Antara News·Indonesia·Monday, October 5, 2026 at 07:10 AM UTC

Indonesia hunts overseas fuel surpluses to secure national stocks

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Putu Indah, Raka Adji

Jakarta (ANTARA) - The Indonesian Ministry of Energy and Mineral Resources stated that it is actively seeking countries with surplus fuel supplies to secure Indonesia's national stock.

“What we are doing now is hunting to keep the national stocks secure,” the ministry's Director General of Oil and Gas, Laode Sulaeman, said during the 2026 Regional Inflation Control Coordination Meeting, monitored online on Monday.

Laode explained that this approach differs from the previous procurement method, which relied on tenders. The shift was prompted by a lack of tender participants after the outbreak of conflict in the Middle East.

He stated that Indonesia lost 25 percent of its import sources after war broke out between the United States, Israel, and Iran in early 2026.

“Previously, Pertamina held tenders, but now there are virtually no bidders. Thus, we have to look for countries that have surplus stocks,” he said.

As a result, Laode noted that purchasing fuel this way could drive prices higher than standard procurement methods.

“We have to find countries with excess stock. We buy at prices that could potentially be higher than standard procurement,” Laode said.

Nevertheless, he emphasized that the "hunting" strategy allows Indonesia to maintain its national fuel reserves for the next 18 to 20 days.

Energy and Mineral Resources Minister Bahlil Lahadalia earlier confirmed that national fuel reserves remain within the minimum standard of 18 to 21 days amidst ongoing geopolitical turmoil.

Bahlil affirmed that the government also guarantees subsidized fuel prices will remain unchanged through the end of the year, following direct orders from President Prabowo Subianto.

Meanwhile, non-subsidized fuel prices will be adjusted, as they are subject to market fluctuations.

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