pertamina – PressAP

ACN Newswire

Pertamina International Shipping (PIS) Secures Collaboration Agreements with Global Partners

January 7, 2023

JAKARTA, Jan 7, 2023 - (ACN Newswire via SEAPRWire.com) - PT Pertamina International Shipping (PIS) has secured two collaboration agreements with global partners. The signings were held with the inauguration of the PIS branch office in Dubai, UAE (PIS ME) on December 23, 2022. PIS signs MoC with Elite Tankship, signed by the CEO of Elite Tankship, Mangish Kakodkar, and the Director of Operations of PIS, Brilian Perdana. Witnessed by CEO PIS, Yoki Firnandi, President Director Pertamina, Nicke Widyawati, President Commissioner Pertamina, Basuki Tjahaja Purnama, and H.E Ambassador of Indonesia for UAE, Husin Bagis.PIS signed a Heads of Agreement (HoA) with BGN International DMCC (BGN), and a Memorandum of Collaboration (MoC) with Elite Tankship Pte Ltd (Elite Tankship).The HoA with BGN was signed by the CEO of BGN Group, Ruya Bayegan, and the CEO of PIS, Yoki Firnandi. The agreement addresses a Joint Venture (JV) establishment by the two companies for the acquisition, maintenance, and operation of VLGC (Very Large Gas Carriers) vessels and/or other types of vessels.BGN, headquartered in the UAE, is one of the world's largest LPG (Liquified Petroleum Gas) trading companies and the largest LPG importer in Indonesia. "The VLGC business will support BGN's imports of Pertamina's LPG. At some point, it might endorse the cargo market of ammonia," said Commercial Director of PIS, Arief Sukmara. The MoC with Elite Tankship addresses Clean Petroleum Products (CPP), Dirty Petroleum Products (DPP), gas, and other commodities needed in the Middle East, and other areas covered by the parties. The MoC was signed by the Elite Tankship CEO Mangish Kakodkar, and PIS Director of Operations and Managing Director Brilian Perdana.Elite Tankship, headquartered in Singapore, established collaboration with PIS in chartering the VLCC Pertamina Prime, the largest owned vessel and the company's pride, in May 2022 for a six-year contract period.About PT Pertamina International Shipping (PIS) Pte LtdAs the Integrated Marine Logistics Subholding, PT Pertamina International Shipping (PIS) supports Indonesia's economic growth through safe and sustainable operation, becomes a trusted and reliable maritime partner, and promotes value for stakeholders through running its business. https://pertamina-pis.com/. Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Pertamina supports NZE realization through decarbonization initiatives

