Erick Thohir Asks Pertamina Not To Be Compared To Petronas, Why?

Illustration (Photo: Doc. Antara)

JAKARTA - Minister of State-Owned Enterprises (BUMN), Erick Thohir, said the performance of PT Pertamina could not be compared to Petronas, an oil and gas company from Malaysia.

Because there are differences between the two companies.

Erick said Pertamina as a state-owned company has a responsibility to maintain services to the community.

In addition, Pertamina is also required to support government programs.

In addition, continued Erick, Petronas produces its own oil and gas. Meanwhile, Pertamina is still importing oil.

For your information, Pertamina is compared to Petronas after the company from the neighboring country generates a much larger profit than Pertamina. This includes the issue of the price of fuel oil (BBM) sold by Petronas, which is cheaper than Pertamina.

“It cannot be compared, for example, Pertamina and Petronas, they are different. Because Petronas is still producing (own oil), if we are an importing country, the conditions are different", said Erick at the National Library Building, quoted on Thursday, August 4.

Erick said several assignments carried out by Pertamina had an impact on the company's cash flow. Therefore, the government provides support through the certainty of providing subsidized funds.

"The government's support ensures that Pertamina's cashflow is maintained, so yesterday it was as if Pertamina had lost, not lost, there was a difference between cashflow and loss. Cashflow means a deficit because the money has not been replaced (the government), the subsidy money. So, in terms of cash flow, it is a deficit, but once it is replaced, it means that Pertamina's cash flow is improving", explained Erick.

Regarding the price of fuel sold by Pertamina, said Erick, such Pertamax is still below the price of the same class of fuel RON 92 owned by competitors or private business entities in the country.

Meanwhile, the price of Pertalite, continued Erick, is far below the market price of IDR 7,650 per liter.

This is because Pertalite is a type of special assignment fuel oil (JBKP).

"How many months has the price of Pertamax been different? And Pertalite is also the price on the market. That proves again that the government is here", he said.