Financial Wire

Market Chatter: Indonesia to Procure Crude Oil, LNG from Russia

-- Russia has agreed to supply crude oil and liquefied petroleum gas (LPG) to Indonesia following high-level talks in Moscow for strengthening energy cooperation, the Jakarta Globe reported Tuesday, citing Indonesia's Energy and Mineral Resources Minister Bahlil Lahadalia.

The deal follows discussions between Indonesian President Prabowo Subianto and Russian President Vladimir Putin, with both sides also exploring broader cooperation in storage, refinery development and power generation, according to the report.

The partnership is being pursued through both government and private-sector channels, with Russian energy firms including Rosneft, Lukoil and Zarubezhneft involved in talks. Supply volumes, however, were not disclosed, the report 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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