Indonesia Looks to Revive Its Oil and Gas Industry

Indonesia plans to cut red tape to encourage oil and gas exploration as it looks to revive its domestic oil and gas industry and boost energy security, the new government and president have said. “We must have energy self-sufficiency and we are capable to be self-sufficient,” newly sworn-in President Prabowo Subianto said in his inauguration speech, as carried by Reuters. Indonesia, which was a member of OPEC between 1962 and 2009, reactivated its membership in the organization in early 2016, but suspended it again later that same year,...