Pertamina Aims at Controlling 45 Percent of RI Oil, Gas
TEMPO.CO, Jakarta
- State oil-and-gas company Pertamina's net profit in the first quarter (Q1) of
2015 is still a far cry the figure that it had initially forecasted. Pertamina's executive director Dwi
Soetjipto said that in the first trimester of 2015, the company had only
managed to book a net profit of around US$28 million—roughly equivalent to
about Rp336 billion—far lower than the figure forecasted for Q1 of 2015 at
US$427 million. "Current circumstances have forced us to sell our products
for a loss to the market," said Dwi in Jakarta on Wednesday.
According to Dwi, such low profit
realization was mainly driven by the fact that Pertamina had had to buy crude
oil and gas at high prices, while simultaneously it was forced to sell them at
low prices to remain competitive in the market—especially considering that
global crude oil prices had continued to drop to hover around the US$50 per
barrel in the past few months.
According to the company's most recent
financial reports for the period between January and March 2015, Pertamina's
income amounted to US$10,67 billion, but the company has had to shoulder the
costs of goods sold (COGS), which costed it some US$9,67 billion, as well as
its operating cost, which stood at US$449 million. As such, the company could
only manage to book a net profit of about US$550 million.
That said, the situation is far better than
what occurred in January and February of 2015, wherein Pertamina incurred a net
loss of US$212 million or Rp2.74 trillion—necessitating Pertamina to revise its
revenue target for 2015 to US$49 billion, lower than its net revenue
realization in 2014, which stood at US$71,1 billion. The reason that Pertamina
cited was the current state of global crude oil prices, which has continued to
depreciate since mid-last year.
Dwi also said that he was quite irked by the
Malaysian state oil-and-gas company, Petronas Bhd, which had received a lot of
assistance from the Indonesian government that had allowed it to ease and
streamline the process of establishing its facilities in Indonesia, but had yet
to reciprocate to Pertamina's request to do the same. "We've even had to
beg, so to speak, to receive a concession from the Malaysian government,"
he complained.
The ease with which Petronas had
conducted its business, had allowed Petronas to control 60 percent of all
oil-and-gas production in Malaysia and expand its' business abroad, while
Pertamina was still wasting its precious time to reform its internal management.
"By comparison, Pertamina only has
control over 22 percent of Indonesia's oil and gas industry," said Dwi.
Dwi said that Pertamina wanted to be able to
control at least 45 percent of Indonesia's oil-and-gas sector in the next five
years, which could only be achieved once Pertamina managed to assume full
control over Indonesia's largest oil production facilities, which included the
block in Ambalat, Mahakam, Kampar, and West Madura's offshore block.
Energy and
Mineral Resources Minister Sudirman Said
has previously admitted that Pertamina is currently selling its fuel at rates
not profitable to the company, but affirmed that the government would maintain
its policy to cut fuel subsidies. "Pertamina's
profitability will no longer be dependent on government's subsidies, but on how
it manages its operations," he said.
SUMBER :
https://m.tempo.co/read/news/2015/04/23/056660411/pertamina-aims-at-controlling-45-percent-of-ri-oil-gas
Tidak ada komentar:
Posting Komentar