Far Above Pertamina, Petronas Achieves Rp159.7 Trillion Profit in 2021

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Vika Azkiya Dihni 08/06/2022 12:40 WIB

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Petronas recorded a net profit of RM48.6 billion (approximately Rp159.7 trillion) in 2021. Meanwhile, Pertamina is projected to have incurred a loss of up to Rp191 trillion.

Net Profit/Loss of Petronas, PTT Thailand, and Pertamina (2020-2021)

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Far Above Pertamina, Petronas Achieves Rp159.7 Trillion Profit in 2021

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Net Profit/Loss of Petronas, PTT Thailand, and Pertamina (2020-2021)

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Malaysia's state-owned oil and gas company, Petroliam Nasional Berhad (Petronas), reported a net profit of RM48.6 billion (approximately Rp159.7 trillion, using an exchange rate of Rp3,286.4 per Malaysian ringgit) in 2021.

Quoting Petronas' official website, this achievement marks a turnaround from the previous year, when the company recorded a loss of RM21.03 billion (equivalent to Rp69.1 trillion).

Petronas' increased net profit was partly driven by a rise in revenue, which reached RM248 billion (approximately Rp814.9 trillion) in 2021, compared to RM178.7 billion (Rp587.4 trillion) in the previous year.

Petronas' performance significantly outpaced that of PT Pertamina (Persero) and Thailand's state-owned oil and gas company, PTT Public Company Ltd (PTT).

PTT achieved a net profit of 108.36 billion baht (approximately Rp45.4 trillion) throughout 2021. This figure increased from 37.7 billion baht (Rp15.8 trillion) in the previous year.

Meanwhile, Pertamina recorded a net profit of US$2.05 billion (Rp29.3 trillion) in 2021. This net profit achievement increased by 95% from the previous year's US$1.05 billion (approximately Rp15 trillion).

Pertamina's net profit was supported by an increase in revenue to US$57.51 billion (approximately Rp835.2 trillion) throughout 2021, a 39% increase from the 2020 achievement of US$41.47 billion (approximately Rp602.2 trillion).

In addition, Pertamina implemented cost-saving measures through several programs, including Cost Saving (US$1.3 billion saved), Cost Optimization (US$2.2 billion saved), Cost Avoidance (US$350 million), and Revenue Enhancement (US$0.5 billion).

"The efficiency efforts undertaken by PT Pertamina also impacted the 2021 profit," said Nicke Widyawati, President Director of PT Pertamina (Persero), as quoted by Katadata.co.id on Thursday, June 9, 2022.

Editor : Adi Ahdiat

"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."