Who Owns The Vivo Gas Station Network? Netherlands-based Oil And Gas Giant

Illustration of Vivo gas station (Photo: Doc. Antara)

YOGYAKARTA - The Vivo gas station under the auspices of PT Vivo Energy Indonesia is rumored to be selling fuel equivalent to pertalite produced by PT Pertamina. The fuel to be commercialized by the Vivo gas station is called Revvo with an octan or RON 90 value.

The public is also curious about who owns the Vivo gas station network that will become Pertamina's designist. The news of Revvo's own fuel sales has been revealed by Vivo gas station through the Instagram account @spbuvouindonesia since the end of September.

Vivo gas station has also displayed a description of Revvo 90's name in the gas station. However, the price statement has not yet been shown. PT Vivo Energy decided not to sell Revvo fuel anymore with RON 89 according to government regulations to remove low-octane fuel sales starting December 31, 2022.

Vivo gas station operates under the auspices of PT Vivo Energy Indonesia. Vitol Group was founded in 1966 in Rotterdam, Netherlands. The company is engaged in the oil and gas sector. Its parent company, namely Vitol Holding BV or Vitol Group, is an energy and commodity company located in the Netherlands. The company has developed a gas station network in the Netherlands, England, Singapore, Australia, and several countries in Africa.

Vitol Group's portfolio includes Vitol Aviation, Vivo Energy, Varo Energy, Viva Energy, OVH Energy, and VTTI. Various subsidiaries from this business group cover all aspects of the upstream oil and gas industry, imposition from purification, power generation, delivery, trading, terminals, to storage.

Although based in a mill, the majority of the highest executives are pusan-based companies in London. In addition, they also do a lot of business from Genewa, Switzerland. Vitol Group can be called one of the giant companies, but its existence is rarely known to people.

Currently, Vitol Group has networks in more than 40 countries. The company has traded as much as 367 million tons of crude oil and its derivative products by 2020. In 2021, this multinational company recorded revenues of 279 billion US dollars.

Vitol Group does not only move downstream by selling fuel directly through gas stations. The company plays in the upstream sector by drilling oil. Its oil supply in Africa is capable of producing about 55,000 barrels per day. Its largest oil mine is located in Ghana.

Indonesia is also one of the locations for the Vitol Group business in the oil or fuel sector through gas stations. His office is located in Gama Tower, Jalan Rasuna Said Kuningan, Jakarta.

Vivo expands its business through the Vivo gas station sector which competes directly with PT Pertamina. Vivo also has a mini refinery unit and fuel tank in Tanjung Priok, North Jakarta. Vivo distributes non-subsidized fuel and only sells general types of fuel.

Vivo gas stations sell three types of fuel, namely Revvo 89, Revvo 92, Revvo 95. The cheapest type of fuel is Revvo 89 which is sold at a price of Rp. 8,900 per liter. However, the Vivo gas station chose not to sell fuel anymore with an octan value of 89 following the government's fuel sales policy.

The policy is contained in the Decree (SK) of the Director General of Oil and Gas (Dirjen Migas) No. 85.K/HK.02/DJM/2022 concerning Standards and Quality of Gas type 88 Fuels marketed domestically.

The latest news is that the Vivo gas station will provide BBM Revvo 90 which is equivalent to Pertamina's pertalite production. However, Tutuka Ariadji, Director General of Oil and Gas at the Ministry of Energy and Mineral Resources, said that initially he did not know about the fuel permit. His party has not received a request for a sale permit from Vivo.

That is the explanation of the owner of the Vivo gas station network which will be a competitor to Pertamina gas stations. Even though it has announced that it will soon sell BBM Revvo 90, the price and date of sale are still unknown.

Stay up to date with the latest domestic and foreign news on VOI. You present the latest and most recent nationally and internationally.