Indonesian Political, Business & Finance News

Bahlil Cites Positive Developments from Middle East as Strait of Hormuz Opens and Closes

| Source: CNBC Translated from Indonesian | Energy
Bahlil Cites Positive Developments from Middle East as Strait of Hormuz Opens and Closes
Image: CNBC

Jakarta — Indonesia’s Minister of Energy and Mineral Resources, Bahlil Lahadalia, has indicated fresh developments emerging from the Strait of Hormuz, where Iran has reportedly implemented a selective opening and closing policy for the waterway, excluding Israel and the United States.

Under this policy, according to Bahlil, vessels detained at the Strait of Hormuz could be negotiated to resume passage. “We have received somewhat positive news regarding the Strait of Hormuz now implementing an opening and closing policy. This means vessels and countries other than Israel and America can now engage in communication. This is actually a positive development,” Bahlil stated during a meeting at the Ministry of Energy and Mineral Resources office in Jakarta on Tuesday, 17 March 2026.

Bahlil revealed that Indonesian oil tankers currently trapped at the Strait of Hormuz remain in negotiation status. “Negotiations are ongoing. There is a long queue, these are under negotiation. Please give us time. Still negotiating, still negotiating,” he added.

However, Bahlil expressed concern that the escalating geopolitical conflict has yet to show signs of resolution. “The geopolitical situation so far shows no indication that the Middle East conflict will come to an end,” he explained.

On a separate matter, Bahlil affirmed that fuel, LPG, and electricity supplies for Indonesia remain controlled, secure, and consistent with national minimum stock standards. According to his records, new LPG supplies will arrive by month’s end, whilst coal supplies for state-owned PLN power plants average 14 to 15 days.

The government is currently examining measures for fuel consumption reduction. “This is being assessed, currently being assessed, regarding whether we need work-from-home arrangements. However, in my view, all possibilities could occur, the important thing is that fuel conservation is critical. In addition to reducing imports, this also reduces expenditure for all Indonesians,” Bahlil stated.

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