November 15, 2022

JAKARTA, Nov 15, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned energy company PT Pertamina committed to support the Indonesian government to achieve net zero emissions (NZE) by 2060 through the decarbonization initiatives program currently implemented by the company.Senior Vice President of Strategy and Investment of Pertamina Daniel Purba speaks at a discussion organized on the sidelines of COP27, at the Indonesian Pavilion in Sharm el-Sheikh, Egypt on Friday (November 11, 2022). (ANTARA/HO-PT Pertamina)Senior vice president of strategy and investment at Pertamina Daniel S Purba conveyed this information during an ASEAN Panel Discussion on the sidelines of COP27 in Sharm el-Sheikh, Egypt on Friday (November 11, 2022).At the discussion, Purba delivered a presentation on "Decarbonizing the ASEAN Way - Harnessing the Collective Actions of ASEAN Private Sectors Driving Net-Zero: Pertamina's Overarching Plan in Decarbonization".He explained that Pertamina as a state-owned energy company has the responsibility to provide energy needs in Indonesia - a country with a population of nearly 300 million people with high energy demand."At the same time, Indonesia has a strong commitment to achieve net zero emissions by 2060, and Pertamina as a state-owned company fully supports this commitment," Purba said."Pertamina has now developed a clear program for efforts to achieve the target of net zero emissions by 2060, even more ... if possible, we want to reach the target faster by 2050," he added.He further added that Pertamina views the energy transition effort as a good opportunity to build a green business.Such a view, according to him, is part of the main mission to ensure the company remains sustainable and grows in line with efforts to fulfill the commitment to achieving net zero emissions through a detailed decarbonization program in accordance with the company's well-prepared NZE roadmap."Pertamina has prepared a decarbonization plan especially for its existing businesses, for instance by reducing gas flaring, using renewable energy in all of our activities both upstream, production sites, shipping transportation and even batteries," Purba pointed out.In addition, regarding the implementation of Environmental Social and Governance (ESG) aspects, Pertamina is currently at the medium risk level and at the second place for the category of the best ESG score in the oil and gas industry, based on Sustainalytics - an ESG rating agency that has conducted assessment towards the company.Meanwhile, stakeholders, investors, rating agencies and insurance companies are also interested in finding out and learning about how Pertamina - as an oil and gas company - manages ESG aspects in its efforts to produce sustainable energy.At the ASEAN Panel Discussion of the COP 27, Purba said that a number of ASEAN countries actually have considerable energy resource potential, such as to produce LNG and gas.He mentioned ASEAN countries that have such a potential including Indonesia, Malaysia, Thailand and Brunei Darussalam.He also revealed that the low carbon energy transition is a very good practice to be implemented by ASEAN countries in order to reduce the carbon footprint in the region.Furthermore, still on the effort of reducing carbon footprint, Purba highlighted that Indonesia owns many forests that have the potential to be utilized in the aspect of nature based solutions."Therefore, collaboration (among ASEAN countries) can be a brilliant idea because each country has a different position and potential so we hope that the collaboration can establish a carbon market in the ASEAN region," he stated."However, this certainly requires concrete steps from all parties so that we can really collaborate together to achieve the net zero emission target," he concluded.Contact: Brahmantya Satyamurti Poerwadi, Corporate Secretary, PT Pertamina (Persero)Email: pcc135@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

COP27 inspires global community to tackle climate change: Pertamina

November 14, 2022

JAKARTA, Nov 14, 2022 - (ACN Newswire via SEAPRWire.com) - The UN Climate Change Conference (COP27) 2022 can inspire the global community and all parties to increase contribution to tackling climate change, according to Senior Vice President of Strategy and Investment of Pertamina Daniel Purba.Senior Vice President of Strategy and Investment of Pertamina Daniel Purba speaks at a discussion organized on the sidelines of COP27, at the Indonesian Pavilion in Sharm el-Sheikh, Egypt on Friday (November 11, 2022). (ANTARA/HO-PT Pertamina)"Sometimes when we work only focusing on our own sector, we never think about a global point of view. So I'm sure this COP27 will inspire and encourage everyone to think globally in order to accelerate contributions in dealing with climate change through industries that we each work on," Purba said during a discussion organized on the sidelines of COP27, at the Indonesian Pavilion in Sharm el-Sheikh, Egypt on Friday (November 11) .Reducing carbon emissions is one of the ways to tackle climate change, Purba added.Through the COP27 event, he continued, all nations around the world are reminded that there is still a lot of work to do to save planet Earth from the impacts of climate change, and it is not only for the benefit of future generations, but also for the sustainability of the business environment."I hope that after the implementation of COP27, everyone will realize that they have to play a role in saving the Earth. And that effort is not just a jargon, but must become a reality, our mindset and lifestyle that encourage us to save our planet," Purba said.As a concrete step to tackle climate change, Indonesia is committed to achieving net zero emissions (NZE) by 2060, and Pertamina is supporting the realization of that commitment by decarbonizing its existing businesses and developing green businesses."Currently Indonesia has committed to achieving net zero emissions by 2060 so that Pertamina, as a state-owned company, supports this commitment and we have also prepared various work programs to achieve this national (NZE) target," he pointed out.The decarbonization measures taken by the company include encouraging energy efficiency, zero-flare oil and gas activities, as well as carbon capture and utilization.Apart from that, Pertamina has also developed a number of green business initiatives, including those related to biofuels, renewable energy, batteries and electric vehicles, hydrogen as well as carbon businesses."Of course, we also view the energy transition period as a very good opportunity for us to build some green businesses," Purba said.In addition, Pertamina is also committed to allocating 14 percent of the projected capital expenditure for the 2022-2060 period, which is worth US$70-80 billion, for the development of clean, new and renewable energy.Contact: Brahmantya Satyamurti Poerwadi, Corporate Secretary, PT Pertamina (Persero)Email: pcc135@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Pertamina striving to decarbonize business to tackle climate change

