ID :
34968
Wed, 12/10/2008 - 20:40
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Shortlink :
http://m.oananews.org//node/34968
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PERTAMINA OPTIMISTIC PROFIT TARGET TO BE ACHIEVED
Jakarta, Dec 10 (ANTARA) - State-owned oil company PT Pertamina is optimistic its 2008 profit target set at Rp27 trillion will be met despite the drop in the world's price of crude for the past few months.
"In the third quarter this year we record Rp24.59 trillion in pre-audit profit. Several trillions will be added to it so that by the end of the year it will reach Rp27 trillion," the company's president director, Ari Hernanto Soemarno, said at the commemoration of Pertamina's 51st anniversary here on Wednesday.
He said although the world's price of crude dropped he was optimistic the company's profit target would be achieved.
He said Pertamina's revenues came mainly from downstream business activities but its profit mainly came from upstream business activities because profit margin in the sector was bigger.
Through its subsidiaries, he said, Pertamina extended various services in upstream gas and oil activities such as seismic survey, drilling service, refinery service and other oil and gas field activities.
In the downstream sector Pertamina meanwhile mainly carries out its public service obligation (PSO) namely distributing and selling certain fuel oils to the public.
For the service he said Pertamina recieved a profit margin (Alpha) which was determined by the government. This year the amount of the Alpha is nine percent and it will decrease to eight percent in 2009.
"Some of the net profit will be paid into the government account as devidends," he said.
This year the government expects to get around Rp13.5 trillion in devidends from Pertamina. The amount has been reduced from an initial target of Rp15 trillion.
Regarding next year's profit Ari said it would all depend upon the world's crude price as well as the exchange rate of the US dollar against the country's rupiah currency.
He declined to tell about next year's prospect saying he hoped it would all be more under control. He said the world's demand as well as economic growth in the main countries in the world would all affect the price of crude.
Until its 51st anniversary Pertamina has produced 200 billion barrels of oil.
"In the third quarter this year we record Rp24.59 trillion in pre-audit profit. Several trillions will be added to it so that by the end of the year it will reach Rp27 trillion," the company's president director, Ari Hernanto Soemarno, said at the commemoration of Pertamina's 51st anniversary here on Wednesday.
He said although the world's price of crude dropped he was optimistic the company's profit target would be achieved.
He said Pertamina's revenues came mainly from downstream business activities but its profit mainly came from upstream business activities because profit margin in the sector was bigger.
Through its subsidiaries, he said, Pertamina extended various services in upstream gas and oil activities such as seismic survey, drilling service, refinery service and other oil and gas field activities.
In the downstream sector Pertamina meanwhile mainly carries out its public service obligation (PSO) namely distributing and selling certain fuel oils to the public.
For the service he said Pertamina recieved a profit margin (Alpha) which was determined by the government. This year the amount of the Alpha is nine percent and it will decrease to eight percent in 2009.
"Some of the net profit will be paid into the government account as devidends," he said.
This year the government expects to get around Rp13.5 trillion in devidends from Pertamina. The amount has been reduced from an initial target of Rp15 trillion.
Regarding next year's profit Ari said it would all depend upon the world's crude price as well as the exchange rate of the US dollar against the country's rupiah currency.
He declined to tell about next year's prospect saying he hoped it would all be more under control. He said the world's demand as well as economic growth in the main countries in the world would all affect the price of crude.
Until its 51st anniversary Pertamina has produced 200 billion barrels of oil.
