06:30 AM EDT, 07/07/2025 (MT Newswires) -- Companies from Indonesia and the US, including Pertamina, ExxonMobil ( XOM ) , and Chevron ( CVX ) , are expected to sign a $34 billion memorandum of understanding expanding trade in energy and agriculture, Reuters reported Monday, citing a government official.

The report said the agreement, to be finalized Monday afternoon, will also cover purchases of American soybeans, corn, and cotton, according to Indonesia's Ministry of Economics.

ExxonMobil ( XOM ) and Chevron ( CVX ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)