Indonesia to import 150 million barrels of Russian crude

Indonesia will import 150 million barrels of crude oil from Russia this year, Deputy Energy Minister Yuliot Tanjung said on April 24, as Jakarta moves to shore up supplies following disruptions linked to the Middle East war.

The Southeast Asian economy has secured shipments of crude oil and liquefied petroleum gas (LPG) from Russia to ease domestic shortages, with details of the import mechanism still under discussion, Caliber.Az reports via foreign media.

The announcement follows President Prabowo Subianto’s meeting with Russian President Vladimir Putin in Moscow last week, underscoring closer energy cooperation between the two countries.

"It has been agreed that the total volume of crude oil which we will import from Russia is around 150 million barrels to meet our needs until the end of the year," Yuliot told reporters, adding that the government only needed to work out the import mechanism.

Indonesia, which imports roughly 1 million barrels of oil per day, is still seeking additional supplies to bridge the gap, including from the United States.

"We import about 1 million barrels per day, so we can see with this 150 million (barrels) it is still short. We are looking for additional supply from other countries, including the U.S.," he said.

Yuliot said the volume of LPG imports from Russia has yet to be finalized, as the government diversifies sourcing options.

Indonesia has also secured a deal to purchase oil and gas from the United States under the Agreement on Reciprocal Trade.

"We hope that we can meet our crude oil and domestic LPG needs from various sources," Yuliot said.

By Aghakazim Guliyev