BP, AKR joint venture starts operations of first retail fuel station in Indonesia
Indonesia’s publicly listed fuel trader PT AKR Corporindo and British energy major BP have started the operations of their first retail fuel station, located in South Tangerang, Banten, Indonesia.
“We are pleased to announce the opening of the first BP-AKR service station. We aim to provide quality fuel to customers under the BP brand,” said Haryanto Adikoesoemo, AKR president director.
The fuel station will offer three grades of gasoline at the service stations – BP90, BP92 and BP95, as well as diesel fuel, encompassing BP’s unique ACTIVE technology formula.
Last year, the two companies formed a joint venture called BP AKR Fuels Retail. They plan to operate 350 retail sites in Indonesia through the joint venture, utilizing AKR’s logistics and infrastructure. Under the exclusive agreement signed in April 2017, the parties intend to develop and offer a differentiated consumer proposition leveraging BP’s and AKR’s capabilities and expertise across Indonesia’s growing retail market.
PT AKR Corporindo Tbk. is Indonesia’s leading integrated supply chain solutions provider and largest private sector distributor of petroleum and basic chemicals. The company was also appointed by the Government of Indonesia to distribute subsidized petroleum. The company is a renowned provider of logistics and infrastructure with areas of operations encompassing Indonesia and China.
BP is one of the world’s largest integrated energy companies, offering fuels and related convenience services to consumers at 18,000 BP-branded retail sites worldwide. In Indonesia, BP is one of the largest foreign investors, primarily through the major BP-operated Tangguh liquefied natural gas (LNG) project in Papua Barat. BP also has interests in the country in coalbed methane production, petrochemicals manufacturing through BP Petrochemicals Indonesia, Castrol lubricants marketing, and the Air BP-AKR Aviation joint venture.