Caltex to enter fuel retail market

Caltex, a subsidiary of oil giant Chevron Texaco, plans to enter the country's fuel retail market, following the steps of several other major oil companies such as Petronas and Shell.

Erie Sudarmo, the commercial director at the directorate general of oil and gas, said in Jakarta on Monday that Caltex had obtained a form to apply for the license to operate in the country's fuel retail sector.

"Representatives of Caltex held a meeting with us last week. They asked for a form to apply for a license to sell fuel in the retail market," Erie said.

Several other companies including Petronas and Shell had obtained principle licenses to operate in the retail market, which would be officially opened to foreign and local companies beginning next year. The companies' combined investment is expected to reach US$345.4 million. (godang)