Pertamina 2025: 2024 Profits Dip and New Board of Directors

PT Pertamina (Persero) reported a net profit of US$3.12 billion, or Rp50.95 trillion (assuming an exchange rate of Rp16,300 per US$).

This profit attributable to the parent entity's owners plummeted by 29.61% year-on-year (YoY) from US$4.44 billion, or Rp72.39 trillion, in 2023.

The state-owned company's revenue and sales also experienced a slight decrease. Sales were recorded at US$75.32 billion, or Rp1,227.82 trillion, in 2024, down 0.66% (YoY) from US$75.78 billion, or Rp1,235.34 trillion, in 2023.

Citing Katadata, oil and gas production exceeded 1 million barrels of oil equivalent, making Pertamina a contributor of 69% of national oil and 37% of national gas. In terms of refineries, Pertamina also successfully became the main contributor to national BBM (fuel) production.

"In 2024, oil and gas production remained solid at 1 million barrels of oil equivalent. Furthermore, Pertamina's refinery BBM production successfully met 70% of national BBM needs, with avtur (aviation fuel) and diesel needs fully met from domestic refineries," said Fadjar in a press release on Thursday, June 12, 2025.

Pertamina has also strengthened its energy distribution infrastructure, currently boasting over 15,000 BBM retail outlets, 260,000 LPG base points, 6,700 Pertashop outlets, and 573 One Price BBM locations to distribute energy throughout the country.

Energy distribution is also supported by the operation of 288 vessels. In the gas business, Pertamina operates over 33,000 km of gas transmission and distribution pipelines and approximately 820,000 gas network connections.

Meanwhile, in terms of renewable business development, Pertamina is also a major contributor to the low-carbon business. Pertamina manages 13 geothermal working areas, combined cycle power plants (PLTGU), and solar power plants (PLTS) with a total capacity of 2,502.12 megawatts. Pertamina also produces B35 biofuel, Hydrotreated Vegetable Oil (HVO), Pertamax Green 95, and a Used Cooking Oil (UCO) project for Sustainable Aviation Fuel (SAF).

Fadjar added that Pertamina's contribution to state revenue continues to increase, reaching Rp401.73 trillion from taxes, non-tax state revenues (PNBP), and dividends.

"In 2024, total domestic product absorption (PDN) amounted to Rp415 trillion, which had a multiplier effect on job absorption of 4.1 million people and an increase in Gross Domestic Product (GDP) of Rp702 trillion, contributing to the increase in GDP in 2024," said Fadjar.

The following details Pertamina's net profit, assuming an exchange rate of Rp16,300 per US$:

• 2017: US$2,540,195,000 (Rp41.40 trillion)
• 2018: US$2,526,772,000 (Rp41.19 trillion)
• 2019: US$2,529,342,000 (Rp41.23 trillion)
• 2020: US$1,051,137,000 (Rp17.13 trillion)
• 2021: US$2,045,658,000 (Rp33.94 trillion)
• 2022: US$3,806,776,000 (Rp62.05 trillion)
• 2023: US$4,441,444,000 (Rp72.39 trillion)
• 2024: US$3,125,931,000 (Rp50.95 trillion)

(Read: 20 Largest Gas Producing Companies in Indonesia, Semester I 2024)

New Board of Directors Structure

PT Pertamina (Persero) also reshuffled its Board of Commissioners and Directors at its Annual General Meeting of Shareholders (RUPS) on Thursday, June 12, 2025. This SOE Annual General Meeting, among other things, appointed Todotua Pasaribu, currently serving as Deputy Minister of Investment and Downstream Industry, as Deputy Chief Commissioner.

Board of Directors

• President Director: Simon Aloysius Mantiri
• Vice President Director: Oki Muraza
• Director of Risk Management: Ahmad Siddik Badruddin
• Director of Strategy, Portfolio, and Business Development: A. Salyadi Dariah Saputra
• Director of Logistics and Infrastructure: Jaffee Arizon Suardin
• Director of Finance: Emma Sri Martini
• Director of Business Support: M. Erry Sugiharto
• Director of Transformation and Business Sustainability: Agung Wicaksono
• Director of Human Resources: Andy Arvianto

Board of Commissioners

• Chief Commissioner & Independent Commissioner: Mochammad Iriawan
• Deputy Chief Commissioner: Todotua Pasaribu
• Independent Commissioner: Condro Kirono
• Independent Commissioner: Raden Ajeng Sondaryani
• Independent Commissioner: Nanik S. Deyang
• Commissioner: Bambang Suswantono
• Commissioner: Heru Pambudi

(Read Katadata: Pertamina's Board of Directors and Commissioners Restructured, Deputy Minister of Investment Becomes Deputy Chief Commissioner)