Former OPEC member suffers as investment, exploration dry up Volatile prices and onerous bureaucracy deter oil companies Start your day with what’s moving markets in Asia. Sign up here to receive our newsletter. Once a cornerstone of the economy, Indonesia’s oil and gas sector is in a slump, even as the country’s appetite for energy soars. Hit by a drop in global prices, changing regulations and competition from neighbors that are proving more attractive to international energy companies, Southeast Asia’s biggest economy is facing a decline in oil revenue and steadily rising fuel imports. With an economy growing at a 5 percent clip and the government embarking on a vast infrastructure roll out, the oil and gas industry is sounding alarm bells over the decline of a sector that five years ago accounted for almost 6 percent of Indonesia’s gross domestic product and last year contributed only 3 percent. […]