The World's Competition for Oil Is Real! Indonesia Nearly Becomes a Victim

Jakarta — The Minister of Energy and Mineral Resources, Bahlil Lahadalia, revealed that Indonesia nearly became a victim due to global competition over oil supplies, following escalating geopolitical tensions in the Middle East.

Bahlil disclosed that an incident involving the detention and diversion of two oil cargo ships imported from Singapore had occurred. The shipment had been purchased by PT Pertamina (Persero) through intermediary traders. The incident received serious government attention to ensure the security of national energy supplies, particularly ahead of the Eid al-Fitr 2026 period.

He explained that both oil cargo ships, which had already entered Indonesian territorial waters, were suddenly ordered to turn back by the sellers.

“Three or four days ago we purchased oil from Singapore, it was despatched by Pertamina through traders, it had already entered Indonesian waters, and then we were ordered to turn back both cargo ships,” Bahlil stated during a Full Cabinet Session at the State Palace on Friday, 13 March 2026.

According to him, this occurred because of intense competition in the global energy market, which has led to disregard for normal trade rules.

Supply constraints amid high demand have led intermediaries to divert goods to other buyers willing to pay higher prices.

“Now the economy regarding oil matters — normal legal principles no longer apply. Whoever has the money buys it, because this commodity is scarce,” he added.

In response, the government and Pertamina took firm action by filing official complaints and threatening legal action.

Thanks to this firm stance, which was also directed by the President, the sellers eventually relented and agreed to return both oil cargo shipments to Indonesia.

“For the two ships, we coordinated with Pertamina and filed complaints, and by 18 March both cargoes will be returned, sir. If not, we will sue,” he asserted.