Pertamina to build 300 gas stations in three years

State oil and gas firm Pertamina is planning to keep its dominance in Indonesian retail fuel market by building 300 new fuel stations throughout the country within the next three years.

Pertamina spokesperson Hanung Budya said in a statement that Pertamina would need around US$150 million for the plan. Pertamina, he said, would be cooperating with Hiswana Migas, a grouping of private fuel retailers to realize the plan.

The move, said Hanung, was to anticipate downstream sector liberalization starting November 2005 next year, when Pertamina would lose its monopolistic power. According to Hanung, Pertamina plans to keep at least 30 percent of retail market shares after liberalization.

Several oil majors including ChevronTexaco, ExxonMobil, Total and Petronas had been eyeing Indonesia?s lucrative downstream market either by cooperating or competing with Pertamina.

Hanung said Pertamina is also planning to launch two new fuel brands, namely Solar Plus and Gasoline RON 98 in December this year in addition to its existing fuel brands. (godang)