Pertamina Must Cut Expenses by 20 Percent to Meet Profit Target
Kamis, 1 Januari 1970 07:00 WIB
TEMPO.CO , Jakarta - State-owned oil company Pertamina needs to cut expenses by 20 percent in the second half if they want to meet this year`s net profit target. The company's work plan pegged a net profit target of US$2.3 billion.
Pertamina finance director Arief Budiman said the company's revenue grew 19 percent to US$20.5 billion in the first semester. However, net profit declined by 24 percent to US$1.4 billion (yoy), while the company's EBITA fell 22.9 percent to US$3.16 billion.
Read: Pertamina Eyes Two Oil Fields in Iran
To meet this year's profit target, Arief said the company needs to cut expensed by at least 20 percent, provided there is no significant change in oil prices, on which Pertamina 's income also depends.
"Everything depends on prices. If prices are unchanged, we will conduct efficiency measures in the second half," he said.
BISNIS
Pertamina Geothermal Energy Nets US$47.49mn Profits in Q1
6 hari lalu
Pertamina Geothermal Energy Nets US$47.49mn Profits in Q1
Pertamina Geothermal Energy is able to maintain its net profit margin at 46 percent.
Read More
Pertamina: No Disruption on Fuel Stock amid Iran-Israel Conflict
13 hari lalu
Pertamina: No Disruption on Fuel Stock amid Iran-Israel Conflict
A Pertamina official said that oil and gas stocks were safe and would remain safe for a period of 20 days
Read More
Iran-Israel Conflict: EMR Ministry Assures Fuel Supplies in Indonesia Still Safe
18 hari lalu
Iran-Israel Conflict: EMR Ministry Assures Fuel Supplies in Indonesia Still Safe
The Ministry of Energy and Mineral Resources is confident that national fuel oil reserves in Indonesia are unaffected by Iran and Israel's conflict.
Read More
Pertamina Records Increase in Pertamax Series Fuel Consumption
23 hari lalu
Pertamina Records Increase in Pertamax Series Fuel Consumption
Pertamina official explained that people prefers to use higher quality fuel during homecoming to prevent vehicle trouble on the road.
Read More
BPH Migas Says There is Enough Fuel Stock for Ramadan, Eid
32 hari lalu
BPH Migas Says There is Enough Fuel Stock for Ramadan, Eid
BPH Migas said that the stock of fuel oil during the period of Ramadan and Eid 2024 is in a safe condition, with enough volume for more than 20 days.
Read More
Pertamina Readies Fuel, LPG Stocks Ahead of Eid al-Fitr Holiday Season
34 hari lalu
Pertamina Readies Fuel, LPG Stocks Ahead of Eid al-Fitr Holiday Season
Pertamina has stocked up fuel (BBM) and LPG (liquefied petroleum gas) in East Java, Bali, and Nusa Tenggara ahead of the Eid al-Fitr holiday period.
Read More
Pertamina Joins Forces with Bakrie Group to Develop Research Infrastructure at IKN
39 hari lalu
Pertamina Joins Forces with Bakrie Group to Develop Research Infrastructure at IKN
Pertamina and Bakrie Group have agreed to develop shared hub infrastructure in Indonesia's future capital city (IKN), Nusantara.
Read More
Groundbreaking for IISI by Pertamina, Bakrie Group in IKN Begins Q2 of 2024
40 hari lalu
Groundbreaking for IISI by Pertamina, Bakrie Group in IKN Begins Q2 of 2024
Pertamina and Bakrie Group agreed to develop Shared Hub Infrastructure in the Nusantara Capital City (IKN).
Read More
Pertamina International Shipping Ensures Adequate Supply of Fuel at Ports Ahead of Eid Homecoming
40 hari lalu
Pertamina International Shipping Ensures Adequate Supply of Fuel at Ports Ahead of Eid Homecoming
Pertamina International Shipping (PIS) guarantees a smooth supply of fuel at ports, bunkers, and depots ahead of the Eid homecoming season.
Read More
Govt Ensures No Price Hike on Pertamina's Fuel Oil
4 Maret 2024
Govt Ensures No Price Hike on Pertamina's Fuel Oil
Jokowi ensured that there would be no price hike for fuel oil (BBM) from Pertamina.
Read More
Recomended
17 Juni 2022
17 Juni 2022
17 Juni 2022
17 Juni 2022
17 Juni 2022
16 Juni 2022
16 Juni 2022
16 Juni 2022
16 Juni 2022
16 Juni 2022