JAKARTA, Cilacap.info English – On 76th anniversary of independence of Republic of Indonesia, as a world-class energy State-Owned Enterprise (BUMN), Pertamina continues to grow its business to various foreign countries and encourage its subsidiaries to be competitive in international arena.
This is in line with SOE transformation carried out by Minister of SOEs, Erick Tohir, to encourage more state-owned companies to become global preferences.
In addition to acknowledging operations abroad, Pertamina has also managed to become only company from Indonesia to be included in 2021 Fortune Global 500 list at position 287.
According to Erick, this recognition is evidence of ongoing improvements to company organization.
“I am optimistic that Pertamina performance will be even better and frame for Pertamina is to compete with competitors at world level. Because Pertamina has all requirements, both quality and capability to support it as one of world big companies,” said Erick in a press release 3/8/2021 From business side, Pertamina role in global arena is carried out in scope of several activities, namely upstream oil and gas, export and product sales, to shipping cooperation.
Through PT Pertamina Internasional EP (PIEP), Pertamina moves to innovate in acquiring and managing overseas oil and gas fields as well as looking for oil and gas sources in various countries.
The goal is to fulfill domestic oil and gas needs and support national energy security. Until now, Pertamina already has overseas oil and gas field assets spread across 13 countries, namely Algeria, Malaysia, Iraq, Canada, France, Italy, Namibia, Tanzania, Gabon, Nigeria, Colombia, Angola and Venezuela.
Until 2021, PIEP has contributed as much as 49.9 million barrels of oil or a value of around USD2.8 billion which was sent to Indonesia to meet needs of domestic refineries, as well as to contribute to improvement of Indonesia Balance of Payments (Current Account Deficit).
“In total, 76% of oil produced from abroad is sent to domestic refineries to support national energy security. The largest oil contribution came from three assets in Algeria, Malaysia and Iraq,” said Fajriyah Usman, Acting SVP Corporate Communication and Investor Relations at Pertamina.
At same time, Pertamina through Pertamina International Marketing & Distribution Pte. Ltd. (PIMD) continues to expand export of its superior products to global market.
Pertamina various superior products that have been accepted by international market include Avtur, MFO, DCO, HVR-1, LCO and Paraxylene. During January – June 2021, Pertamina product sales volume in export market reached 3,999 MT with a value of USD 1.9 billion.
“PIMD income is supported by upward trend in product prices in line with increase in oil prices and sales volume,” added Fajriyah.
In lubricant business, PT Pertamina Lubricant (PTPL) also strengthens its position in world market. Currently, Pertamina lubricant exports have penetrated 14 countries with largest markets in Asia, Africa and Australia.
Pertamina business movement as a global player is also shown by Pertamina International Shipping (PIS). Eleven PIS fleets have docked and docked at international ports.
Even three managed to obtain a Certificate of Compliance from United States of America Coast Guard. In midst of COVID-19 pandemic, it also succeeded in inaugurating giant tankers VLCC Pertamina Pride and Pertamina Prime and protecting Petronas subsidiaries, namely Petco Trading Labuan Company Limited (PTLCL).
With a Net Profit performance that reached 127% of target this semester, PIS continues to provide best service as an Integrated Marine Logistics Company that is trusted in international market.
“Pertamina incessant business innovation in world market and Pertamina positive performance cannot be separated from restructuring that has been going well so far. So that all Subholdings and subsidiaries have succeeded in focusing on business and being more flexible in business development,” concluded Fajriyah.