The Indonesian Government has released preliminary figures on oil, gas, coal and electricity for 2023. Coal and lignite production increased by almost 13% in 2023, reaching 775 Mt (well above the country’s target for 2023 which was set at 695 Mt). The coal and lignite production target for 2024 has been set at 710 Mt. Oil production decreased slightly (-1%), from 612 kb/d to about 606 kb/d in 2023, while natural gas production increased very slightly (+0.7%) to reach 960 kboe/d. Both oil and gas production were below Indonesia’s target for 2023 (660 kb/d and 1,100 kboe/d, respectively).
In addition, electricity consumption per capita increased by nearly 10% in 2023 to reach 1,285 kWh (still below Indonesia’s 2023 target of 1,336 kWh/cap). The target for 2024 has been set at 1,408 kWh. Indonesia installed nearly 540 MW of new renewable capacity (including hydropower and biomass) in 2023, reaching a total installed renewable capacity of nearly 13.2 GW.