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PT Perusahaan Gas Negara Tbk (PGN) recorded revenue of US$836.9 million in Q1 2022.
This gas subholding of PT Pertamina (Persero) saw a 14% increase from US$733.15 million in Q1 2021.
Net profit also surged 93% to US$118.5 million in the same period. In Q1 2021, net profit was recorded at US$61.5 million.
Oil and gas lifting volume reportedly increased to 25,557 barrels of oil equivalent per day (BOEPD) in Q1 2022. This volume is larger than the 15,562 BOEPD in the same period last year.
The increase in the Indonesian Crude Price (ICP) also contributed to PGN's improved performance.
In March 2022, the ICP reached US$113.5 per barrel, the highest since 2013.
PGN's total customers reached 750,660 by March 2022. This comprises 746,307 household customers, 2,446 industrial and commercial customers, and 1,907 small customers.
"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."
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