Jakarta: Indonesia plans to modify the source of some of its Singapore fuel imports in the United States as part of the negotiations on steep prices, its Minister of Energy said on Friday, May 9.
The United States has imposed a 32% price on Indonesian productsBut like other countries, the implementation has been interrupted until July to give way to negotiations.
Minister Bahlil Lahadalia said that the change in certain fuel imports far from Singapore would gradually occur. Indonesia could change up to 60% of its total Singapore fuel imports in the United States at the start, he said.
“It is almost certain that we will take other fuel imports from other countries, not it (Singapore),” he told journalists, adding that the change could occur over the next six months.
The increase in fuel imports from the United States is part of a broader proposal that Indonesia has made in Washington to resolve prices.
The government said it wanted to increase American energy imports by around $ 10 billion, which also includes the purchase of American fuel, crude oil and liquefied oil gas
Bahlil said that in the negotiations, Indonesia wanted to import 10 times more American crude than now. Currently, around 4% of its gross imports come from the United States.
The Pertamina energy company said that it would be ready to execute the plan and may need to increase its fuel storage capacity in order to store fuels.
