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Indonesia's state-owned integrated oil and gas firm Pertamina has been awarded the license to distribute subsidized fuel in Indonesia by the country's downstream regulator BPH Migas.
AFP quoted a senior official of BPH Migas as saying that the license will permit Pertamina to distribute an estimated 9.47 billion gallons of subsidized fuel. The Indonesian government reportedly subsidizes about 60% of the country's fuel consumption.
Pertamina was selected from a field of competitors that included local firm Aneka Kimia Raya, oil giants BP, Royal Dutch Shell, Total and the Malaysian state-owned energy firm Petronas.
BPH Migas has stated that the award of the license was because Pertamina was better qualified in terms of higher number of gas stations and fuel storage facilities.
Source: Datamonitor
Labels: Economy Update
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