Pertamina Books Net Profit Of IDR 42.1 Trillion Until October 2024

Pertamina (Photo: dock. Antara)

PT Pertamina (Persero) reports that it has posted a net profit of US$2.66 billion or equivalent to Rp42.1 trillion (assuming an exchange rate of Rp15,833 per US dollar) until October 31, 2024.

Deputy President Director Wiko Migantoro said the achievement was supported by the company's revenue which until October was recorded at US$62.5 billion or around Rp989.5 trillion.

"As of October 2024, we have opened a net profit of 2.6 billion US dollars with revenue (income) of 62.5 billion US dollars," said Wiko in a Hearing Meeting with Commission VI DPR RI, Tuesday, December 3.

With this achievement, Wiko admitted that he was optimistic that Pertamina's income at the end of 2024 would match Pertamina's income in 2023.

"We are optimistic that by the end of the year we can match last year's revenue," continued Wiko.

Wiko detailed, in 2022, Pertamina's net profit was recorded at 3.81 billion US dollars with an income of 84.9 billion US dollars. Then in 2023 Pertamkna's net profit also rose to 4.4 billion US dollars even though revenue fell to 75.8 billion US dollars.

He explained that the decline in revenue in 2023 was caused by the weakening of world commodity prices. The weakening condition of commodity prices has made Pertamina's upstream or upstream performance decrease.

"The revenue has decreased because it is dominated by the decline in world commodity prices, so that we can maximize the positions in the downstream to be more profitable, but upstream it is correct because world oil prices are also decreasing," said Wiko.