Market Chatter: Indonesia to Pivot Crude Oil Import Routes to Bypass Middle East Disruptions

MT Newswires Live05-13 17:30

Indonesia is expanding crude oil imports from regions outside the Middle East and the Strait of Hormuz to minimize disruptions amid rising geopolitical tensions, Bisnis reported Wednesday, citing a senior energy ministry official.

Laode Sulaeman, director general of oil and gas at the Energy and Mineral Resources Ministry, said the government has started sourcing more crude from African producers such as Nigeria. Energy Minister Bahlil Lahadalia previously said Indonesia would also begin receiving crude oil shipments from Russia under a phased plan to purchase 150 million barrels through end-2026, the report said.

Data from Indonesia's statistics agency showed crude oil imports reached 2.52 million tonnes in January, with Angola accounting for the largest share at 22%, followed by Saudi Arabia at 20.4% and Nigeria at 20.3%. Brazil and Australia were also among the country's key suppliers during the period, Bisnis 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.)

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