Singapore, Indonesia's Largest Supplier of Fuel, Import History Revealed

Data from Indonesia's Central Statistics Agency (BPS) reveals that Singapore is Indonesia's largest supplier of crude oil, which is processed into fuel oil (BBM).

For the past six years, Indonesia's crude oil imports from Singapore have consistently exceeded 10 million tons annually.

In 2017, imports amounted to 15.84 million tons, valued at US$8.6 billion.

The following year, crude oil imports increased significantly to 17.85 million tons, valued at US$11.85 billion.

However, subsequent years saw a decline, as shown in the graph. The latest data from 2022 shows 10.94 million tons, an increase from 2021, valued at US$10.38 billion.

(See also: 10 Countries with the Largest Import Contributions to Indonesia as of August 2024)

According to *Katadata*, Minister of Energy and Mineral Resources Bahlil Lahadalia expressed confusion over Singapore supplying 60% of Indonesia's fuel oil imports.

"Singapore doesn't have oil, yet it supplies 60% of Indonesia's imports. I don't understand the theory behind this," Bahlil said in Jakarta, as quoted by *Antara* on Thursday (12/12/2024).

In response to this situation, Bahlil stated that Indonesia will build an oil reserve storage facility on an island near Singapore. This aims to enable Indonesia to achieve energy sovereignty, as targeted by President Prabowo.

"We will build a storage facility on an island near Singapore, with a storage capacity of approximately 30-40 days," he said.

Bahlil stated that the storage facility can accommodate various types of oil, and Pertamina will be able to purchase it at a lower price.

(See *Katadata*: Bahlil Confused by Indonesia's 60% Fuel Oil Imports from Singapore, Which Doesn't Have Oil)