Faced with European Union Sanctions, Pertamina Considers Importing Oil from Russia

OIL AND GAS - JAKARTA. Discussions about importing crude oil from Russia through Pertamina, Indonesia's state-owned oil and natural gas corporation, have resurfaced. According to three traders who claim to be privy to the matter, as quoted from Reuters (July 23, 2024), Pertamina has included Russia in its crude oil purchase tender.

One of the tenders was closed last Monday, but the results have not yet been announced. If this news is accurate and results in a transaction, it would be Pertamina's first crude oil import from Russia in the last decade. Previously, Pertamina last purchased Russian crude oil from ESPO Blend and Sokol 10 years ago.