November 13, 2022

JAKARTA, Nov 13, 2022 - (ACN Newswire via SEAPRWire.com) - Pertamina is making efforts to decarbonize its business and develop green businesses to support global climate change mitigation and the achievement of Indonesia's 2060 net-zero emissions target.(ANTARA News Sumsel/Nova Wahyudi/dol)"We have two main ways for dealing with climate change; first, we have to decarbonize our carbon assets and business," Senior Vice President of Strategy and Investment at Pertamina Daniel S. Purba said.He made the statement during a discussion at the Indonesian Pavilion on the sidelines of COP27 in Sharm el-Sheikh, Egypt, on Friday (November 11, 2022).To decarbonize its business, Pertamina has started to change its business portfolio by promoting low-carbon energy as well as new and renewable energy at its existing businesses and operations, Purba informed."Since it is still economically expensive to introduce the use of renewable energy, the market is not really ready for it. However, for Pertamina, we have started with our own businesses. We can't wait for the market to be ready immediately, but we have started with our own operations," he said.The company's second climate change mitigation effort involves developing new businesses related to green energy with a number of targets set for biofuels; hydrogen; carbon capture, utilization, and storage; renewable energy; batteries and electric vehicles; and also the carbon business.Thus, the company's revenue will continue to flow even though the carbon business will be reduced and the company has started to decarbonize its business, Daniel explained.To fulfill its commitment to achieving net zero emissions by 2060, Pertamina will slash its carbon emissions by almost 30 million tons by 2030 and reduce around 30-40 million tons of carbon per year by 2060. For that, the company needs to start taking carbon reduction measures from now onward.In fact, in the period from 2010 to 2021, Pertamina has succeeded in reducing greenhouse gas emissions by 29.09 percent."Those two main ways that we have in our road map for climate change mitigation for years to come are by implementing some well-prepared, detailed, and clear programs and strong initiatives in our business groups. So, we are not only dealing with our current carbon business, but also starting to deal with new and renewable energy businesses," Purba said.He further said that the asset decarbonization road map is being implemented by Pertamina in each of its business lines, starting from upstream, refineries and petrochemicals, oil, commercial and trade, gas production, integrated marine logistics, and new renewable energy-based power plants."There are hundreds of programs behind this road map scheme, and each of our business group entities has committed to applying it," he added.To ensure that the decarbonization commitment runs in every line of its business, Pertamina has included the commitment target in the key performance indicators of each business entity."So, if you don't reach the target, it will have an impact on your income. This is to ensure that all parties work very hard and are committed to achieving the target," Purba said.Apart from the oil and gas business, Pertamina is also developing the electric vehicle ecosystem in Indonesia by not only producing batteries, but also dealing with all supply chain businesses in the electric vehicle ecosystem.Contact: Brahmantya Satyamurti Poerwadi, Corporate Secretary, PT Pertamina (Persero)Email: pcc135@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Rahmad Nasution (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Pertamina develops green business to support emission reduction

