SPC ventures into fuel retail in Indonesia

For the first time, Singapore Petroleum Company (SPC) is entering the Indonesian retail market to sell gasoline, diesel fuel and fuel oil. This will be done through PT Solar Premium Central, an Indonesian marketing joint venture, in which it has acquired a 60% stake for US$ $600,000. Second Bridge Pte Ltd, a Singaporean company owned by Indonesian parties, holds the other significant interest in PT Solar, which has the General Fuel Oil Trading License to market the fuels in Indonesia. Shell and Malaysia’s Petronas have opened petrol stations around Jakarta to sell gasoline, while others like BP supply oil products to Indonesian companies. (August 8, 2007)