Jakarta, CNBC Indonesia – Russia’s decision to invade Ukraine is still going back and forth, but tensions between the two countries are still heating up. The domino effect is that commodity prices, in this case world crude oil, have gone up insanely, almost touching the level of US$ 100 per barrel.
Crude oil prices Brent which became the reference for world oil connoisseurs in trading this morning at 09.07 WIB, shot up to touch US$ 97.16 per barrel. While the type light sweet or West Texas Intermediate (WTI) the price shot up to US$ 94.00 per barrel.
Fortunately, although world crude oil prices rose high triggered by the Russia-Ukraine conflict, oil import activities are claimed to have not experienced any disruption, including oil imports to Indonesia. Then does Indonesia have a dependence on energy supplies from Russia and the effects are already being felt?
The Director General of Oil and Gas (Directorate General of Oil and Gas) of the Ministry of Energy and Mineral Resources (ESDM), Tutuka Aridaji said that in fact Russia does not export its crude oil and gas to Indonesia, but to Europe and China.
Meanwhile, Indonesia mostly imports oil from Middle Eastern countries and Nigeria. “There are two conditions, we have not felt a direct influence. Maybe now we are observing and closely observing whether there is a domino effect from this tension,” said Tutuka to CNBC Indonesia, Monday (21/2/2022).
Likewise, other products such as fuel oil (BBM) and liquefied natural gas (LNG), said Tutuka, have not yet felt the impact of tensions between Russia and Ukraine.
“But we also remain careful because this could have a domino effect,” explained Tutuka.
The most important thing at this time, said Tutuka, is that Indonesia’s current fuel stock is still safe even though the fuel stock is only 21 days. But PT Pertamina (Persero) as a state-owned oil company has high flexibility in importing oil from many countries.
“So anticipating conditions as they are currently happening can be better, adaptive to world tension conditions,” explained Tutuka.
Tutuka said the government was still closely monitoring the impact of the Russian-Ukrainian conflict, although it did not have a direct impact, but it also had a direct impact on the Middle East, such as Saudi Arabia, or Africa, which is an oil exporter to Indonesia.
“This will have an impact on our supply. So that’s what we think we should pay attention to. A few months earlier we had anticipated by identifying existing facilities in the oil and gas industry that could be used as operational reserves,” said Tutuka.
Currently, the Government continues to actively communicate with Pertamina and other parties to ‘Alert’ if something happens, so that the government can act quickly. “We have learned from the drastic increase in production from Covid-19 yesterday, the increase was very sharp, so we really worked hard to cover the sudden sharp need,” he said.
(pgr/pgr)
–
