Pertamina

Pertamina's largest share of 2021 profit from upstream sector

Retrieved on: 
Thursday, June 23, 2022
Government, ICP, Marketing, LPG, Petroleum, Information technology, Pertamina

JAKARTA, June 23, 2022 - (ACN Newswire) - The upstream sector accounted for the largest share of state-owned oil and gas firm PT Pertamina's (Persero's) net profit as Indonesian crude prices (ICP) soared in 2021.

Key Points: 
  • JAKARTA, June 23, 2022 - (ACN Newswire) - The upstream sector accounted for the largest share of state-owned oil and gas firm PT Pertamina's (Persero's) net profit as Indonesian crude prices (ICP) soared in 2021.
  • Reporting its 2021 fiscal year performance to the government, which is a shareholder in the company, Pertamina said it scored a net profit of Rp29.3 trillion.
  • The majority of this profit was obtained from the upstream sector's revenue, which increased sharply.
  • This profit was consolidated profit from all Pertamina business lines from upstream, processing, and downstream.

Tracing Pertamina's cost efficiency amid high global oil prices

Retrieved on: 
Wednesday, June 22, 2022
ANTARA, Martini, DPR, Government, MyPertamina, Efficiency, Acceleration, Program, Policy, Electricity, Lifting, HJE, Transport, State, Oil, Bank, Renewable energy, Risk management, Mining, Petroleum, Chemical, Security (finance), Fossil fuel, Insurance, Pertamina

JAKARTA, June 22, 2022 - (ACN Newswire) - State-owned oil and gas firm PT Pertamina (Persero) succeeded in achieving cost optimization of US$2.21 billion in 2021 amid high global crude oil prices.

Key Points: 
  • JAKARTA, June 22, 2022 - (ACN Newswire) - State-owned oil and gas firm PT Pertamina (Persero) succeeded in achieving cost optimization of US$2.21 billion in 2021 amid high global crude oil prices.
  • From a financial perspective, Pertamina has implemented a cost optimization program across the Pertamina Group, including cost savings, cost avoidance, and increased revenue.
  • In the upstream business, Pertamina has continued to increase oil and gas production and lifting to take advantage of the increasing oil prices.
  • We will continue to communicate with the government to ensure a good decision for the company," Martini said.Jakarta (ANTARA) - State-owned oil and gas firm PT Pertamina (Persero) succeeded in achieving cost optimization of US$2.21 billion in 2021 amid high global crude oil prices.

Pertamina posts record net profit of Rp29.3 trillion

Retrieved on: 
Wednesday, June 22, 2022
PSN, Tax, Efficiency, Pressure, Depreciation, EBITDA, Balikpapan, ICP, AA, State, Fossil fuel, Oil, Renewable energy, Petroleum, Pertamina

JAKARTA, June 22, 2022 - (ACN Newswire) - State-owned oil and gas firm PT Pertamina (Persero) posted a record net profit of Rp29.3 trillion in 2021 following a successful business transformation.

Key Points: 
  • JAKARTA, June 22, 2022 - (ACN Newswire) - State-owned oil and gas firm PT Pertamina (Persero) posted a record net profit of Rp29.3 trillion in 2021 following a successful business transformation.
  • The figure was almost double compared to the 2020 net profit of Rp15.3 trillion and exceeded the 2021 Corporate Work Plan and Budget (RKAP) target by 154 percent.
  • Pertamina's net profit was the consolidated profit of all subsidiaries from upstream, processing, to downstream.
  • Pertamina has also completed the construction of two giant oil and gas tankers, namely VLCC Pertamina Pride and Pertamina Prime, which will be used for the global market.

B20 ESC Task Force to link performance, SDG targets with policies

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Friday, May 27, 2022
Peace Implementation Council, Sustainable Development Goals, List of G20 summits, G20, SDG, Energy Task Force, KPI, Partner, Policy, Goal, Ministry, Ministry of State Owned Enterprises (Indonesia), Task force, Sustainable Development Goals and Australia, Pradikta Wicaksono, KPI-driven code analysis, Foreign Affairs, ESC, World Investment Forum, Renewable energy, Management, Transport, Risk management, Medical device, Pertamina, Climate, B20

Chair of the B20 Energy, Sustainability, and Climate Task Force, Nicke Widyawati, during the 4th Call Meeting of the task force in Jakarta on Tuesday, May 24, 2022.

Key Points: 
  • Chair of the B20 Energy, Sustainability, and Climate Task Force, Nicke Widyawati, during the 4th Call Meeting of the task force in Jakarta on Tuesday, May 24, 2022.
  • It was attended by around 140 participants comprising deputy chair of the ESC Task Force, Agung Wicaksono; policy manager of the task force, Oki Muraza; eight co-chairs of the task force; and B20 members from 19 industries and 25 countries.
  • "Based on the results of discussions between the Task Force and the Implementing Council, it has been agreed that all Task Force B20 should link the SDG goals that are relevant to the draft policy recommendations and develop KPIs as monitoring indicators in policy designs," Widyawati said.
  • On the same occasion, deputy chair of the task force, Agung Wicaksono, informed that the task force still has one Task Force Call in June 2022 for submitting final policy recommendations.

