Pertamina Prints IDR 72 Trillion Net Profit In 2023, Soars 17 Percent

JAKARTA - PT Pertamina (Persero) earned a net profit of US$4.44 billion or equivalent to Rp62 trillion throughout 2023.

Pertamina's Finance Director, Emma Srixid said, the company's total profit reached around Rp72 trillion.

He said Pertamina's performance throughout 2023 was influenced by very uncertain global parameter conditions.

Various global parameters such as weakening the exchange rate and decreasing the ICP are very decisive on how Pertamina can survive amid global uncertainty.

Ema explained, this profit achievement increased by 17 percent from 2022 which amounted to 3.81 billion US dollars.

"We still managed to increase the company's profit by 17 percent, which managed to record a net profit which increased from USD 3.81 billion in 2022 to USD 4.44 billion for the parent entity," Ema said in a Hearing Meeting with Commission VI of the Indonesian House of Representatives, Wednesday, June 12.

Although global conditions are uncertain, Pertamina can improve its operational performance, it can be seen from the increase in oil and gas reduction by 8 percent to 1.44 million BOPD.

Then the refinery intake also increased by 2 percent to 341 million BOPD, Pertamina's sales volume rose by 2 percent to 200 million KL.

Ema continued, Pertamina also faced a number of challenges such as weakening the exchange rate by 3 percent and weakening the ICP by 2 percent.

The increase in the company's net profit is not only supported by operational performance, but also the efficiency and operating reform of Pertamina's model which has yielded results.

"The operational restructuring and organizational structure, the formation of a subholding holding in Pertamina as a whole has yielded results," concluded Ema.