Indonesia's Oil Imports Tend to Increase Until September 2023

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Adi Ahdiat 30/11/2023 13:00 WIB

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According to BPS data, Indonesia's total oil import volume (crude oil and oil products combined) in September 2023 reached 4.08 million tons, a roughly 10% increase compared to September of the previo

Indonesia's Monthly Crude Oil Import Volume (January 2019-September 2023)

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Indonesia's Monthly Crude Oil Import Volume (January 2019-September 2023)

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According to data from the Central Statistics Agency (BPS), in September 2023 Indonesia imported 1.88 million tons of crude oil, a 29% increase year-on-year (yoy).

During the same period, imports of oil products decreased by 2% (yoy) to 2.2 million tons.

Thus, Indonesia's total oil import volume (combined crude oil and oil product imports) in September 2023 reached 4.08 million tons.

This figure is approximately 10% higher than September of the previous year (yoy).

Cumulatively, from January to September 2023, Indonesia's total oil import volume reached 32.8 million tons.

This amount increased by 9% compared to January-September 2022 (cumulative-to-cumulative/ctc).

Broken down by type, from January to September this year, the volume of crude oil imports reached 13.3 million tons, an increase of 18.5% (ctc).

Meanwhile, the volume of oil product imports reached 19.5 million tons, an increase of 3.4% (ctc).

This upward trend in oil imports is inseparable from Indonesia's declining oil production and increasing consumption.

According to data from the Ministry of Energy and Mineral Resources (ESDM), Indonesia's crude oil production has been steadily declining over the past decade, reaching a record low in 2022.

On the other hand, consumption of fuel oil (BBM) has tended to increase, particularly the consumption of Pertalite (RON 90) fuel, which reached a record high in 2022.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia's Oil Imports Tend to Increase Until September 2023

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