RI`OIL TO RUN OUT IN NEXT 15 YEARS: PRESIDENT YUDHOYONO SAYS
ANTARA News - RI`OIL TO RUN OUT IN NEXT 15 YEARS: PRESIDENT YUDHOYONO SAYS
Jul 28 04:43
RI`OIL TO RUN OUT IN NEXT 15 YEARS: PRESIDENT YUDHOYONO SAYS
Beijing (ANTARA News) - President Susilo Bambang Yudhoyono said that in the next 15 years the crude oil reserves in Indonesia would run out if there were no more new oil fields had been discovered.
President Yudhoyono who was paying a state visit to China on July 27 to 30, 2005, made the statement in a meeting with members of the Indonesian community here on Wednesday night.
Apart from oil, he said, the natural gas reserves in the country would also run out in the next 60 years, while the new coal deposits were still sufficient for the next 150 years.
Due to its depleting natural resources, President Yudhoyono who underlined the importance of energy conservation, has also underlined the need for energy diversification, and stop relying on natural oil, and start using coal, gas, geothermal energy and briquettes.
The Head of State further said that Indonesia in its history has never suffered from the crude oil price hike in the international market which had reached 60 US dollars per barrel.
"It has also caused an increase in the government`s fuel subsidy to Rp120 trillion, which has never occurred in any other country in the world," he added. "In Indonesia, some 25 to 30 percent of its state budget of Rp500 trillion had been used for the subsidy."
As a result, he said, Indonesia have problems in its development efforts, especially in sectors like healthcare, education and people`s welfare.
In the past, under President Soeharto, Indonesia produced 1.4 million barrels of oil per day, but in the last couple of years the country produced only 1.1 million barrels per day.
In the past, the country was able to export oil, but now it has to import the commodity at a constantly increasing price.
During his visit, the President is in the company of his wife and an entourage which included Coordinating Minister for Economic Affairs Aburizal Bakrie, Finance Minister Yusuf Anwar, Research and Technology Minister Kusmayanto Kadiman, State Enterprises Minister Sugiharto, Cabinet Secretary Sudi Silalahi and Corruption Eradication Commission (KPK) chairman Taufikurrahman Ruki.
Also in the president`s entourage were legislators, businessmen and academicians.
Later on Thursday, he was scheduled to meet Chinese Prime Minister Wen Jiabao and his counterpart, Hu Jintao.
Indonesia and China will sign a number of agreements including on economic cooperation and assistance for tsunami-hit Aceh.
Indonesian and Chinese delegations will sign a Memorandum of Understanding (MoU) on economic and technical grants; cooperation in development, study and supervision as well as general administrative quality supervision.
They will also sign a Letter of Exchange Project Using Preferential Buyers Credit worth US$100 million and an assistance to build a tsunami early warning system.
During the visit, Yudhoyono will also meet Chinese bankers including Chinese Development Bank Governor Chen Yuan and local entrepreneurs.
He was also slated to visit Shenzhen on Friday to obtain first-hand information on the industrial sector in the city.
Before returning home on Saturday, Yudhoyono will visit several companies including Hua Wei Technologies Company and Neptunus Pharmaceutical Group Company in Shenzhen.(*)
Jul 28 04:43
RI`OIL TO RUN OUT IN NEXT 15 YEARS: PRESIDENT YUDHOYONO SAYS
Beijing (ANTARA News) - President Susilo Bambang Yudhoyono said that in the next 15 years the crude oil reserves in Indonesia would run out if there were no more new oil fields had been discovered.
President Yudhoyono who was paying a state visit to China on July 27 to 30, 2005, made the statement in a meeting with members of the Indonesian community here on Wednesday night.
Apart from oil, he said, the natural gas reserves in the country would also run out in the next 60 years, while the new coal deposits were still sufficient for the next 150 years.
Due to its depleting natural resources, President Yudhoyono who underlined the importance of energy conservation, has also underlined the need for energy diversification, and stop relying on natural oil, and start using coal, gas, geothermal energy and briquettes.
The Head of State further said that Indonesia in its history has never suffered from the crude oil price hike in the international market which had reached 60 US dollars per barrel.
"It has also caused an increase in the government`s fuel subsidy to Rp120 trillion, which has never occurred in any other country in the world," he added. "In Indonesia, some 25 to 30 percent of its state budget of Rp500 trillion had been used for the subsidy."
As a result, he said, Indonesia have problems in its development efforts, especially in sectors like healthcare, education and people`s welfare.
In the past, under President Soeharto, Indonesia produced 1.4 million barrels of oil per day, but in the last couple of years the country produced only 1.1 million barrels per day.
In the past, the country was able to export oil, but now it has to import the commodity at a constantly increasing price.
During his visit, the President is in the company of his wife and an entourage which included Coordinating Minister for Economic Affairs Aburizal Bakrie, Finance Minister Yusuf Anwar, Research and Technology Minister Kusmayanto Kadiman, State Enterprises Minister Sugiharto, Cabinet Secretary Sudi Silalahi and Corruption Eradication Commission (KPK) chairman Taufikurrahman Ruki.
Also in the president`s entourage were legislators, businessmen and academicians.
Later on Thursday, he was scheduled to meet Chinese Prime Minister Wen Jiabao and his counterpart, Hu Jintao.
Indonesia and China will sign a number of agreements including on economic cooperation and assistance for tsunami-hit Aceh.
Indonesian and Chinese delegations will sign a Memorandum of Understanding (MoU) on economic and technical grants; cooperation in development, study and supervision as well as general administrative quality supervision.
They will also sign a Letter of Exchange Project Using Preferential Buyers Credit worth US$100 million and an assistance to build a tsunami early warning system.
During the visit, Yudhoyono will also meet Chinese bankers including Chinese Development Bank Governor Chen Yuan and local entrepreneurs.
He was also slated to visit Shenzhen on Friday to obtain first-hand information on the industrial sector in the city.
Before returning home on Saturday, Yudhoyono will visit several companies including Hua Wei Technologies Company and Neptunus Pharmaceutical Group Company in Shenzhen.(*)
posted by Marcel at 3:20 AM
0 Comments:
Post a Comment
<< Home