Indonesia receives first oil shipment from Russia as part of purchasing plan for 150 million barrels - media

MOSCOW. July 22 (Interfax) - Indonesia has begun purchasing Russian oil as part of a government plan to import 150 million barrels, Indonesian Minister for Energy and Mineral Resources Bahlil Lahadalia said at the opening of the Global Hydrogen Ecosystem summit and exhibition in Jakarta.

"We have already implemented the first stage," the minister is quoted as saying by local information agency Antara.

Lahadalia said that the country was still dependent on oil imports and ensuring sufficient domestic fuel supplies remained a crucial issue. He said that Indonesia would continue to import oil notwithstanding its country of origin as long as these imports met existing regulatory requirements.

Bloomberg reported, citing customs data, that a batch of around 770,000 barrels of Russian oil costing approximately $75 million overall had been delivered to the Indonesian port of Balikpapan on June 29. The oil was reported to have been shipped from the port of Kozmino on a Sierra tanker.

In April, Jakarta Special Envoy on Energy and Environment Hashim Djojohadikusumo was quoted by Indonesian daily Tempo as saying that the country had agreed to the supply of 150 million barrels of Russian oil for a special price. He said that this agreement had been reached during the Indonesian president's visit to Moscow on April 13. He also said that this would allow oil to be kept within the country to be used a buffer for potential economic shocks.

Russia initially agreed to send 100 million barrels straight away for a lower price and another 50 million barrels later if necessary.