Indonesia to Import 150 Million Barrels of Russian Crude Oil in Phases Through 2026 Indonesia has confirmed plans to import 150 million barrels of crude oil from Russia in phased deliveries through the end of 2026, according to multiple verified reports from Indonesian government officials and state media. The agreement, stemming from President Prabowo Subianto’s meeting with Russian President Vladimir Putin in Moscow on April 13, 2026, aims to address the country’s persistent energy shortfall amid global market volatility. Deputy Minister of Energy and Mineral Resources Yuliot Tanjung announced the commitment on April 24, 2026, stating that the imports will be delivered in stages due to Indonesia’s limited domestic oil storage capacity. The volume represents approximately half of Indonesia’s annual fuel consumption, which stands at around 1.6 million barrels per day based on domestic production of 600,000 barrels per day, leaving a daily shortfall of about 1 million barrels. The imported crude will not be limited to state-owned oil company Pertamina. Instead, it will be distributed across key sectors including industry, mining and petrochemicals, with the government evaluating two procurement models: direct purchases through Pertamina or the establishment of a novel Public Service Agency (BLU) to streamline transactions and improve financing flexibility using the national budget (APBN). Officials noted that the BLU route may reduce financial risk compared to bulk procurement via Pertamina. In addition to the crude oil deal, Indonesia has likewise begun negotiations to import liquefied petroleum gas (LPG) from Russia, though the volume remains under discussion. Despite securing Russian supplies, the government emphasized that it remains committed to diversifying its energy sources, including continued procurement from the United States and other international suppliers to mitigate economic pressures and ensure energy stability. The agreement includes an initial commitment of 100 million barrels at a special price, with an option for an additional 50 million barrels if needed later in the year to address potential supply disruptions or price spikes. Indonesian officials have stated that the imports are intended to fulfill national energy demand through the end of 2026 and support ongoing efforts to maintain subsidized fuel prices without increases this year. As Southeast Asia’s largest economy and a net oil importer despite domestic production, Indonesia continues to navigate global energy challenges stemming from geopolitical tensions, including disruptions in traditional supply routes such as the Strait of Hormuz, which normally channels 20-25% of the country’s crude imports from the Middle East.
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