Indonesia's Ministry of Energy and Mineral Resources is preparing regulations for planned energy imports worth up to $15 billion from the US, following a recent tariff agreement between Indonesia and the US, reported ANTARA.

 

“The Ministry of Energy and Mineral Resources must take steps to follow this up with Pertamina (the state-run oil and gas company),” Bahlil Lahadalia, the Minister of Energy and Mineral Resources, told the press at the Ministry's office in Jakarta.

 

Lahadalia affirmed that he would hold a technical meeting with Pertamina to discuss the energy commodities to be imported. Crude oil and liquefied petroleum gas (LPG) have so far been agreed upon.

 

Pertamina has signed a memorandum of understanding (MoU) with its partner in the US for crude oil. Meanwhile, the increase in LPG imports from the US is still in the exploratory stage.

 

Earlier, the Vice President of Corporate Communications at Pertamina, Fadjar Djoko Santoso, stated that Pertamina had signed an MoU with its partner in the US to purchase crude oil.

 

He noted that the signing of the MoU is part of Indonesia's proposal to the US to lower the US reciprocal tariff, which was previously set at 32 per cent.

 

Furthermore, Pertamina plans to increase the share of LPG imports from the US to 60 per cent of its total LPG imports. In 2024, LPG imports from the US accounted for 57 per cent of Pertamina's total LPG imports.

 

Earlier, US President Donald Trump wrote on Truth Social that he and Prabowo had reached a deal that “opens up Indonesia’s entire market to the US for the first time in history.”

 

He stated that under the agreement, Indonesia will pay a 19 per cent tariff on every product it exports to the US, while US exports to Indonesia will be exempt from tariff and non-tariff barriers.

 

Trump further highlighted that Indonesia has committed to purchasing $15 billion worth of energy, importing $4.5 billion of agricultural products, and acquiring 50 Boeing aircraft from the US.