PertaminaHO1-scaled
State energy company PT Pertamina is awaiting the government's direction in regards with plan to increase oil and gas imports from the U.S. in an effort to balance the trade with Uncle Sam which is in deficit.
"Currently, we still have a contract for the procurement of LNG from a U.S. company. We will see later what the government's direction is while we will also of course review it internally," Pertamina Vice President for Corporate Communications, Fadjar Djoko Santoso, said as quoted by Katadata.co.id on Thursday, April 10, 2025.
U.S. President, Donald J. Trump has postponed the high import tariff policy imposition on dozens of countries, including Indonesia, for 90 days while opening the door to negotiations.
Coordinating Minister for the Economy, Airlangga Hartarto, earlier cited that the government would take a number of strategic policies as a negotiation effort in response to the tariffs imposed by the U.S., such as buying machine products and importing LPG and LNG from the U.S.
Similarly, Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, said Indonesia will increase imports of energy commodities from the U.S., one of which is crude oil.
"We know that our oil imports are quite large. We are calculating so that oil becomes one of the commodities that we can buy from the U.S.," Bahlil said on Wednesday, April 9, 2025.
He said that Indonesia's crude oil imports currently mostly come from Singapore, the Middle East, Africa and Latin America. He said the portion of oil imports from the U.S. is only 4 percent of the total.
"Only 4 percent, we will exercise so that it can reduce the trade balance deficit," Bahlil said.
He also conveyed the plan to increase the portion of oil imports from the U.S., which has the potential to reduce the volume or amount of imports from other countries.
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