ID :
42209
Thu, 01/22/2009 - 21:19
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Shortlink :
https://www.oananews.org//node/42209
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PERTAMINA'S 2009 NET PROFIT TO DROP 60 PCT
Jakarta, Jan 22 (ANTARA) - State-owned oil company PT Pertamina's consolidated net profit in 2009 is predicted to reach Rp12 trillion or to drop 60 percent from Rp30 trillion predicted for 2008.
"The prediction is based upon the price of Indonesian crude which is assumed at US$45 per barrel or lower than the 2008 assumed avarege price of US$101 per barrel," its finance director, Frederick Siahaan, said after a general shareholders' meeting at the office of the state enterprise minister here on Thursday.
He said the company's corporate earnings would also drop to around Rp311 trillion compared to Rp540 trillion projected before.
He said next year oil production was expected to reach 72 million barrels or rose from 62.8 million barrels in 2008.
He said in 2009 the company would focus on the upstream sector including exploration and production.
The company will also promote expansion in the downstream sector by increasing infrastructures including for liquified petroleum gas, he said.
He said in 2009 the company would invest Rp12.6 trillion including Rp12.6 trillion for downstream business development.
He said 60 percent of the cost of investment in 2009 would
be taken from internal funds while the rest from banking loans or bonds.
"It will be combined to see which one is the most profitable for the company," he said.
Frederick said based on the work plan and government budget the company also agreed to continue with its plan to make the company a public non-listed company.
"In 2009 we will make Pertamina a public non-listed company. We are waiting for the conclusion of the audit and the issuance of government regulation on public non-listed companies," he said.
"The prediction is based upon the price of Indonesian crude which is assumed at US$45 per barrel or lower than the 2008 assumed avarege price of US$101 per barrel," its finance director, Frederick Siahaan, said after a general shareholders' meeting at the office of the state enterprise minister here on Thursday.
He said the company's corporate earnings would also drop to around Rp311 trillion compared to Rp540 trillion projected before.
He said next year oil production was expected to reach 72 million barrels or rose from 62.8 million barrels in 2008.
He said in 2009 the company would focus on the upstream sector including exploration and production.
The company will also promote expansion in the downstream sector by increasing infrastructures including for liquified petroleum gas, he said.
He said in 2009 the company would invest Rp12.6 trillion including Rp12.6 trillion for downstream business development.
He said 60 percent of the cost of investment in 2009 would
be taken from internal funds while the rest from banking loans or bonds.
"It will be combined to see which one is the most profitable for the company," he said.
Frederick said based on the work plan and government budget the company also agreed to continue with its plan to make the company a public non-listed company.
"In 2009 we will make Pertamina a public non-listed company. We are waiting for the conclusion of the audit and the issuance of government regulation on public non-listed companies," he said.
