Bahlil Assures Crude Oil from Russia to be Delivered This Month

Illustration. (Photo: Dok. Antara)

JAKARTA - Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia revealed that crude oil from Russia will begin to be delivered this month.

For information, this crude import from Russia is a follow-up to the results of President Prabowo Subianto's meeting with Russian President Valdimir Putin not long ago.

"If it's for crude, it could be (sent) in these months. Insya Allah," Bahlil told the media, Friday, April 17.

Bahlil added that Indonesia not only buys crude oil, but also buys liquefied petroleum gas (LPG) from Russia. However, the delivery of LPG cannot be sent simultaneously with crude oil, because it is still in the finalization stage.

"Elpiji is still in the finalization. (Delivery) the sooner the better," he said.

When asked about the transaction price, the Chairman of the Golkar Party said that the value of oil purchases from Russia was dynamic and referred to international market movements.

"Prices will definitely be dynamic. The price will adjust to market prices and depends on our negotiations," continued Bahlil.

Previously it was reported that Bahlil and Russian Energy Minister Sergey Tsivilev on Tuesday, April 14, had a face-to-face meeting. This meeting was a follow-up to the high-level talks between President Prabowo and Russian President Vladimir Putin at the Kremlin the day before.

"Alhamdulillah, what has been agreed upon, we have obtained a fairly good result where we can get our crude reserves to increase. In addition, we will also be able to get LPG," said Bahlil in a statement to the media, Tuesday, April 14.

During the forum, Russia expressed its readiness to support Indonesia's energy resilience, including oil and gas supplies and storage.

The meeting was also attended by representatives of a number of Russian energy companies, including Rosneft, Ruschem, Zahrubesneft, and Lukoil.

Bahlil emphasized that the cooperation was explored through the intergovernmental scheme or Government to Government (G2G) and business-to-business (B2B), which is expected to provide certainty regarding the availability of national energy reserves, especially for crude oil and LPG in Indonesia.