BP, AKR in aviation fuel JV
Wednesday, May 3 2017 - 06:35 AM WIB
Courtesy of BP
IDX-listed firm PT Aneka Kimia Raya Tbk (AKR) has set up JV with Anglo-American energy giant BP Plc to embark on aviation fuel business in Indonesia.
The company said in its disclosure announcement to the Indonesian Stock Exchange on Tuesday that its subsidiary PT Anugrah Krida Retailindo has on April 28, 2017 signed agreement with BP Global Investments Limited to set up a JV unit called PT. Dirgantara Petroindo Raya with the aim of operating and marketing aviation fuels in Indonesia.
The company did not give further detail.
Currently aviation fuel business in Indonesia is dominated by state oil company PT Pertamina.
Earlier last month, AKR and BP have set up a JV to develop fuel retail business in Indonesia.