Market Chatter: Indonesia to Procure Crude Oil, LNG from Russia

MT Newswires Live04-15

Russia has agreed to supply crude oil and liquefied petroleum gas (LPG) to Indonesia following high-level talks in Moscow for strengthening energy cooperation, the Jakarta Globe reported Tuesday, citing Indonesia's Energy and Mineral Resources Minister Bahlil Lahadalia.

The deal follows discussions between Indonesian President Prabowo Subianto and Russian President Vladimir Putin, with both sides also exploring broader cooperation in storage, refinery development and power generation, according to the report.

The partnership is being pursued through both government and private-sector channels, with Russian energy firms including Rosneft, Lukoil and Zarubezhneft involved in talks. Supply volumes, however, were not disclosed, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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