Chevron and Pertamina Announce Partnership on Lower Carbon Opportunities

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Thursday, May 12, 2022
Oil, Gas, Energy, Carbon, U.S. Securities and Exchange Commission, Government, Legislation, Epidemic, Accident, Pandemic, Annual report, JOC, Natural gas, News, COVID-19, Failure, Marketing, Carbon capture and storage, Government of Indonesia, Republic, Commercial, Board, CCS, Organization, NYSE, NRE, Coordinating Ministry for Maritime and Investments Affairs (Indonesia), Multimedia, Goal, Solution, Coronavirus, Weather, Partnership, Petroleum, Phrase, S&P Global, Chevron Corporation, CVX, Corporation, Curtailment (electricity), Tax, Energy, Ministry, Industry, Memorandum of understanding, Technology, Lubricant, CEO, Management, Renewable energy, Risk management, Storage, Pertamina

Ltd. (Chevron), and Indonesias PT Pertamina (Persero) today announced a partnership to explore potential lower carbon business opportunities in Indonesia.

Key Points: 
  • Ltd. (Chevron), and Indonesias PT Pertamina (Persero) today announced a partnership to explore potential lower carbon business opportunities in Indonesia.
  • (Photo: Business Wire)
    Aimed at serving local and potentially regional customers, Chevron and Pertamina plan to consider novel geothermal technologies; carbon offsets through nature-based solutions; carbon capture, utilization, and storage (CCUS); as well as lower carbon hydrogen development, production, storage, and transport.
  • This MoU demonstrates Chevron and Pertaminas commitment to continue identifying lower carbon opportunities through collaboration and partnership between Chevron, national energy companies, and governments, all of which have a shared interest in advancing national energy transition, said Jeff Gustavson, President of Chevron New Energies.
  • This partnership is a strategic step for Pertamina and Chevron to complement each others strengths and develop lower carbon energy projects and solutions to promote energy independence and domestic energy security," said President Director & CEO of Pertamina Nicke Widyawati.

Pertamina Sets Initiatives to Expedite Energy Transition

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Sunday, March 20, 2022
Climate change, Biodiversity, Geothermal gradient, CO2, Geothermal energy, Lithium, NDC, Senior, PGE, Steam, Water, Nationally Determined Contributions, Java, Renewable energy, Pertamina

JAKARTA, Mar 21, 2022 - (ACN Newswire) - PT Pertamina (Persaro), the state-owned energy company serving Indonesia as well as international markets, has set several initiatives to accelerate its energy transition toward the 2030 target energy mix and to reduce emissions, ensuring sustainability.

Key Points: 
  • JAKARTA, Mar 21, 2022 - (ACN Newswire) - PT Pertamina (Persaro), the state-owned energy company serving Indonesia as well as international markets, has set several initiatives to accelerate its energy transition toward the 2030 target energy mix and to reduce emissions, ensuring sustainability.
  • Pertamina's strategies to drive green energy are executed through priority initiatives, including a net zero roadmap, conducting decarbonization, and improving the new and renewable energy capacity with an allocated CAPEX of 14 percent for clean, new and renewable energy.
  • Moreover, to drive new and renewable energy growth in Indonesia's energy mix, Pertamina has also developed several projects and activities to expand the green energy portfolio, one of which is enhancing capacity from 672 megawatts (MW) in 2020 to 1,128 MW in 2026.
  • Also present at the media breifing, Pertamina Geothermal Energy (PGE) President Director Ahmad Yuniarto highlighted Pertamina's commitment to developing and generating clean and green power from geothermal resources to drive green energy expansion.

Indonesia's Pertamina Accelerates Energy Transition

Retrieved on: 
Sunday, March 20, 2022
Climate, EBT, Hydrogen, Business, ANTARA, Environment, G20, CEO, Carbon, Energy mix, GHG, Ring, Renewable energy, Pertamina

Pertamina has played an important role in the transition of Indonesia's energy industry by targeting the energy mix and reducing emissions, with a comprehensive reduction of GHG emissions by 30% before 2030.

Key Points: 
  • Pertamina has played an important role in the transition of Indonesia's energy industry by targeting the energy mix and reducing emissions, with a comprehensive reduction of GHG emissions by 30% before 2030.
  • In addition, Pertamina will prioritize the development of New and Renewable Energy (EBT) to address environmental problems, which is in line with Indonesia's Energy Mix by 2030.
  • Pertamina also supports Indonesia's G20 Presidency, which targets energy transition as one of its main priorities.
  • As part of the Business 20 Task Force on Energy, Sustainability, and Climate, Pertamina shares the priorities of G20 Indonesia as a catalyst for green recovery, along with the principles of energy security, energy equity and environmental sustainability.

