Indonesia's average daily oil imports of millions of barrels exacerbate foreign exchange imbalances, pushing downstream and energy transformation to break the situation.

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Indonesia's average daily import of 1 million barrels of oil has exacerbated the foreign exchange imbalance, and the government has increased the added value of resources by accelerating the downstream of energy, and has promoted the fuel-for-electric motorcycle program to reduce dependence on fossil energy. The two-pronged approach of cross-sectoral collaboration and new energy transformation aims to solve the dilemma of energy security and reconstruct the path of sustainable economic growth.

Indonesia's daily oil demand is as high as 1.6 million barrels, domestic production can only meet 600000 barrels, which means that Indonesia needs to import 1 million barrels of oil per day. This huge import volume has a significant impact on Indonesia's trade, foreign exchange and balance of payments.

To address this challenge, the Indonesian Minister of Energy and Mineral Resources emphasized that accelerating the development of downstream industries is essential to achieve sustainable economic growth. He pointed out that investment in downstream industries can not only promote economic growth, but also an important strategy to realize national energy sovereignty. To this end, the Ministry of Energy and Mineral Resources and the Ministry of Investment and downstream Industries need to strengthen coordination to jointly promote the development of downstream industries.

in the minerals and coal sector, the minister praised the downstream roadmap for 28 commodities drawn up by the Ministry of Investment. This roadmap aims to increase the value of the entire industry chain by guiding investment to the downstream processing of these commodities through a clear development path.

In addition, the Indonesian government is actively promoting the energy transition and encouraging the use of new and renewable energy to replace fossil energy. For example, the Government is introducing a scheme to encourage owners of fuel-powered motorcycles to switch to electric ones. Considering that the number of two-wheeled vehicles in Indonesia is as high as 0.12 billion, this plan is expected to significantly reduce fuel consumption, thereby reducing dependence on imported oil.

In summary, when facing the challenges of large oil imports and the impact of foreign exchange balance, Indonesia is seeking a new path to achieve sustainable economic growth and energy sovereignty by accelerating investment in downstream industries and promoting energy transformation.

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: Indonesia's oil imports have greatly affected its foreign exchange balance. The government is seeking new ways for sustainable economic growth and energy sovereignty by accelerating investment in downstream industries and promoting energy transformation.

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