Business · Companies · 5 hrs ago
AKR Takes Full Ownership of BP’s Indonesian Fuel Station Business
PT AKR Corporindo has bought BP’s remaining 49.9% stake in PT Aneka Petroindo Raya, which operates fuel stations in Indonesia.
The deal, signed on November 6, was worth US$14.22 million.
Before the purchase, AKR’s group owned 50.1% of APR and BP owned the rest; now AKR’s group owns all of APR.
BP is selling the stake as part of a shift in focus to upstream oil and gas, while Shell is focusing on lubricant sales.
Indonesia’s energy ministry said the exits were business decisions, not signs of a poor investment climate in the fuel retail sector.
AKR said the deal is not expected to have a material negative effect on its operations, finances or business continuity.
AKR Corporindo’s subsidiaries bought BP Global Investments Limited’s 49.9% stake in PT Aneka Petroindo Raya, making the AKR Group the company’s sole owner.
The transaction was signed on November 6, 2026, and involved 11,444,565 shares.
The reported price was US$14.22 million, though the articles give different rupiah equivalents.
An Indonesian energy ministry official said BP plans to focus on its upstream oil and gas business.
The official described BP’s sale as a business decision and denied it reflected an unfavorable investment climate for the downstream oil and gas sector.
- Who
- AKR Corporindo subsidiaries AKRIDA and ADH bought BP Global Investments Limited’s stake in PT Aneka Petroindo Raya.
- What
- They acquired BP’s 49.9% shareholding, giving the AKR Group 100% ownership of APR.
- When
- The transaction was signed on November 6, 2026.
- Where
- Indonesia. APR operates a BP fuel station network there.
- Why
- BP sold the stake as part of a strategy to simplify its portfolio and focus on upstream oil and gas.
This story does not have two clearly opposing sides.
AKRIDA owned 50.1% of APR and BP owned the remaining 49.9%.
AKR subsidiaries signed the purchase of BP’s 49.9% stake in APR.
AKR disclosed the transaction, and an energy ministry official commented on BP’s decision.
- Stake acquired
- 49.9% of APR
- Shares purchased
- 11,444,565
- Buyer subsidiaries
- AKRIDA and ADH
- Price
- US$14.22 million; the articles report rupiah equivalents of Rp223 billion and Rp255.96 billion
- Ownership after transaction
- AKR Group: 100% of APR
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What people are saying
This is just an ordinary business decision. Shell wanted to focus on the lubricants business. BP is strong in upstream, so it wants to focus on upstream, which is why this is being sold.
From my perspective, it has nothing to do with that; this is purely a business decision.