Heaptalk, Jakarta — Shell Indonesia has officially divested its fuel retail station business to Citadel Pacific and Sefas Group, which have formed a new joint venture. The ownership transfer process is expected to be completed in 2026.
After the acquisition, the Shell brand will remain in Indonesia through licensing agreements, fuels will be supplied via Shell Trading, and customers will retain access to Shell’s high-quality fuel and lubricant products. “Shell fuel stations will continue to operate as usual until the ownership transfer is finalized, which is expected next year,” the company said in a written statement (05/23).
However, this acquisition does not include the lubricants business. The divestment is part of Shell’s portfolio transformation strategy and aligns with its Capital Markets Day commitments. The retail fuel business includes Shell’s network of fuel stations and fuel supply and distribution operations. The company operates around 200 fuel stations in Indonesia, with over 160 owned by the company and a fuel terminal in Gresik, East Java.
Citadel is the majority shareholder
Citadel confirmed, “We are excited to announce the formation of a joint venture between Citadel Pacific Ltd. and Sefas Group, which has agreed to acquire Shell Indonesia’s mobility value chain business.”
In more detail, Citadel is the majority shareholder in the newly formed partnership, contributing its expertise in fuel distribution and energy services. Sefas will join as a minority shareholder, bringing its local market knowledge and extensive customer network in Indonesia. Both companies have long-standing relationships and partnerships with Shell.
Previously, Citadel acquired and continues to expand Shell-branded retail fuel stations in Guam, Saipan, and Palau. It is also the Shell LPG licensee in Hong Kong and Macau. Additionally, Citadel acquired Shell’s LPG assets in the Philippines, now rebranded as Solane. The group is also the majority joint venture partner with Shell Philippines in real estate.
Established in 1997, Sefas has grown into Indonesia’s largest distributor of Shell lubricants. The company serves various industries, including mining, marine, logistics, and manufacturing, offering many lubricant products and services. More recently, Sefas expanded its partnership with Shell by entering Indonesia’s commercial fuels sector.
