Bahlil Claims Indonesia's Energy Stock is Secure Despite Global Impacts

Energy and Mineral Resources Minister Bahlil Lahadalia has claimed that Indonesia’s energy stocks are secure, even as nearly every country worldwide is affected by the war between the United States and Iran. He stated that Indonesia’s oil reserves still meet the national minimum standard of 21-28 days. However, he emphasised that this does not mean fuel oil or BBM in Indonesia will run out in 28 days. “Even though almost the entire world is affected, we give thanks to Allah that in our beloved country, BBM—whether petrol, diesel, or LPG—is fulfilled,” Bahlil said in Central Java on Thursday (26/3). He is confident that oil reserves will be redistributed because the government is optimising state-owned oil refineries. Furthermore, Bahlil said that Indonesia’s imported crude oil supply is processed in those refineries. In addition, he mentioned that alternatives have already been sought for oil imports. “We know that 20 percent of our crude comes from the Strait of Hormuz. Now, we have switched to other places and the supplies,” he said. Meanwhile, the Philippine government has officially declared a national energy emergency due to global supply chain disruptions stemming from the conflict in the Middle East. The announcement was made on Tuesday (25/3). President Ferdinand Marcos Jr. has signed an order to declare a state of emergency and activate a national response to restore energy supply stability and prevent economic impacts from rising fuel prices. The Philippines imports nearly 26 percent of its oil consumption from the Middle East. The Minister of Energy and Mineral Resources, Bahlil Lahadalia, has guaranteed that subsidised fuel oil (BBM) prices will not change in the near future. According to him, the government’s decision demonstrates its commitment to accelerating the implementation of the national energy transition agenda in a more coordinated manner. Bahlil Lahadalia stated that the government plans to increase the national fuel oil (BBM) storage capacity from around 25-26 days to 90 days, or the equivalent of three months.