Jakarta –
PT Pertamina (Persero) recorded a consolidated net profit (Audited) in 2021 of US$ 2.046 billion or around Rp. 29.3 trillion. This was explained at the General Meeting of Shareholders (GMS) at the Ministry of SOEs, Wednesday (8/6).
Some of the achievements throughout 2021 include business transformation, increasing efficiency and production, carrying out the energy transition, to building oil and gas infrastructure and the Refinery Development Master Plan (RDMP) refinery project. Pertamina President Director Nicke Widyawati also said that in 2021 Pertamina succeeded in transforming by forming an Oil and Gas Holding with 6 Subholdings.
Mulai dari Subholding Upstream, Subholding Refining and Petrochemical, Subholding Commercial and Trading, Subholding Gas, Subholding Integrated Marine Logistics, dan Subholding New and Renewable Energy.
“This transformation is a strategic step to adapt to future business changes, move more agile and faster, and focus on broader and aggressive business development,” Nicke said in a written statement, Friday (10/6/2022).
The net profit in 2021 has almost doubled compared to 2020, which was Rp. 15.3 trillion. This achievement was also recorded 154% exceeding the 2021 RKAP target. Pertamina’s positive financial performance was also shown by an EBITDA of US$ 9.2 billion. All of this shows that Pertamina’s financial condition is healthy, safe, and able to survive in the midst of disruption and geopolitical challenges that affect the oil and gas and energy industries globally.
Pertamina’s net profit is the consolidated profit of all subsidiaries from upstream, processing to downstream. Most of the profit was contributed by the upstream sector’s income which also jumped due to the rising price of Indonesia Crude Price (ICP). The downstream sector is still under pressure from the high cost of fuel production, the largest component of which is crude oil.
Various efficiency programs have also managed to save US$ 1.4 billion in costs. In 2021, upstream oil and gas production will increase by 863 thousand barrels from the previous year. In addition, massive drilling has increased the production of the Rokan Block.
Then fuel production has also been achieved according to the target without additional imports, especially for Diesel and Avtur since April 2019. Meanwhile, to increase the reliability of special fuel supplies in Eastern Indonesia, Pertamina has built and operated 13 new BBM terminals. Integrated digitalization from upstream to downstream is one of the keys to success in controlling the production and distribution of fuel, as well as improving the quality of services to the community. Through the Integrated Commands Center, all operational activities can be monitored online and in real time.
For the development of new energy in 2021, the Cilacap Refinery has succeeded in producing Renewable Diesel (100% Biodiesel) with a capacity of 3,000 barrels per day. In terms of Environmental, Social, & Governance (ESG), Pertamina managed to improve its position by being ranked 15th among global energy companies. This achievement is the result of various decarbonization programs that are continuously being improved.
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