Bahlil estimates Russian oil shipment to arrive in 1–2 weeks

Jakarta (ANTARA) - Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia estimates that imported crude oil from Russia will be shipped within the next 1–2 weeks, after finalising the shipping technicalities.

“Now we are discussing the shipping techniques. It could be possible within one or two weeks,” Bahlil stated when met at the Ministry of ESDM office in Jakarta on Monday.

He conveyed that Indonesia and Russia have so far reached an agreement on the purchase of crude oil from Russia. The contract has already been signed, and now they are just awaiting the completion of discussions on the shipping technicalities.

“The deal is done, the contract is signed,” Bahlil said.

This step is part of the realisation of the commitment to import 150 million barrels of oil from Russia, which will be carried out gradually until the end of 2026, resulting from President Prabowo Subianto’s visit to Russia.

On Friday (24/4), Deputy Minister of ESDM Yuliot stated that they are preparing regulations or a legal framework to regulate the plan to import 150 million barrels of crude oil from Russia.

There are two options being considered by the government for importing the 150 million barrels of crude oil from Russia.

The first option is to import it directly through state-owned enterprises (BUMN), and the second option is to import through public service agencies (BLU).

If using the first option, Yuliot said there are certain consequences if BUMN imports from Russia, considering that BUMN already has oil procurement contracts with other parties.

Therefore, another option being considered is to import through BLU. He hopes for conveniences, including financing, if importing through BLU.

“This is also being discussed between ministries/institutions. That also with business entities, including how, at the time of import, which route will be used,” Yuliot said.