Purnomo Yusgiantoro Quotations

With the instruction, we have to reduce oil exports on consideration that it will be more economical and can lower our fuel oil production costs,

Police and the coordinating minister for security affairs have requested support from the military... Once the situation returns to normal, then the police can take over.

I have been in this business for a while and I know that this (demand) is impossible.

OPEC has to take a decision to cut output. Such a decision will give good signs to the oil market.

We are meeting in September and we are ready to increase production if it is necessary with immediate additional production between 1 million and 1.5 million bpd,

What we see is the political premium between $10 and $15 per barrel,

The options are is still wide open, including maintaining the current tariffs.

At the moment, there's nothing we can do. OPEC has spare capacity. However, whatever we do, there is no sensitivity in the market,

Cosmetic? You are talking about quotas. But when it comes to production, OPEC responds to the market. We are producing 2 million barrels a day more.

do what we can do to assure market stability.

Our decision is in place, up until now we will still increase by 500,000 barrels a day from August. This decision is still valid.

This is because of Hurricane Ivan and some problems in other places,

The ministers noted that current high oil prices are the result of a combination of many factors, ... Principal among them are gasoline bottlenecks in some regions of the world, increased geopolitical tensions in some regions, speculation in the futures market and recent upward revisions in global demand. These factors were analyzed with a view toward finding a solution to the problem.

If the problem in Iran is not resolved immediately, we are worried that global oil prices will rise again because Iran is an OPEC member.

If you look at the supply and demand balance, the world has enough oil,

High oil prices can cause recession. We are not happy with high oil prices,