Report says Indian Oil keen to sell gasoline, diesel in Indonesia

State-owned Indian Oil Corp is in talks with Indonesia's national oil company Pertamina to start selling gasoline and diesel in Indonesia, the Press Trust of India reported Thursday.

"We have approached the Indonesian government for permission to begin retail sale of petrol (gasoline) and diesel in their country," the PTI report quoted IOC's Director for Business Development M.S. Ramachandran as saying.

IOC would enter the retail business possibly through a joint venture with a local company. Talks had been initiated with Pertamina, Ramachandran said.

Ramachandran said IOC was also exploring the possibility of entering the lubricants market in Malaysia. Ramachandran said KPMG has been selected to do a market study.

IOC is India's largest refining and marketing company. It owns and operates seven of India's 18 refineries.(*)