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View all search resultsAs ASEAN deepens its energy ties with Moscow, the bloc faces a volatile new reality defined by long-range drone strikes deep inside Russian territory. To safeguard its economic future, Southeast Asia must balance the allure of vast Siberian reserves against the growing vulnerability of the infrastructure that delivers them.
In the world of oil, massive reserves mean nothing if a refinery can't digest the barrel. For Indonesia, the choice between Iranian and Venezuelan crude isn't a matter of geopolitics—it’s a test of technical compatibility and bottom-line survival.
The shuttering will likely add to supply anxieties as shipping through the Strait of Hormuz, through which around a fifth of global oil consumption flows, grinds to a near-halt after vessels were attacked around it on Sunday.
The newly installed finance minister has taken the state-owned energy giant to task for failing to develop any new refineries in the seven years since it pledged to build seven such facilities, burdening the state budget and dragging the government's energy independence efforts.
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