Alleged Crude Oil Import Case Rocks Indonesia
In a shocking turn of events, the Director of the Center of Energy and Resources Indonesia (CERI), Yusri Usman, has shed light on the alleged deviation in the crude oil and fuel import business process by a state-owned company from 2018 to 2023. This revelation has sent ripples through the Indonesian economic landscape, raising concerns about potential financial mismanagement and corruption within the industry.
The Investigation Unveiled
Yusri Usman criticized the handling of the case by the Attorney General’s Office, stating that the investigation seemed overly secretive, risking potential complications down the road. During his presentation of CERI’s Year-End Notes in Jakarta on Tuesday, December 31, 2024, Yusri highlighted the ongoing probe into the sale of gas and oil shares owned by the state in the Participating Interest (PI) of oil and gas blocks managed by Regional-Owned Enterprises (BUMD).
According to Yusri, internal discussions within the company hinted at the authenticity of the search activities conducted by the Attorney General’s Office. Reports from various media outlets confirmed that since late October until mid-December 2024, the investigative team had raided the offices and residences of several executives from the state-owned company. The recent summoning of some board members for clarification at the round building on December 19, 2024, marked a significant development in the case.
The Financial Ramifications
Yusri Usman revealed that, based on insider information from CERI sources, the excessive costs incurred due to the import processes from 2018 to 2023 amounted to approximately USD 1.2 billion annually. This cumulative figure could reach a staggering USD 6 billion or around Rp 96 trillion (with the USD to IDR exchange rate at Rp 16,000). The Supreme Audit Agency (BPK) is currently in the process of verifying these figures, adding another layer of complexity to the situation.
Call for Swift Action
Expressing concerns over the potential impact on the national economy, Yusri emphasized the need for a swift escalation of the investigation to the prosecution stage to safeguard the country’s financial interests and prevent any further damage. As the nation awaits the outcome of this high-stakes inquiry, the implications of this alleged crude oil import case reverberate through the corridors of power in Indonesia, raising questions about accountability and transparency within the energy sector.
