AKRA receives higher quota to distribute subsidized fuels in 2013
Friday, November 23 2012 - 03:03 AM WIB
AKR Corporindo, Tbk (AKRA), Indonesia?s bulk supply chain logistics and infrastructure company, and the largest private distributor of petroleum products in Indonesia, has been informed by the downstream oil and gas regulator BPH Migas that it has been awarded quota to distribute 267,892 kilo liters of subsidized petroleum products (gas oil / solar and Mogas 88 / Premium) for the year 2013.
The quota awarded to AKR is 160 percent higher than the quota awarded during the year 2012 and is subject to the evaluation of the performance by BPH Migas on a quarterly basis, the company said in a statement Friday.
BPH Migas has also indicated that it is reserving a further volume of 612,958 kilo liters which may be allocated to private players during the year 2013 based on the execution of the supply arrangements and distribution of the fuel in Indonesia and the execution of the assignments by the new suppliers
AKRA which is the leading distributor of petroleum products to mining, bunker, power, industrial and fishery sector, with port operations across 19 sea and inland ports in Indonesia, reported petroleum product sales of Rp. 13,069 billion during the 9 months ended 30th September 2012, which is 14 percent higher than Rp. 11,501 billion during the same period of the year 2011.
During the 9 months ended 30th September 2012, petroleum distribution contributed 80% to the company?s consolidated sales revenues of Rp. 16,305 billion.
Editing by Reiner Simanjuntak