Pertamina Posts Net Profit of Rp 15.6 Trillion in 2020

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Yosepha Pusparisa 15/06/2021 16:00 WIB

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Pertamina (Persero) reported a consolidated net profit (audited) of US$1.1 billion in 2020. This figure plummeted 58.4% compared to 2019, which reached US$2.53 billion.

PT Pertamina (Persero)'s Net Profit (2016-2020)

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Pertamina Posts Net Profit of Rp 15.6 Trillion in 2020

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PT Pertamina (Persero)'s Net Profit (2016-2020)

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PT Pertamina (Persero) reported an audited consolidated net profit of US$1.1 billion, or Rp15.6 trillion (using an exchange rate of Rp14,200/US$), in 2020. This figure plummeted 58.4% compared to 2019, when it reached US$2.53 billion.

The decline in Pertamina's net profit last year was the largest since 2016. Previously, the state-owned company also experienced a significant decrease in net profit of 19.3% in 2017, resulting in a net profit of only US$2.54 billion.

The sharp drop in Pertamina's net profit in 2020 coincided with the impact of the Covid-19 coronavirus pandemic on the global economy and the global oil industry. This led to a decrease in energy demand and world oil prices.

According to Pertamina's 2020 financial report, the company's total sales and revenue amounted to US$41.46 billion. This is a 24.32% decrease compared to 2019, when it reached US$54.79 billion.

This revenue was supported by sales of crude oil, natural gas, geothermal energy, and domestic oil products, totaling US$33.03 billion in 2020. Meanwhile, export sales amounted to US$3.83 billion last year.

Editor : Dimas Jarot Bayu

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."