Indonesia to Cut Oil, Gas Exports

Indonesia plans to gradually reduce oil and gas exports to meet domestic demand, according to Xinhua.

The Southeast Asian nation would reduce natural gas from current 41 percent of output to zero 2040, said I.G.N. Wiratmadja, director general of oil and gas at energy and mines ministry.

The ministry plans to reduce oil export from 38 percent to 15 percent in the next ten years, and for a long term, it will be cut gradually to zero, Xinhua quoted Wiratmadja as saying.

Indonesia has decided to increase reliance on gas and nuclear power to comply with rising energy demand.