JAKARTA - Pertamina's success in penetrating Fortune Global 500 again in 2025, is considered as proof that the BUMN has implemented excellent governance (GCG) very well. This was conveyed by the senior economist of the Institute for Development of Economics and Finance (INDEF), Tauhid Ahmad.
Tauhid assessed that the implementation of good governance in Pertamina, including the principles of transparency and accountability, had a very positive impact on Pertamina's financial performance. Through the implementation of GCG, Pertamina is also considered capable of implementing various innovations such as digitization, so that it is getting better in carrying out sustainable business transformations.
"Yes, of course (because of the implementation of business transformation and innovation). The point is that Pertamina's GCG has gone well," Tauhid explained to the media today, Wednesday, August 6.
According to Tauhid, this achievement is certainly very positive. Moreover, Pertamina is the only SOE that has succeeded in penetrating Fortune Global 500 for more than a decade. In this context, Tauhid agreed, this condition also proves that Pertamina's financial performance is indeed very tested.
Pertamina is always in the largest and leading position. It can be seen that Pertamina is also a contributor to dividends to the largest country. The energy sector is indeed the most promising, outside of banking. Then the telecommunications sector," he said.
"Moreover, in 2024 the Government will pay debts to Pertamina in the procurement of subsidized fuel so that it will automatically continue to improve Pertamina's performance," he continued.
Previously, Fortune Magazine released Fortune Global 500. In this prestigious ranking, Pertamina managed to rank 171. As for Fortune South East Asia 500, the Danantara Indonesia portfolio company is ranked third.
In Fortune Global 500, Pertamina's position is higher than other international oil companies (IOC). Spanish energy company Repsol, for example, is in 260th position. While ConocoPhillips is in 245th place.
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Meanwhile, at the Fortune South East Asia 500, Pertamina, which occupies the third position, is far above Petronas in 44th place.
This achievement, explained Tauhid, shows that Pertamina has high competitiveness at the global level. Thus, it is hoped that investors will not hesitate to invest in the state-owned company.
"Moreover, our oil and gas needs are still very high," concluded Tauhid.
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