BP to develop Indonesia retail business

BP and AKR Corporindo, a local petroleum and chemicals company, have agreed to set up a joint venture to operate fuel retail stations in Indonesia.

The tie-up, which will operate as Aneka Petroinda Raya, will run “differentiated” BP AKR petrol stations, the first of which will open next year.

“We are delighted to be working with AKR to help meet Indonesia’s growing demand for fuels and provide superior convenience offers,” BP downstream chief executive Tufan Erginbilgic,” said in comments on Thursday.

In an interview with Reuters last month, Erginbilgic said that BP sees growth in fuel retail marketing, with plans to expand its network of petrol stations that include convenience stores, modelled on its partnerships with Marks & Spencer and retailer REWE in the UK and Germany, respectively.

In the same interview, he alluded to replicating the model in Indonesia. Erginbilgic added that BP would seek similar opportunities in China, India and Mexico.