JakartaPost-May 11

Total Oil has closed all of its gas stations in Indonesia as the French oil and gas supermajor throws in the towel in a market overwhelmingly dominated by state-owned Pertamina. Total Oil Indonesia marketing manager Magdalena Naibaho said on Tuesday that the Paris-based company had closed all 18 of its gas stations across Greater Jakarta and Bandung. “This decision is in line with Total’s global strategy to actively manage our business portfolio,” she told The Jakarta Post via text message. The decision makes Total the second oil and gas company to exit Indonesia’s fuel retail market after Malaysia’s Petronas in August 2012, also due to tight competition. The state-owned oil company is, until now, the main distributor of subsidized fuels, which helps attract customers to their gas stations.

Read more athttps://www.thejakartapost.com/news/2021/05/11/frances-total-exits-indonesia-fuel-retail-market.html