November 9, 2022

JAKARTA, Nov 9, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned energy company PT Pertamina develops a number of green business initiatives to support Indonesia's goal to achieve net zero emission by 2060.CEO of PT Pertamina Power Indonesia Dannif Danusaputro (ANTARA/HO-Humas PT Pertamina)The company has been investing in biofuels, renewable energy, carbon capture, utilization and storage, battery and electric vehicles, hydrogen as well as the carbon business."Pertamina is committed to supporting the Indonesia government's commitment to achieve net zero by 2060 or sooner. Therefore, our business strategy consists of two pillars, namely decarbonizing our core business and developing a green business," CEO of Pertamina Power Indonesia Dannif Danusaputro stated at the Indonesia Pavilion at COP27 in Sharm El Sheikh, Egypt, on Sunday (November 6).He explained that Pertamina committed to allocating 14 percent of the projected 2022-2060 capital expenditure of US$70-80 billion US for the development of clean, new and renewable energy (NRE).This commitment is in line with efforts to use domestic resources to supply domestic energy towards green development and decarbonization.Pertamina also builds an integrated oil and gas supply chain to supply domestic needs and actively builds NRE portfolio using domestic resources.The company will develop a greener energy mix by reducing the share of refined products and LPG from 81 percent to 61 percent, increasing the share of gas from three percent to 19 percent and increasing the share of NRE from one percent to 17 percent.Considering a large investment required for the development of green business and clean technology to support the energy transition, Pertamina cooperates with national and global partners to explore partnerships in decarbonization programs, green businesses as well as accelerate the growth of EBT to achieve net zero emissions.Banks can also invest in these green business initiatives.The affordability of the clean energy transition will depend on reducing costs and increasing the availability of capital," Danusaputro said.In order to support the energy transition in Indonesia, Pertamina is also optimizing the potential and increasing the installed capacity of NRE where the company has pioneered the use of NRE in Indonesia with a total capacity of 60 GW by 2060.Pertamina will also commercialize green and blue hydrogen and take a strategic role in Indonesia's integrated battery and energy storage ecosystem through the development of the battery-powered electric vehicle industry in collaboration with several state-owned companies.In addition, Pertamina is making efforts to increase refinery capacity to produce green fuel. Through several processes at the green refinery, Pertamina produces high-quality and more environmentally friendly fuel derived from palm oil including biodiesel, green diesel, green avtur and green gasoline.Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.comWritten by: Yashinta Difa Pramudyani, Editor: Fardah Assegaf (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Pertamina supports Indonesia’s goal to reach net zero emissions by 2060

November 7, 2022

JAKARTA, Nov 7, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned energy company PT Pertamina (Persero) supports Indonesia's aspiration to reach net zero emissions by 2060.A screenshot of Pertamina's president director and CEO Nicke Widyawati during a panel discussion of UN Climate Change Conference (COP27) in Sharm El Sheikh, Egypt, on Sunday (6/11/2022). (ANTARA/Bayu)Indonesia has increased its greenhouse gas (GHG) emission reduction target to 31.89 percent, with its efforts, and 43.20 percent, with international assistance, through the Enhanced Nationally Determined Contribution (NDC) document."In terms of emission reduction, Pertamina has set a target of 30 percent emission reduction in 2030, versus our 2010 baseline," Pertamina's president director and CEO Nicke Widyawati said in a panel discussion of UN Climate Change Conference (COP27) in Sharm El Sheikh, Egypt, on Sunday.In 2021, Pertamina have succeeded in reducing GHG emissions by 7.4 million metric tons of carbon dioxide equivalents or 29.09 percent compared to the 2010 baseline.This emission reduction is achieved by reducing non-routine emissions from the process, which is utilized for own-use fuel and gas supply to customers as much as 69,7 percent, using more efficient equipment which is included in Energy Efficiency Program, contributed 13.9 percent, using energy from low carbon source that contributes 16,2 percent and other activities.In order to reach net zero aspirations, Pertamina has developed a holistic strategy delivered via two pillars, which are the decarbonization of its business activities and the development of new green business; as well as three enablers namely developing carbon accounting standards that already approved by national and international regulation, and also the implementation of Pertamina Internal Carbon Price, building sustainability organization that will oversee Pertamina business are on the right track for its Net Zero Roadmap goals and stakeholder engagement to fully support national NZE target and commitment.Such a goal is supported by the company's long-term investment strategy. Pertamina's cumulative CAPEX up to 2060 for the Green Business Initiatives is estimated at around US$40 billion for biofuels, renewable energy sources, CCS/CCUS, battery and EV ecosystem, hydrogen, and carbon business.Widyawati added that Pertamina accelerates green business development from upstream to downstream through the whole integrated value chain.Pertamina is committed to supporting the Indonesian government's commitment to achieving net zero by 2060 or sooner. As an energy company, Pertamina has a big responsibility to be a pillar of achieving net zero emissions in Indonesia, on the principles of affordability and fairness," she concluded. Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.comWritten by: Yashinta Difa Pramudyani, Editor: Bayu Prasetyo (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Aggresive in Global Market Expansion, PIS Meets BP, Shell, and Exxon in Singapore

