Jakarta, July 31, 2025 – Malaysian state-owned energy company Petroliam Nasional Berhad (Petronas) has taken a significant step in Indonesia by enrolling three of its subsidiaries in the Business Competition Compliance Program run by Indonesia’s Business Competition Supervisory Commission (KPPU).
The move makes Petronas the first oil and gas group to collectively commit to competition law compliance in Indonesia. The KPPU formally approved the participation of PT PCM Kimia Indonesia (PT PCM), PC Ketapang II Ltd. (PC Ketapang), and PT Petronas Lubricants International Indonesia (PT PLI Indonesia) through official determinations on July 23 for PT PCM and PC Ketapang, and July 30 for PT PLI Indonesia.
The five-year program involves the development of a code of ethics, internal compliance guidelines, internal training, and periodic reporting. It is designed to strengthen corporate governance and align business practices in Indonesia with global compliance standards.
“We appreciate Petronas’s initiative as the first oil and gas company to implement a competition compliance program in Indonesia. Domestic companies, including state-owned enterprises, should follow this example,” said KPPU Chairman M. Fanshurullah Asa.
Petronas executives emphasized that while the company already applies global compliance standards in more than 50 countries, Indonesia is the first market where the program is being implemented in formal partnership with a local competition authority. “Compliance with the law and fair competition principles are part of our culture,” said Petronas Chief Compliance Officer Tengku Mazura Tengku Ismit, who attended the July 30 hearing along with Senior Vice President and Group General Counsel Razman Hashim.
The three Petronas subsidiaries represent different parts of the energy value chain: PC Ketapang operates offshore oil and gas activities in Madura, PT PCM Kimia Indonesia trades petrochemical products, and PT PLI Indonesia focuses on lubricants and functional fluids.
KPPU said the initiative sends a strong signal to other strategic industries in Indonesia to strengthen their compliance culture, adding that it will foster transparency and integrity in the country’s increasingly competitive business environment.
Source: https://kppu.go.id/wp-content/uploads/2025/07/Siaran-Pers-No.-057_KPPU-PR_VII_2025.pdf
