Jakarta, Oct. 28 -- The United Arab Emirates (UAE) offers to supply up to 30 million barrels of crude oil to Indonesia under favorable commercial terms, Indonesia's upstream oil and gas regulator SKK Migas stated.

Head of SKK Migas Djoko Siswanto said the arrangement was discussed during a meeting between Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia and UAE Ambassador to Indonesia Abdulla Salem Al Dhaheri in Jakarta on Tuesday (October 27).

"The UAE Ambassador stated that they would deliver up to 30 million barrels of crude oil to Indonesia without upfront costs, without working capital requirements, and with shipping costs covered. This is welcome news for us," Siswanto remarked.

However, he did not elaborate o...