In an official statement, the Ministry of Energy and Mineral Resources (ESDM) claims that Indonesia’s expansion of 20% biodiesel fuel (B20) has reached 80% of its target.
The expansion involves the mandatory use of B20 as part of an effort to reduce the export of crude oil, which the ministry claims is a major factor of the festering current account deficit and the nation’s weak currency (rupiah).
The ministry’s oil & gas Director General, Djoko Siswanto stated, “In our monitoring of the B20 expansion achieved by Pertamina, [an Indonesia-based oil & gas corporation,] 80 percent of the target for the current period, I am optimistic that it can be 100 percent by the end of 2018.”
The expansion also outlines its intentions to utilise the nation’s mass production of palm oil, as its price on the international market has decreased. As of 2018, the ministry claims that Indonesia is the largest palm oil producer in the world.