Indonesia Secures 150 Million Barrels of Russian Crude Oil: What's the Price?
Indonesia’s Special Presidential Envoy for Energy and Environment, Hashim Djojohadikusumo, stated that Indonesia will receive 150 million barrels of crude oil from Russia. This supply is obtained at a special price that has already been agreed upon.
The agreement on the price is the result of President Prabowo Subianto’s working visit to Russia. The cooperation forms part of efforts to meet national energy needs.
During the visit, President Prabowo met directly with President Vladimir Putin. The meeting between the two leaders ultimately produced an agreement for the procurement of crude oil for Indonesia.
“Indonesia now has a commitment from the Russian government; we can store 150 million barrels in Indonesia to face economic turbulence issues,” Hashim said during the Economic Briefing 2026 event at Menara Patra Jasa, Jakarta, quoted some time ago.
Hashim explained that initially, in the meeting with Putin, Russia agreed to send 100 million barrels at a special price. However, Russia will add 50 million barrels for Indonesia to address global turbulence.
“He (Prabowo Subianto) went to Moscow, met President Putin for 3 hours, and received a commitment from President Putin that the 100 million barrels of oil will be sent to Indonesia soon. 100 million barrels at a special price. And if Indonesia needs more, it has been added by 50 million,” he stated.
The agreement with Russia regarding the black gold commodity serves as an effort for domestic energy resilience, particularly against the impact of the war in the Middle East, which raises concerns about global oil supplies.
On a different occasion, Deputy Minister of Energy and Mineral Resources Yuliot Tanjung explained that the government is currently preparing a regulatory umbrella related to the scheme to be used. He mentioned that there are two options being studied: directly through state-owned enterprises (BUMN) or through the Public Service Agency (BLU) scheme.
“Well, this commitment to import oil from Russia was just negotiated yesterday and has been agreed that the total we will import from Russia is around 150 million barrels to meet our needs until the end of the year,” he said when met at the Ministry of Energy and Mineral Resources office, Jakarta, Friday (24/4/2026).
His side assured that the delivery process of the oil will not be done all at once, but sent in several stages. This is due to limitations in the capacity of domestic oil storage tanks to accommodate such a large volume simultaneously.
“No, the scheme can’t be all at once. If all at once, we would need oil storage in the country. It will be done as phased imports,” Yuliot said.
In addition to procuring crude oil, Indonesia is also exploring LPG imports from Russia as a diversification of supply sources. However, Yuliot emphasised that this cooperation does not nullify Indonesia’s energy commitments with the United States, which has been supplying around 60% of national LPG needs.
“This morning I also had a meeting with the Foreign Ministry and also with some ambassadors; regarding that commitment, the Pertamina team is also currently in the United States. So, which companies can supply us quickly,” he revealed.