Indonesia Imported 30 Million Tons of Oil in January-September 2022

Indonesia's increasing demand for fuel oil cannot be met by domestic oil production. As a result, the government has to import large quantities of oil, both crude oil and refined oil products.

Indonesia's Central Bureau of Statistics (BPS) reported that oil imports reached 30.06 million tons from January to September 2022. This figure increased by 16.89% compared to the same period the previous year.

Specifically, from January to September 2022, imports of crude oil reached 11.23 million tons, a 7.7% increase compared to the first nine months of the previous year.

Meanwhile, imports of refined oil products reached 18.84 million tons, surging by 23.15% compared to the same period the previous year.

The value of Indonesia's oil imports from January to September 2022 reached US$27.17 billion, or approximately Rp407 trillion (using an exchange rate of Rp15,000 per US dollar). This comprises US$18.54 billion for refined oil imports and US$8.62 billion for crude oil imports.

The large volume of refined oil imports is partly due to the still-low production of refined oil from national refineries. Meanwhile, the demand for fuel oil and other oil products continues to increase with the rising number of vehicles.

To reduce fuel oil consumption and pollution, the government is also actively promoting the use of electric vehicles, both motorcycles and cars.