BP-AKR to continue expansion in fuel retail market

Fuel oil retailer PT Aneka Petroindo Raya (APR), a joint venture between BP and IDX-listed PT AKR Corporindo Tbk, aims to continue expansion in the Indonesian fuel retail marker after having opened up its first four fuel oil stations in the Greater Jakarta Area, Kontan reported on Friday.

The paper quoted Neale Smither, Vice President of New Markets BP Downstream, as saying that over the next 10 years, APR is targeted to operate 350 petrol stations (better known here as SPBU). ?We have just opened four SPBUs. Later on, per year we?ll open 35 SPBUs,? he said.

APR is targeted to operate 20 SPBUs this year, the paper said. After opening up four SPBUs in the Greater Jakarta area, namely in Jababeka, Bintaro, BSD and Cibubur, APR sets its eye on Surabaya, in East Java Province.

?Indonesia is amongst the fastest growing nations in the region and we are proud to enter this market with our partner, AKR,? Smither said in a statement issued on Thursday following the opening up of the fourth fuel stations in Bintaro. The first three were opened in November and December of last year.

Editing by Reiner Simanjuntak