Pertamina Refinery Manages 340.91 Million Barels Of Crude Oil Throughout 2023

JAKARTA - PT Kilang Pertamina Internasional (KPI) achieved positive performance in 2023.

"KPI has made it through 2023 well. This is marked by the positive achievements of the company which was conveyed by the Board of Directors to Shareholders today," said President Director of PT KPI, Taufik Aditiyawarman, Thursday, June 13.

Throughout 2023 KPI succeeded in processing crude oil of around 340.91 million barrels, an increase from the previous year of 333.06 million barrels with 274.80 million barrels of fuel product production increased by 5.15 percent from the previous year of 261.35 million barrels.

Taufik said that one of the biggest challenges faced by KPI in 2023 was the prolonged geopolitical conflict in Europe and the Middle East which also had a very big impact on the global economy.

"This conflict affects supply chains and prices for energy and food commodities as well as the surge in global inflation," he continued.

In the midst of these challenges, according to Taufik, KPI remains focused on carrying out its mandate to support national energy security.

"KPI must be able to meet national energy needs, especially in the provision of fuel oil for the community and industry in coordination with Pertamina Group. On the other hand, KPI is also expected to have good profitability," said Taufik.

In 2023, KPI affirms its commitment to leading and pioneers in developing drop-in renewable fuel, especially the Sustainable Aviation Fuel (SAF) or Bioavtur, which is the answer for the decarbonization of the civil aviation industry and has met the requirements of strict safety aspects.

"SaF innovation is KPI's effort in responding to business challenges and market needs related to renewable fuel and low emissions in the civil aviation industry as well as supporting the Government's commitment to achieving the Net Zero Emission (NZE) target," said Taufik.

In addition, KPI continues to innovate in developing environmentally friendly products. This effort includes the development and production of environmentally friendly fuels such as Pertamina RD, which remains the focus even in challenging market conditions.

"KPI also continues to show our commitment to net energy production through products such as HVO, LSFO V 1250, Musicool, and Biosolar 30 (B30), all of which show PT KPI's dedication to its decarbonization and sustainability initiatives," said Taufik.

With the condition of predictions of Indonesia's stable economic growth in 2024, said Taufik, KPI will optimize its assets to innovate and operate in end-to-end business management starting from crude selection to refinery operations and product distribution.

"This year, KPI is making efforts to be able to meet the targets charged and at the same time record profitability," said Taufik.

The optimism of KPI's Board of Directors has received full support from Shareholders of PT Pertamina (Persero). Director of Risk Management of PT Pertamina (Persero) Ahmad Siddik Badruddin reminded KPI Directors to focus on business development plans in 2024 and the Company's Long-Term Plan that has been prepared.

He also reminded the consistency of the implementation of HSSE aspects in all KPI operations and projects. Regarding investment, KPI is asked to continue to maintain project implementation in accordance with the quality, timeframe, costs and applicable regulations.