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Quarter III Pertamina Achieves Profit 2.83 billions of US $

Jakarta (Benchmark News) – PT Pertamina (Persero) achieve net income of US $2.83 billion until the end of the III quarter of 2016.

This increased performance is 209% compared with the same period the achievement by 2015 of US $914 million.

President Director of Pertamina, Dwi Soetjipto said up to the end of the quarter, the company posted a 2016 III income of US $26,62 billion down about 16.8% of revenue in the same period 2015 due to a decrease in the price of crude oil.

For three quarters in 2016 Pertamina net profit reached US $2.83 billion compared to the same period last year despite revenue decline of 16.8% as prices of crude oil are relatively low, said Dwi, Tuesday (8/11/1999).

The performance of the upper quarter III 2016 reached 646 thousand barrels of oil equivalent per day consisting of 309 thousand barrels per day of oil and gas 1,829 million. These achievements demonstrate an increase of 12.3% compared to the same period in 2015. While the achievement of geothermal electricity production reached 2,233 GwH equivalent electricity.

As for the transportation of gas, reached 393 BSCF gas company with sales reaching 530 BBTU. Meanwhile, sales of FUEL and non-FUEL increase thin compared to last year. Sales of FUEL on quarterly III 2016 reached 47.77 million KL or thin ride around 4.3% of KL 45.81 million in the same period last year. While for sales of Non FUEL up to the end of September 2016 reached 6.64 million KL of 4.8% up from the same period in the previous year.

Infrastructure development continued to do good gas infrastructure of Pertamina, processing, and marketing. Several projects such as the gas pipeline Gresik-Semarang, Muara Karang and Muara Tawar Tegal Gede has reached nearly 70% progress. Pertamina in Balikpapan Refinery RDMP target phase I was completed in June 2019 and start up in September 2019, while phase I completed medio 2021 with a standard Euro 5.

Meanwhile, New Grass Root Refinery Tuban which is a Joint Venture between Pertamina and Russia Rosneft will be completed at the end of 2021 with a standard Euro 5. To the Cilacap Refinery RDMP in cooperation with Saudi Aramco was completed at the end of 2002 with the Euro 5 standard specifications.

To NGRR Bontang had already decided to become the assignment to Pertamina and tentative will be finished in 2023, also with standard Euro 5, said Dwi….(Red)

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