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View all search resultsLower US tariffs clincher for $15.5b energy import deal, minister says
Indonesia's negotiation team has proposed a US$15.5 billion oil and gas import deal as part of ongoing tariff talks in Washington, though whether this comes to pass is dependent on Washington lowering the country's current tariff rate of 32 percent.
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The Oyong wellhead platform stands in the Sampang Block, located off the coast of East Java in the Madura Strait, in this undated photo. (SKK Migas/SKK Migas)
T
he government could cancel a plan to import oil and gas worth up to US$15.5 billion from the United States if Washington maintains its 32 percent “reciprocal tariff” on Indonesian goods, the energy minister has said.
The purchase plan is part of a broader trade package Jakarta is negotiating with Washington, according to Energy and Mineral Resources Minister Bahlil Lahadalia, who said the proposed imports would proceed only if both sides reached a deal to cut tariffs.
“We’ve allocated around $10 billion to $15 billion for energy purchases from the US, provided the tariff is lowered. If not, then there is no deal,” Bahlil told reporters on Monday, as quoted by Tempo.co.
The country recorded oil and gas imports totaling $36.27 billion last year, including around $10 billion of crude oil and $25.92 billion of refined products, according to data from Statistics Indonesia (BPS).
Despite substantial energy imports overall, US crude oil exports to Indonesia totaled just $430.9 million.
The US meanwhile supplied 3.94 million tonnes of liquefied petroleum gas (LPG) in 2024, valued at $2.03 billion, more than half the 6.89 million tonnes in total imports.
Bahlil said the final decision on whether to proceed with energy imports from the US would depend on the outcome of ongoing negotiations.
