Southeast Asia's short-term solution to the global energy crunch? Russian crude. | Fortune
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Southeast Asia's short-term solution to the global energy crunch? Russian crude. | Fortune
""Fortunately, our relations with Russia remain good," Anwar Ibrahim, Malaysia's prime minister, told local publication Sinar Harian. "Therefore, the Petronas team can negotiate with them.""
"The country's energy minister, Bahlil Lahadalia, later signaled that Jakarta could expect inflows of Russian oil by the end of the month, with state energy firm Pertamina involved in the deal. "The sooner, the better," Bahlil told reporters."
"Vietnamese refinery Binh Son Refining and Petrochemical said it was in talks with Russian partners to buy crude oil."
"Russia is also offering more than just fossil fuels: Russian state corporation Rosatom will build two reactors for..."
The Middle East conflict and Iran's closure of the Strait of Hormuz have led to a severe energy crisis, particularly affecting Southeast Asia, which relies heavily on oil and LNG imports from the region. In response, countries like Malaysia, Indonesia, and Vietnam are seeking to secure Russian crude oil supplies. Malaysia's Petronas is negotiating for oil, while Indonesia's Pertamina is involved in similar discussions. Vietnam's Binh Son Refining is also in talks with Russian partners for crude oil purchases, highlighting a regional shift towards Russian energy resources.
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