MOSCOW, 12 Sep — PRIME. Indonesia’s pragmatic approach to oil is beneficial to Russia, it’s up to logistics and settlements, Vasily Karpunin, head of the information and analytical content department at BCS World of Investments, told RIA Novosti.
The number of oil and gas drilling rigs in the United States has decreased
Earlier, Indonesian President Joko Widodo said that the country is considering buying Russian oil amid rising energy prices. In an interview with the Financial Times, he noted that Indonesia always monitors the available options in the market, taking into account the supplier with the best price.
“Such a pragmatic approach of the countries is beneficial to Russia. If there is some discount, as in the case of our Urals, then the country buys without any adventures imposed by the G7 (maximum price ceiling). These are market conditions, and they are accepted, it remains only a matter of logistics and calculations,” Karpunin said.
According to the expert, the Indonesian economy is growing at a rapid pace, on average higher than that of developed countries. So, in 2021, Indonesia’s GDP grew by 3.7%, the same pace is maintained as of the second quarter of 2022.
At the same time, oil consumption is stagnating. “Domestic production is about 0.6 million barrels per day. That is, the demand for consumption is 0.8-0.9 million barrels per day,” he stressed.
Karpunin added that the largest oil suppliers to Indonesia were Saudi Arabia, Malaysia and Nigeria.
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