Indonesia’s fuel future - OBG

Indonesia’s fuel future

With oil and gas imports weighing on its trade balance, Indonesia is taking steps to reduce domestic demand for fuel and boost local refinery capacity. These moves come as the International Energy Agency (IEA) has released a report projecting that energy demand in the South-east Asian country is set to nearly double over the next two decades.
Imports of oil and gas for the January-August period amounted to $29.9bn, while exports stood at $21.4bn, according to data issued by the Central Statistics Agency in early October. This $8.3bn gap more than accounted for the eight-month trade deficit of $5.5bn, a bill that could become even more expensive if the rupiah continues to lose ground against the dollar. Imports are also trending up, ... Read more.

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