Oil and gas company BP Global Investments Limited is divesting its entire fuel retail business in Indonesia. The move involves BP selling its equity stake in PT Aneka Petroindo Raya (APR) to PT AKR Corporindo Tbk (AKRA).
APR is a private company that operates the BP-AKR petrol station network in Indonesia. The company was originally established as a joint venture between BP and AKR Corporindo, offering three types of fuel: BP Ultimate, BP 92, and BP Diesel. As of the end of 2025, BP-AKR operated 70 petrol stations across Indonesia.
According to a disclosure filed with the Indonesia Stock Exchange (IDX) on Monday, the 9th of November, AKR Corporindo, as confirmed by its President Director, Haryanto Adikoesoemo, has acquired all of BP’s shares in APR through two of its subsidiaries: PT Anugerah Krida Retailindo (AKRIDA) and PT Andahanesa Abadi (ADH). Under this transaction, the two subsidiaries purchased 11,444,565 shares in APR previously held by BP, for a total consideration of US$14.22 million.
BP Global Investments previously held a 49.9% stake in APR. The divestment forms part of BP’s broader strategy to streamline its business portfolio. Head of Country for BP Indonesia, James Tehubijuluw, explained that the divestment is part of the company’s efforts to restructure its portfolio in order to support growth and enhance performance across all business lines.
“BP has agreed to divest its 49.9% stake in PT Aneka Petroindo Raya to PT Anugerah Krida Retailindo. With this transaction, BP will exit the joint venture. This move is part of BP’s ongoing efforts to restructure its portfolio to support growth and improve performance across all business lines,” Tehubijuluw stated in a written response to the press on Monday, the 9th of November.
Previously, Shell officially divested its retail fuel station business in Indonesia, following the completion of its transfer to the SEFAS Group, effective the 30th of October. The transaction was finalised in accordance with a sale and purchase agreement reached with the SEFAS Group. Consequently, the fuel stations are operated by PT Isla Energy Indonesia, which is currently owned by the SEFAS Group.
Although ownership of the fuel station business has changed, the Shell brand remains present in Indonesia through the network of stations managed by PT Isla Energy Indonesia.
“Under the brand licensing agreement, the Shell brand will continue to be used across PT Isla Energy Indonesia’s network of service stations, and customers will retain access to Shell’s high-quality fuel products,” Shell Indonesia previously stated in an official release on Friday, the 30th of October.