Indonesia includes Russian oil to tender lists
Indonesian state-controlled refiner Pertamina has added Russian oil grades to its tender lists to buy September crude, according to Reuters.
A view of state-owned oil giant Pertamina's refinery unit IV in Cilacap, Central Java, Indonesia. Photo courtesy of Reuters.
The news agency noted that Pertamina has not purchased Russian oil for years, but it has changed its decision since 2022.
The Indonesian company has planned to purchase Urals oil from Russia for delivery on September 15-17 and Sokol oil for delivery on September 18-20. Pertamina last purchased Sokol oil from Russia more than 10 years ago.
According to Reuters, one of the tenders closed last week and another on Monday (July 22).
One of the sources familiar with Pertamina's plans said the company may only buy Russian oil if it was sold under the price cap regulation. The cap allows Western shippers and insurers to participate in Russian oil trading provided that the oil is sold for less than $60 a barrel.
Indonesian President Joko Widodo mentioned the possibility of purchasing oil from Russia in 2022. According to him, fuel from Russia can help curb rising energy prices domestically.
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