The increase in world crude oil prices has an impact on retail fuel prices and has the potential to increase the subsidy budget. Optimizing domestic biofuels can reduce imports of crude oil and fuel.
The following article was translated using both Microsoft Azure Open AI and Google Translation AI. The original article can be found inOne of the storage tanks at the Integrated Fuel Terminal in Balongan, Indramayu Regency, West Java, was seen on Tuesday . The BBM terminal, which is under PT Pertamina Patra Niaga, is adjacent to PT Kilang Pertamina Internasional Refinery Unit VI Balongan.
or fuel oil. One of them is by optimizing the use of biofuels. The reason is, currently the price of crude oil has touched the level of 90 US dollars per barrel or the highest since November 2022.is an alarm for Indonesia which is still dependent on imports of crude oil and fuel oil . Of the total national fuel consumption, as much as 60 percent is met through imports in the form of crude oil or fuel.
According to Daymas, a greater effort is needed to achieve the target, particularly in terms of exploration."On one hand, exploration activities do have high risks. However, the government needs to take these risks with all necessary mitigations in order to achieve the production target of 1 million barrels per day by 2030," he said.
Regarding the movement of global oil prices, Director General of Oil and Gas at the Ministry of Energy and Mineral Resources Tutuka Ariadji stated that they are continuing to monitor price movements. According to him, predictions of oil prices are not always on the rise. There is still the potential for oil prices to decrease or remain low.