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View all search resultsIndonesia eyes discounted Saudi crude, senior minister says
Crude oil prices rose on Monday as attacks on Saudi Arabia heightened supply concerns, offsetting the prospect of more Russian energy reaching global markets after the US eased sanctions on its diesel exports.
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Chevron Indonesia operates an offshore platform in the Sepinggan field in Makassar Strait, 37 kilometers east of Balikpapan, East Kalimantan, on April 23, 2019. (JP/Novi Adri)
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ndonesia is open to buying crude oil from Saudi Arabia, which has offered discounts to Asian buyers for November, Coordinating Downstream and Energy Transition Minister Bahlil Lahadalia said on Monday.
The government would consider “oil from any source” as long as prices are competitive, procurement is efficient and purchases comply with regulations, he said.
“Regardless of the source, oil will be a priority for the government as long as it is cost-efficient and the purchase complies with regulations,” Bahlil said on Monday, as reported by Kompas.com.
Bahlil also confirmed that Indonesia had bought crude from the United States, adding that the government was open to imports from any country offering competitive prices and complying with regulations.
Read also: No serious investors yet for 90-day oil reserve plan, govt says
Crude oil prices rose on Monday as attacks on Saudi Arabia heightened supply concerns, offsetting the prospect of more Russian energy reaching global markets after the US eased sanctions on its diesel exports.
Brent crude climbed nearly US$2 a barrel to $106.65, its highest since Sept. 15, extending a rally that has kept prices above $100 since early September.
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