{
    "success": true,
    "data": {
        "id": 1663605,
        "msgid": "amid-global-conflicts-government-asks-medco-not-to-export-oil-1775634737",
        "date": "2026-04-08 14:25:00",
        "title": "Amid Global Conflicts, Government Asks Medco Not to Export Oil",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Energy",
        "summary": "In response to global geopolitical tensions, Indonesia's SKK Migas has urged oil and gas contractors like PT MedcoEnergi to redirect their export quotas to domestic refineries to secure the nation's oil supply. This involves activating special contract clauses to delay exports and negotiating fair pricing to ensure no losses for companies, with domestic absorption now reaching 98.2% of national crude production. The move is seen as more efficient and cost-effective for Pertamina compared to importing amid soaring global prices.",
        "content": "<p>Jakarta, CNBC Indonesia - The Special Task Force for the\nImplementation of Upstream Oil and Gas Business Activities (SKK Migas)\nhas requested Oil and Gas Contractors (KKKS), such as PT MedcoEnergi, to\nredirect their oil export quotas to domestic refineries. This is an\neffort to secure domestic oil supplies amid global geopolitical\nturmoil.<\/p>\n<p>SKK Migas Head Djoko Siswanto explained that they have been working\nto realise the securing of domestic oil supplies. The government is\nactivating special clauses in company contracts to postpone the delivery\nschedule of crude oil to foreign markets.<\/p>\n<p>\u201cMedco is just waiting for the letter from the minister (Minister of\nEnergy and Mineral Resources, Bahlil Lahadalia). I have actually sent a\nletter stating that in the export contract between us and Medco\u2019s\nforeign buyer, if the government needs it, the delivery can be postponed\nto the following year,\u201d Djoko said when met at the Ministry of Energy\nand Mineral Resources office in Jakarta, quoted on Wednesday\n(8\/4\/2026).<\/p>\n<p>This effort is being carried out through business negotiations, as\nthe government has not issued an official export ban this year.<\/p>\n<p>Regarding the crude oil selling price mechanism for domestic\nrefineries, Djoko mentioned that Medco is requesting a fair price\nadjustment so that the transaction does not cause losses to the\ncompany.<\/p>\n<p>\u201cNegotiation. Medco wants no gain no loss, meaning if the price in\ntheir contract is, for example, ICP plus 1-2 dollars, then Pertamina\nalso 1-2 dollars,\u201d he explained.<\/p>\n<p>The scheme for purchasing oil from domestic supplies is considered\nfar more efficient and beneficial for Pertamina compared to sourcing\nfrom abroad. This is because global crude oil prices are surging sharply\ndue to escalating global geopolitics.<\/p>\n<p>Thanks to negotiation efforts and the redirection of supplies from\nvarious oil and gas contractors, the absorption of national crude oil\nproduction into domestic refineries has now surged. The government notes\nthat almost all of Indonesia\u2019s current oil lifting or supply is\nprioritised for processing independently in the country.<\/p>\n<p>\u201cIt\u2019s improving, it\u2019s improving. 98.2% (domestic oil absorption into\nrefineries), if I\u2019m not mistaken,\u201d he emphasised.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/amid-global-conflicts-government-asks-medco-not-to-export-oil-1775634737",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}