ESDM: 150 million barrels of Russian oil to be imported gradually until end of 2026

Jakarta (ANTARA) - The Ministry of Energy and Mineral Resources (ESDM) has stated that the commitment to import 150 million barrels of oil from Russia will be carried out gradually until the end of 2026. “The imports will be done gradually,” said Deputy Minister of ESDM Yuliot when met at the Ministry of ESDM office in Jakarta on Friday. Yuliot explained that importing 150 million barrels of oil cannot be done all at once, as it requires storage or oil storage facilities domestically. The oil imported from Russia will not only be for public mobility needs but also for industrial activities, mining, and can be distributed for petrochemical raw materials if needed. Nevertheless, Indonesia’s commitment to importing crude oil from the United States (US) is still ongoing. He stated that Indonesia’s daily oil needs are around 1.6 million barrels, while domestic oil production is in the range of 600,000 barrels per day. “That means we import around 1 million barrels, more or less. If calculated (over the year), 150 million is still short. We are seeking additional supplies from other countries, including from the United States,” Yuliot said. Previously reported, the President’s Special Envoy for Energy and Environment, Hashim Djojohadikusumo, revealed that Indonesia has secured a commitment of 150 million barrels of oil from Russia at a special price, resulting from President Prabowo Subianto’s visit to Russia. If Indonesia still needs more, said Hashim, Russia will add a supply of 50 million barrels of oil to help Indonesia face economic turbulence. “So he (Prabowo) didn’t go to Moscow for leisure. He went to Moscow, met President Putin for 3 hours, and got a commitment from President Putin,” Hashim said. Thus, Russia becomes an alternative energy supplier to Indonesia amid the current global energy crisis due to the war between the United States (US)-Israel and Iran.