Oil report

Indonesia president orders ministers to target lower exports of raw coal

JAKARTA, Oct 23 (Reuters) - Indonesian President Joko Widodo on Friday ordered his cabinet ministers to set a target to reduce exports of unprocessed coal and accelerate plans to develop derivative industries for processing the fuel.

Indonesia, the world’s biggest thermal coal exporter, should quickly develop domestic industry to upgrade, liquefy and gasify its coal, the president said.

“I want to seek solutions on the slow development of the derivative industry because we have been exporting raw coal for too long. I think its time for this to end,” he said in a broadcast of the virtual meeting.

Reporting by Maikel Jefriando Writing by Fransiska Nangoy Editing by Ed Davies