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Pulling Indonesian oil refining out of decline

End fuel subsidies and develop a positive approach to foreign investment

| Indonesia

While Indonesia's once-vibrant oil and gas production business is mostly a victim of geology and the natural decline of aging fields, the decrepitude of its oil refining industry is the result of bad decision-making -- poor policies, red tape, and lack of strategic planning.

Even though President Joko Widodo's last government contributed to these failures, his re-election last month creates an opportunity to revive much-needed reforms, especially in phasing out fuel subsidies.

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