Jakarta, Nov. 17 -- The Indonesian government is currently drafting a Presidential Regulation (Perpres) to allow the state oil company, PT Pertamina, to purchase energy from US companies without a bidding process.

Coordinating Minister for Economic Affairs Airlangga Hartarto on Monday stated that this policy is part of a reciprocal tariff agreement between the two countries.

"This is part of the reciprocal tariff. This is only for US companies, without bidding," he said at a press conference for the 13th US-Indonesia Investment Summit in Jakarta.

Hartarto said the Indonesian and US governments are in the final stages of negotiations for tariff exemptions on several leading Indonesian commodities, with completion targeted this year.

"W...