Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, has opened up the possibility for Indonesia to buy oil from Russia after Indonesia officially became a member of BRICS, an intergovernmental organization focusing on economic cooperation and development.
Bahlil said the potential for oil imports from Russia could be done as long as it complies with the rules. Indonesia has so far imported oil from the Middle East, some of which may come from Russia.
This import plan is in accordance with the principle of free and active politics adopted by Indonesia. According to this principle, there is no problem for Indonesia to take steps that benefit the country.
KPI capacity
PT Kilang Pertamina International (KPI), a subsidiary of State energy company PT Pertamina, ensures that its refinery can provide opportunities for all types of oil to be managed effectively and efficiently.
“The crude oil procurement process is carried out in compliance with all applicable provisions, both nationally and internationally,” Hermansyah Y. Nasroen, KPI Corporate Secretary, said as quoted by Katadata.co.id on Tuesday, January 14, 2025.
In addition, the crude oil procurement process at KPI is also adjusted to the specification needs of each refinery, as well as considering the refinery’s economics in accordance with market conditions.
“The crude oil procurement process at KPI is also carried out by achieving the Good Corporate Governance standards applicable in the company,” he said.
Indonesia officially became a member of BRICS on Monday, January 6, 2025 following the announcement by Brazil as the holder of the 2025 BRICS presidency.
Through BRICS, Indonesia is thought to have the opportunity to access Russian oil at cheaper prices after joining. However, Luhut Binsar Pandjaitan, Chairman of the National Economic Council (DEN) stated that his party is still assessing the profits and losses for Indonesia in importing oil from Russia.
