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Indonesia targets April start for Russian oil imports

Jakarta (ANTARA) – Indonesia aims to begin importing crude oil from Russia as early as April, as the government seeks to diversify energy supplies and reduce reliance on traditional partners amid global market disruptions.“For crude oil, shipments could start this month,” Energy and Mineral Resources Minister Bahlil Lahadalia told reporters in Jakarta on Friday.He previously underscored Indonesia’s heavy import dependence, with a daily deficit near one million barrels as domestic output stands around 600,000 barrels per day against consumption of 1.6 million.“It should be noted that we require about 300 million barrels annually,” Lahadalia said at Merdeka Palace, adding the government will pursue all opportunities aligned with national interests.Beyond crude, Indonesia has opened negotiations to import liquefied petroleum gas, or LPG, from Russia as part of broader efforts to secure alternative supply channels.The share of LPG imports from Russia remains under discussion and may require two to three additional negotiation rounds before an agreement can be finalized, Lahadalia said.Indonesia’s LPG demand is projected to reach 10 million tons in 2026, while domestic production capacity is estimated at only 1.6 million tons, leaving about 8.4 million tons to be sourced externally.Before the late-February outbreak of conflict involving Iran, Indonesia sourced roughly 70 percent to 75 percent of LPG imports from the United States, 20 percent from the Middle East, and the rest from others including Australia.“Once Saudi Aramco facilities were struck by missiles, it created immediate global repercussions,” Lahadalia said, pointing to heightened volatility in energy markets.Indonesia is therefore turning to Russian crude and LPG as alternative supply sources amid tightening global availability and price pressures linked to geopolitical tensions.The policy forms part of a broader government strategy to strengthen energy security and ensure stable supplies for Southeast Asia’s largest economy.“There must be diversification.We are optimistic that our crude oil supply resilience will continue improving over time through these measures,” Lahadalia said.