Enhancing Indonesian state-owned enterprises (SOEs) through clustering

Retrieved on: 
Saturday, March 5, 2022
Pura, Industry, Leadership, ITDC, Coal, Vaccine, SOE, Perusahaan Listrik Negara, GDP, Mining, PT, Forestry, Central Bank of Malaysia, Manufacturing, BRI, Ecosystem, Aviation, MSME-Champions, PLN, Development, US, COVID-19, Association, Food, Kimia Farma, KUR, Hotel Indonesia, Telecommunication, Tourism, National Institute of Micro, Small and Medium Enterprises, BNI, BTN, PT Perkebunan Nusantara IX, MIND, Electricity, State, Insurance, Health, IFG, MSME, Airline, Fossil fuel, Platinum, Small, Ministry of National Development Planning of Indonesia, Pertamina

According to Jokowi, the clustering forms into one great power, as it builds networking with partnerships abroad.

Key Points: 
  • According to Jokowi, the clustering forms into one great power, as it builds networking with partnerships abroad.
  • Through clustering, SOE companies have shown above-standard or even excellent work performance that has contributed significantly to the state budget.
  • One of the efforts to enhance state firms' performances is through clustering and restructuring.
  • Clustering efforts have been accomplished by reducing the number of SOEs from 107 to 41, and sector clustering from 27 to 12, where two deputy ministers each oversee six clusters.

SOEs Minister Erick Thohir paves the way for Good Corporate Governance

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Thursday, February 24, 2022
Implementation, Ethics, KPK, Corruption Eradication Commission, Indonesian Financial Transaction Reports and Analysis Center, GCG, Efficiency, Bank Syariah Indonesia, Ministry, Indonesian National Police, App, BSI, Islam, United Arab Emirates, Leadership, SOE, Pressure, Corruption, Professional, Album-equivalent unit, Prosecutor General's Office of Azerbaijan, State, PPATK, Regulation, National, Policy, Asset management, Online gambling, Drug, Coal, Bank, Airline, Sharia, Erick Thohir, Pertamina

JAKARTA, Feb 24, 2022 - (ACN Newswire) - Good corporate governance (GCG) can help Indonesia's state-owned enterprises (SOEs) increase their value, investor confidence, develop their businesses, and manage risks.

Key Points: 
  • JAKARTA, Feb 24, 2022 - (ACN Newswire) - Good corporate governance (GCG) can help Indonesia's state-owned enterprises (SOEs) increase their value, investor confidence, develop their businesses, and manage risks.
  • In Indonesia, the implementation of GCG has been mandated for all SOEs under Erick Thohir's leadership as the Minister of SOEs.
  • According to Thohir, all SOEs must apply the five GCG principles outlined in the SOE Minister's Regulation Number PER-09/MBU/2012, Amendments to Regulation Number PER-01/MBU/2011 on the Implementation of Good Corporate Governance in SOEs.
  • "We are committed to continued transformation, transparency, and professionalism in the Ministry of SOEs, as well as for our SOEs.

Erick Thohir Paves the way for Good Corporate Governance

Retrieved on: 
Thursday, February 24, 2022
Ethics, KPK, Corruption Eradication Commission, Indonesian Financial Transaction Reports and Analysis Center, GCG, Efficiency, Bank Syariah Indonesia, Ministry, Indonesian National Police, BSI, Islam, United Arab Emirates, Leadership, SOE, Pressure, Corruption, Professional, Album-equivalent unit, Prosecutor General's Office of Azerbaijan, State, PPATK, Regulation, National, Policy, Asset management, Public relations, Online gambling, Management, Audit, Drug, Holding company, Bank, Sharia, Erick Thohir, Pertamina

JAKARTA, Indonesia, Feb. 24, 2022 /PRNewswire/ -- Good corporate governance (GCG) can help state-owned enterprises (SOEs) increase their value, investor confidence, develop their businesses, and manage risks.

Key Points: 
  • JAKARTA, Indonesia, Feb. 24, 2022 /PRNewswire/ -- Good corporate governance (GCG) can help state-owned enterprises (SOEs) increase their value, investor confidence, develop their businesses, and manage risks.
  • In Indonesia, the implementation of GCG has been mandated at all SOEs under Erick Thohir's leadership as the Minister of SOEs.
  • According to Thohir, all SOEs must apply the five GCG principles outlined in the SOEs Minister's Regulation Number PER-09/MBU/2012 concerning Amendments to the SOEs Minister Regulation Number PER-01/MBU/2011 concerning the Implementation of Good Corporate Governance in SOEs.
  • The fourth is independence in managing the company in a professional way without conflict of interest and pressure from certain parties.