DIGIVESTASI - Indonesia has incurred losses of up to Rp 500 trillion due to oil imports. This statement was made by the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia while delivering a speech at the 65th anniversary celebration of MKGR at the Shangri-La Hotel in Jakarta.

According to information gathered by detikFinance, Bahlil explained that the national oil consumption currently averages around 1.6 million barrels per day. However, Indonesia’s oil production, or lifting, is currently very low.

Domestic oil production is only around 590,000 to 600,000 barrels per day, forcing Indonesia to import around 1 million barrels per day.

Bahlil added, “By allocating around Rp 500 trillion every year to purchase oil, this is also one of the factors contributing to the depreciation of the Rupiah against the dollar,” as reported by detikFinance on Sunday (January 19, 2025).

This year, according to the macroeconomic assumptions in the state budget (APBN), the target for crude oil lifting is 605,000 barrels per day, while the target for gas lifting is set at 1,005,000 barrels of oil equivalent per day.

Bahlil mentioned that President Prabowo Subianto has set an ambitious target to achieve 1 million barrels per day of oil lifting by 2028-2029.

Bahlil emphasized that by 2029, Indonesia aims to stop importing oil. To achieve this, oil lifting must increase to 1 million barrels per day. "We are targeting, according to the President's directive, to reach 1 million barrels per day by 2028-2029 so that we no longer import oil by 2029," he said.

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