Indonesia imports 4% of its oil consumption (61,829 barrels per day in 2016).
How much oil does Indonesia import?
Due to this decline in production and a rapid increase in domestic consumption, Indonesia is now a net importer of oil. Bank of Indonesia reports that as of December 2018, oil and gas exports value amounted to USD 1.3 billion while imports amounted to USD 3 billion.
Where does Indonesia import oil from?
Indonesia Crude Oil: Imports was reported at 216.500 Barrel/Day th in Dec 2019.
Buy Selected Data.
|Indonesia (Barrel/Day th)||216.500 2019|
|Iran (Barrel/Day th)||0.000 2019|
|Italy (Barrel/Day th)||1,274.107 2019|
|Ivory Coast (Barrel/Day th)||46.200 2011|
Does Indonesia need to import oil?
Despite its growing oil demand, Indonesia’s oil and natural gas sectors continue to be an important part of the country’s economy. Indonesia imports oil products, particularly gasoline, as a result of insufficient refining capacity to meet the growing demand for oil products.
What are the major imports of Indonesia?
Main imports products are: oil and gas (around 17 percent of total imports), nuclear reactions, boilers, mechanical appliances (19 percent); iron and steel (5.4 percent), organic chemical materials (4.8 percent) and vehicles (4.5 percent).
Is Indonesia rich in oil?
Indonesia has significant energy resources, starting with oil – it has 22 billion barrels of conventional oil and gas reserves, of which about 4 billion are recoverable. That’s the equivalent of about 10 years of oil production and 50 years of gas.
What is palm oil used for in Indonesia?
Crude palm oil is the main feedstock for biofuel in Indonesia. To ensure a steady market for its palm oil, as well as to improve its energy independence, the Indonesian government had rolled out a plan to gradually increase the biofuel mix in its biodiesel.
What are the major natural resources of Indonesia?
Indonesia abounds with natural resources. It is the world’s largest exporter of steam coal, refined tin and (until the enforcement of the export ban earlier this year) nickel ore. It is also a leading exporter of gold, bauxite, lead, zinc and copper. Its potential in renewable resources is also huge.
When was Indonesia oil discovered?
In Indonesia, Dutch officials noted there were 53 oil seepage locations across Indonesia in 1869. The first oil well drilling in Indonesia began in 1871 in West Java. Several years later, oil was discovered in Pangkalan Brandan in Sumatera in 1885 and Sanga-Sanga in East Kalimantan in 1892.
Does Indonesia have oil and gas?
In 2018 and 2019, investment in Indonesia’s oil and gas industry reached around $12.3 billion and $12 billion respectively, decreasing from around $16 billion in 2016. Indonesia still has significant reserves of oil and gas but needs substantial investment and technology for the exploration.
Does Malaysia have oil?
Malaysia is one of the key oil and gas producers in the Asia-Pacific region with an average daily production of over 1.7 million barrels of oil equivalent in 2018.