September 4, 2022

SINGAPORE, Sep 3, 2022 - (ACN Newswire via SEAPRWire.com) - Pertamina International Shipping (PIS) is increasingly targeting consumers in the international market. In addition to this expansion, PIS strives to continuously improve the quality and standard of service by exchanging knowledge and experiences with world energy companies.PT Pertamina International Shipping (PIS), in cooperation with PIS Pte Ltd (PIS PL), hosted a sharing session with BP Singapore Pte. Limited, Shell International Eastern Trading Co (SIETCO), and ExxonMobil Asia Pacific Pte Ltd. The meeting was held at the offices of each energy company on August 24-25, 2022, in Singapore.PIS, in cooperation with PIS Pte Ltd (PIS PL), hosted a sharing session with BP Singapore Pte. Limited, Shell International Eastern Trading Co (SIETCO), and ExxonMobil Asia Pacific Pte Ltd. The meeting was held at the offices of each energy company on August 24-25, 2022, in Singapore.During the sharing session, PIS discussed vetting, inspection, and vessel acceptance or vessel examination and inspection. The event was attended by PIS Director of Operations Arief Kurnia Risdianto, PIS PL Managing Director Brilian Perdana, Crude and Gas Operation (CGO) Vice President Harris Abdi Sembiring, and PIS Loss Prevention Safety Quality (LPSQ) Manager Soleh Komaruddin.BP Singapore Pte Ltd Vetting and Clearance Senior Manager, ExxonMobil Asia Pacific Pte Ltd Asia Pacific Supply Coordinator, ExxonMobil Asia Pacific Pte Ltd Mogas Lead, ExxonMobil Asia Pacific Pte Ltd Global Senior Marine Operations, SIETCO Mogas Operation Team Lead, SIETCO Head of Marine, SIETCO Senior Originator, and more were also in attendance at this meeting.The meeting was also a PIS endeavor to escalate acceptance of its ships at the terminals of world energy participants such as BP, Shell, and Exxon to showcase the existence and quality of PIS in international settings. In the maritime and energy sectors, these companies are significant participants that dominate the tanker chartering market called the Seven Sisters.PIS Director of Operations, Arief Kurnia Risdianto, explained PIS performance which has now explored 12 international routes. PIS ships have met international shipping standards, including the Paris MOU for sailing requirements on the European continent and a Certificate of Compliance from the United States Coast Guard (USCG)."PIS is the largest tanker operator in Southeast Asia, currently operating around 439 vessels with extensive experience serving the domestic and regional market," he said.Experience of PIS in serving the regional market is recorded by many international customers, including Vitol, Petronas, Trafigura, BP, Badak LNG, ExxonMobil, Petrobras, Chevron, Saudi Aramco, Shell, and many more.As the Integrated Marine Logistics Sub Holding of PT Pertamina (Persero), PIS business includes shipping, marine services, port services, port and jetty management (port ownership), storage tanks, and other related services.PIS owns two VLCCs, namely, Pertamina Pride and Pertamina Prime, with a capacity of 2 million barrels and incurs the Eco-Green Vessel concept. The two VLCCs are tangible manifestations of PIS endeavor to lead the marine and logistics business in both domestic and international markets.Besides oil and gas, PIS expands its business potential to various segments and cargo types, including petrochemicals with medium-range chemical-specific vessel assets called PIS Precious.In the meantime, to comply with regional trading and improve its role in the global market, Tanjung Uban offers an integrated terminal managed by the PIS subsidiary.PIS CEO Erry Widiastono said that the company has prepared a roadmap to support energy transition programs. "PIS will anticipate the future of vessels business, specifically the greener vessels. For example, vessels responsible for gas shipping such as LPG, LNG, and many others. In the future, we will anticipate the progress of the renewable energy sector," said Erry.About Pertamina International Shipping (PIS)As the Integrated Marine Logistics Sub Holding, PT Pertamina International Shipping (PIS) consistently stimulates Indonesia's economic growth through safe and sustainable operation, becomes a trusted and reliable maritime partner, and promotes value for the stakeholders in running their business. See https://pertamina-pis.com/. Media Contact:M Aryomekka FirdausCorporate SecretaryM: +62-811-872-272E: aryomekka@pertamina.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Pertamina saves US$402.46 million amid rising global oil prices

