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View all search resultsRI meets crude lifting target for first time in years, claims Bahlil
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Energy and Mineral Resources Minister Bahlil Lahadalia waves before the Twilight Parade on Oct. 25, 2024, at Pancasila Field, Military Academy, Magelang, Central Java, (Antara Foto/Muhammad Adimaja)
T
he Indonesian oil industry has met its crude lifting target set in the 2025 state budget, marking the first time the country managed to do so in almost a decade, while gas output failed to meet the goal.
Energy and Mineral Resources Minister Bahlil Lahadalia revealed in a press conference on Thursday that oil production in 2025 amounted to 605,300 barrels per day (bpd), marginally surpassing the budget target of 605,000 bpd.
“Our lifting, praise be to God, has reached the target, and has even exceeded it, albeit just a little,” claimed Bahlil.
He went on to say that oil lifting targets, set in every year’s state budget plan, had not been met since 2016, when realized production touched 829,000 bpd, well within the target range of 800,000 to 830,000 bpd stipulated for that year.
The figure dropped to a low of 579,000 bpd in 2024, falling far short of the 635,000 bpd target set for the year.
The Indonesian government is looking to increase lifting gradually, gunning for 1 million bpd in 2030. Domestic oil demand currently amounts to between 1.5 million and 1.6 million bpd.
Despite meeting the targeted oil output volume, the industry failed to deliver the planned amount of income for the state. Booked under the nontax revenue component of the budget plan, revenue from the oil and gas sector came in at only Rp 105.4 trillion (US$6.26 billion) in 2025, far below the Rp 125 trillion goal.
