.jpg)
9 hours ago
1
Article content
(Bloomberg) — Indonesia’s plan to buy billions of dollars’ worth of US oil-related goods depends on the outcome of tariff negotiations, according to a top official cited by local news outlets.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
“We have allocated $10 billion to $15 billion to buy from the US if the tariffs are lowered, but if not, then there won’t be a deal,” Energy and Mineral Resources Minister Bahlil Lahadalia said in Jakarta on Monday, media outlets including CNN Indonesia and Bloomberg Technoz reported.
Article content
Article content
Article content
Indonesia previously proposed buying $15.5 billion of energy products from the US, part of a planned $34 billion in trade and investment deals designed to narrow a trade surplus and secure lower tariffs in negotiations with Washington. The US plans to impose a 32% tariff on Southeast Asia’s largest economy starting August.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
As part of that bid, state oil company PT Pertamina signed memorandums of understanding with Exxon Mobil Corp., Chevron Corp. and trading firm KDT Global Resources. Pertamina had said the signings related to the supply of feedstocks or crude oil for energy security, as well as partnership in sectors related to refining.
Article content
Exxon acknowledged the signing with Pertamina in an email to Bloomberg News, saying it reflected the companies’ shared commitment to explore a long-term supply arrangement in support of Indonesia’s energy needs. Chevron said in an email that it was ready to support Indonesia’s energy needs and help strengthen the US-Indonesia energy partnership, without elaborating.
Article content
Bloomberg Technoz is a partnership between Mayapada Group’s PT Berita Mediatama Indonesia and Bloomberg Media Group, a division of Bloomberg LP, the parent of Bloomberg News.
Article content
—With assistance from Yongchang Chin.
Article content
(Adds comments from Exxon and Chevron.)
Article content
English (US)