AKR Corp & BP have created new joint venture for fuel retail.
BP has signed an agreement with fuel logistics company AKR Corporindo for the joint development of a "differentiated" domestic fuel retail business. The joint venture will form a company, PT Aneka Petroindo Raya, which will operate as BP AKR Fuel Retail.
Tufan Erginbilgic Chief Executive of BP Downstream said "We are delighted to be working with AKR to help meet Indonesia's growing demand for fuels and provide superior convenience offers.” It is understood by PetrolWorld that it is planned to open the first fuel retail service station in Indonesia in 2018. PW060417
Editors Note: BP who withdrew from fuel retail in SE Asia a number of years ago have recently stated specific geographic regions in global terms, where they are set to develop fuel retail networks (see PW Library).