Indonesian energy minister Bahlil Lahadalia
Reality bites for Indonesia’s oil ambition
A more pragmatic approach has seen the country reverse its production decline in 2025 but its 1m b/d target still seems out of reach
Indonesian oil production is on track to record its first annual increase in almost a decade. Government figures indicate output in the first ten months of the year averaged 607,000b/d, up from roughly 580,000b/d in 2024 and exceeding the 2025 target of 605,000b/d. It is a rare bright spot for a sector long characterised by managed decline, and Jakarta has highlighted the result as the first time production has exceeded an annual target since the late 2000s. The improvement demonstrates the effect of sustained operational effort, not a change in trajectory. This year’s gains stem largely from intensified management of ageing fields rather than fresh volumes coming online. The result is a mod
Also in this section
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
9 March 2026
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
6 March 2026
The March 2026 issue of Petroleum Economist is out now!
6 March 2026
After Europe’s rapid buildout of floating LNG import capacity, Exmar CEO Carl-Antoine Saverys says future growth in floating gas infrastructure will increasingly be driven by developing markets as lower prices, rising energy demand and the need to replace coal unlock new opportunities for unconventional and tailor-made solutions
