soaring, and set to exceed 100 dollars a barrel. But Indonesia's unconcerned about the impact on its economy, as the country plans to pump more oil to reduce reliance on imports.

Coordinating Minister for Economy Hatta Rajasa says the government won't increase the price of oil on the domestic market next year. He says Indonesia's economy showed resilience when the oil price soared over 140 U.S. dollars a barrel years ago. To date, the global price of oil has exceeded Indonesia's assumption of 80 US dollars in its 2011 budget.

Minister Hatta says the government will raise oil output next year to 970 thousand barrels a day, higher than this year's target of 950 thousand. Oil and gas watchdog BP Migas says Indonesia failed to reach its output target this year due to pipe leakages.

Source: CNTV.cn
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