Pertamina's 2020 Revenue Primarily Driven by Downstream Sector

PT Pertamina Persero recorded US$17.45 billion in revenue in 2020.

According to its financial report, the downstream sector contributed more to PT Pertamina Persero's revenue that year than the upstream sector.

Downstream business activities include processing, marketing, trading, shipping, and distribution of downstream products both domestically and internationally.

In 2020, PT Pertamina Persero's downstream subsidiaries contributed US$8.97 billion in revenue, comprising:

* Revenue from the commercial and trading segment: US$4.51 billion
* Revenue from the gas segment: US$3.29 billion
* Revenue from the power and renewable energy segment: US$356.10 million
* Revenue from the shipping segment: US$808.73 million.

In the downstream sector, one segment, namely the processing and petrochemical segment, recorded no revenue.

Meanwhile, in 2020, PT Pertamina Persero's upstream subsidiaries contributed US$8.47 billion in revenue.

Upstream activities include exploration, drilling, development and production of oil, gas and geothermal energy, provision of technology services, and drilling and services both domestically and internationally.