U.S. companies including Exxon, Chevron to sign $34B Indonesia deal – Reuters

Companies from Indonesia and the U.S., including Exxon Mobil (NYSE:XOM), Chevron (CVX), and Indonesian state energy company Pertamina, are expected to sign a memorandum of understanding worth $34B, Reuters reported Monday, citing a government official.

The deal to be signed later on Monday also will also include purchases of U.S. soybeans, corn, and cotton, said Pujo Setio, a senior official at Indonesia’s ministry of economics, according to the report.

The news comes as most U.S. trade partners face the prospect of steeper duties at the end of the 90-day moratorium on President Trump’s “Liberation Day” reciprocal tariffs on Wednesday, although U.S. Treasury Secretary Bessent has clarified that the new rates would take effect from August 1.