Caltex seeking a license to enter fuel retail market

Caltex, a subsidiary of world’s oil giant Chevron Texaco, is seeking for a license to enter the country’s fuel retail market which will be soon be opened to private companies, Neraca daily reported on Tuesday.

Erie Sudarmo, the commercial director at the directorate general of oil and gas, said in Jakarta on Monday that Caltex, the country’s largest crude oil producer, was very serious in its plan to enter the retail market.

Caltex, which would sell different types of fuel in the retail market, would have to compete with old player Pertamina but also several other oil giants including Shell and Petronas of Malaysia.

Several other companies including Petronas and Shell had obtained licenses to operate in the retail market which would be officially opened to foreign and local companies this year. Up to now, the fuel retail market is controlled by state owned Pertamina. (*)