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View all search resultsIndonesia to store imported 'Russian' crude as national reserves
The government has imported around 770,000 barrels of Russian crude oil, according to a Bloomberg report, though the energy ministry says further verification is necessary to determine the composition and source of the fuel that makes up the so-called Indonesia blend.
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The Liberian-flagged oil tanker Ice Energy (left) transfers crude oil from the Russian-flagged oil tanker Lana (second left) on May 29, 2022, in the waters off Karystos on the Greek island of Euboea, also known as Evia. (AFP/Angelos Tzortzinis)
T
he Energy and Mineral Resources Ministry has disclosed that instead of refining into gasoline or other fuels for domestic consumption, the government plans to hold imported Russian crude oil as part of its strategic energy reserves, though it had yet to select a suitable storage facility as assessment was underway.
The ministry’s statement comes after Bloomberg reported that nearly 770,000 barrels of crude, valued at US$75 million, had been shipped aboard the tanker Sierra from Kozmino Port southeast of Vladivostok to Balikpapan Port in East Kalimantan, citing customs data compiled by Big Trade Data.
Read also: RI secures 150 million barrels of Russian oil
The ministry said it was still verifying the origins of the imported crude.
“I think we have to check first where it came from, whether there was oil from Russia and how much,” deputy energy minister Yuliot Tanjung said on Thursday, as quoted by Kompas.com.
He explained that the shipment of "Indonesia blend” carried crude from multiple sources, and would therefore require further verification on composition and origin.
Asked whether the country could face sanctions from the United States over importing Russian oil, Yuliot declined to comment.
