Nigeria has strengthened its position in the global oil market after becoming Indonesia’s largest source of crude oil imports during the first half of 2026. New figures released by Indonesia’s national statistics agency, BPS, show that Nigeria supplied nearly one-quarter of the country’s total crude oil imports between January and June.
According to the data, Nigeria accounted for 24.91 percent of Indonesia’s crude oil imports during the six-month period. Angola followed with 15.41 percent, while Saudi Arabia ranked third with 13.62 percent. The figures highlight Nigeria’s growing importance as a key supplier to one of Asia’s largest economies.
Indonesia has been increasing crude purchases from African producers as part of its strategy to diversify energy supplies. The country is seeking to reduce its dependence on traditional shipping routes that pass through the Strait of Hormuz, an area that has faced security concerns following tensions in the Middle East earlier this year.
BPS Deputy Ateng Hartono explained that crude oil imports varied throughout the first half of the year. January recorded imports valued at about $1.20 million, with shipments weighing 2.52 million tons. Import volumes fell sharply in February to around 610,000 tons, while March saw a recovery to 1.56 million tons.
In April, Indonesia imported approximately 1.6 million tons of crude oil, while May shipments totaled 710,000 tons. By June, the value of crude imports had risen significantly to $1.72 million, reflecting stronger purchasing activity despite the agency not disclosing the shipment volume for that month.
The increase in imports comes as Indonesia works to strengthen its energy security. Disruptions linked to the conflict between the United States and Iran created uncertainty in global oil transportation, especially around the Strait of Hormuz, one of the world’s busiest oil shipping routes.
To reduce supply risks, Indonesia has expanded its list of oil suppliers beyond the Middle East. African producers such as Nigeria and Angola have benefited from this shift, with Nigerian crude becoming increasingly attractive due to its quality and reliable supply.
At the same time, Indonesia has also begun importing crude oil from Russia. The country’s Energy Minister, Bahlil Lahadalia, recently confirmed that the first shipment of Russian crude had arrived, consisting of about 770,000 barrels. Reports indicate that Indonesia could purchase much larger volumes in the future as it seeks to build stronger energy reserves.
According to the minister, the government’s goal is to ensure that the country has enough fuel supplies to avoid shortages and protect its economy from global market disruptions.
Overall, Indonesia’s oil and gas imports rose sharply during the period. BPS reported that total oil and gas imports climbed by 105.15 percent year-on-year to $4.56 billion in June 2026. Fuel imports during the first half of the year also increased by 38.71 percent compared with the same period in 2025.
While Singapore and Malaysia remain major suppliers of refined fuel products, Nigeria’s leading position in crude oil exports to Indonesia highlights the growing trade relationship between both countries. The development also presents an opportunity for Nigeria to strengthen its presence in Asian energy markets and generate higher export earnings as global demand continues to evolve.
