Pertamina's US$1.83 Billion Profit Beats Shell's

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26/08/2016 15:54 WIB

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Profits/Losses of Global Oil and Gas Companies

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Profits/Losses of Global Oil and Gas Companies

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In the first half of 2016, Pertamina surpassed the profits of the multinational oil company, Shell. The Indonesian national oil company recorded a profit of US$1.83 billion, exceeding Shell's profit of US$1.66 billion. However, Pertamina's profit was still less than ExxonMobil's.

The fall in global oil prices to below US$30 per barrel significantly burdened the financial performance of global oil and gas companies. Multinational oil and gas companies such as Chevron and Pemex even recorded substantial losses in the first half of 2016.

"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."