Why Indonesia's Oil and Gas Imports Surged Nearly 50% in July

Statistics Indonesia (BPS) data revealed a sharp surge in oil and natural gas imports to Indonesia in July 2026, marking a nearly 50 percent increase year-over-year. According to BPS figures, imports worth US$1.25 billion more than the previous July, bringing the total value to US$3.77 billion. Deputy of Distribution and Service Statistics at BPS, Ateng Hartono, noted that the overall import value for July 2026 rose by 27.02 percent to US$26.09 billion compared to the same period in 2025.

The sharp increase in import value, however, outpaced the growth in import volume, which only escalated by 15.44 percent. Ateng Hartono attributed this surge to a significant rise in global oil prices, emphasizing that the higher import costs were primarily driven by oil and gas product prices. Specifically, oil-derived products saw a 49.11 percent increase, amounting to US$48.3 million, while crude oil imports jumped by 51.68 percent, reaching US$406.3 million.

BPS data further highlighted that from January to July 2026, oil and gas imports increased by US$7.39 billion or 40.24 percent. This growth was mainly fueled by a surge in crude oil imports, which rose by 41.81 percent to US$2.075 billion, and oil-derived products, which increased by 39.66 percent, totaling US$5.319 billion.