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View all search resultsIndonesia secures Russian crude imports, minister says
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An undated photograph shows expansion work at Pertamina's Balikpapan refinery complex in Balikpapan, East Kalimantan.
T
he government has announced that Indonesia will soon begin importing crude oil from Russia as part of a broader strategy to diversify energy supplies.
Energy and Mineral Resources Minister Bahlil Lahadalia confirmed that an agreement had been reached in negotiations following a bilateral visit to the Kremlin earlier this week where he met with his Russian counterpart.
“In my meeting with the Russian government, it was agreed that we will purchase crude oil from Russia,” Bahlil said at the energy ministry in Jakarta on Friday.
He declined to specify details, such as on the agreed import volumes or pricing, and stressed that domestic crude stocks remain sufficient.
"I can assure you that crude oil is available [to cover] all our needs, and we must seek to ensure that the people's needs are met," he said.
Beyond crude, Jakarta is also eying Russian supplies of liquefied petroleum gas (LPG) as domestic production, just 1.6 million tonnes annually, falls far short of consumption, which is projected at 10 million tonnes in 2026, driven by industrial demand of 1.5 million tonnes annually.
Talks on the LPG deal with Russia were in the final stages, Bahlil said. "Crude shipments could begin within these months. LPG is still being finalized. The sooner the better."
