Indonesia's Energy Revenue Hits 40% of 2026 Budget Target, Says Minister

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TEMPO.CO, Jakarta - Indonesian Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia has stated that the Non-Tax State Revenue (PNBP) in the energy sector has reached 40 percent of the target in the 2026 State Budget. "In the first quarter of 2026, PNBP in the energy sector has reached approximately 40 percent," said Bahlil, as quoted from Antara, on Thursday, May 21, 2026.

Based on Law Number 17 of 2025 concerning the State Budget for the 2026 Fiscal Year, the target revenue from natural resources is Rp236.614 trillion. Revenue from natural resources includes revenue from oil and natural gas resources and non-oil and gas natural resources.

Bahlil explained that this achievement was influenced by the increase in energy commodity prices. The surge in energy commodity prices was triggered by the conflict between the United States-Israel and Iran.

According to Bahlil, the contribution of the upstream oil and gas industry players to PNBP is quite significant. "They are able to create job opportunities, they are able to create a multiplier effect," said Bahlil.

On another occasion, Minister of Finance Purbaya Yudhi Sadewa noted that non-tax state revenue (PNBP) grew by 11.6 percent, reaching Rp171.3 trillion.

Based on Purbaya's presentation, the performance of natural resources PNBP grew by 3.9 percent annually to Rp83.1 trillion during January-April 2026 compared to the same period last year of Rp80 trillion. This growth was driven by the increase in mineral prices, such as nickel, copper, gold, silver, and aluminum.

The increase in prices also applies to crude oil. The Ministry of Energy and Mineral Resources (ESDM) set the average Indonesian Crude Price (ICP) in April 2026 at US$117.31 per barrel. This price soared by US$15.05 compared to March 2026, which was recorded at US$102.26 per barrel.

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