September 3, 2022

JAKARTA, Sep 3, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned oil and gas company PT Pertamina succeeded in saving operational costs of around Rp6 trillion (US$402.46 million) until July 2022 through several efficiency programs amid rising world oil prices that increased fuel production costs.PT Pertamina head office building (ANTARA/HO-PT Pertamina)She explained that energy companies around the world are facing difficult situations as a result of disruption of the global energy supply chain due to the Russia-Ukraine conflict. The global trade mobility leading to post-pandemic recovery was jolted by limited supply that led to an energy crisis.The president director noted that the Indonesian government's policy of maintaining the people's purchasing power through fuel subsidies was the proper measure to accelerate economic recovery.According to Widyawati, the accuracy of the policy is reflected in the fuel consumption increase for community mobility and business activities.Pertamina President Director Nicke Widyawati stated that such a success could not be separated from strategic cost-saving measures taken by the company group since the start of this year.She explained that energy companies around the world are facing difficult situations as a result of disruption of the global energy supply chain due to the Russia-Ukraine conflict. The global trade mobility leading to post-pandemic recovery was jolted by limited supply that led to an energy crisis.The president director noted that the Indonesian government's policy of maintaining the people's purchasing power through fuel subsidies was the proper measure to accelerate economic recovery.According to Widyawati, the accuracy of the policy is reflected in the fuel consumption increase for community mobility and business activities.On the other hand, she also pointed out that the increase in fuel consumption had caused an increase in the burden of government subsidies."We understand the heavy burden of the government's fuel subsidy, and for that Pertamina carries out various cost-saving programs in order to help reduce the burden," she stated.She remarked that the largest chunk of the company's cost of fuel production is for the purchase of crude oil, which accounts for 92 percent of the production costs.Fortunately, investment in upgrading the Pertamina Oil Refinery, which had been conducted in the last four years, had succeeded in increasing the flexibility of crude oil availability.It means, if so far, the Pertamina refinery has only been able to process certain crude oil that is expensive, but starting last year, it has been able to process crude oil, with a higher sulfur content, which is cheaper and can be gained from many sources," Widyawati stated.This is Pertamina's strategic move that has succeeded in significantly reducing fuel production costs, she affirmed.In addition, the company's energy efficiency efforts in all operational areas -- from upstream to downstream -- had caused significant cost savings while also contributing to a reduction in carbon emissions."The post-restructuring breakthrough, which is also significant to achieve Pertamina Group's efficiency, is the centralization of the procurement of goods and services, as well as the integration and optimization of all assets from upstream to downstream," she stated.Apart from saving costs, the Pertamina Group has also succeeded in increasing its revenue through the export of high value-added products, such as HVO (palm-based D100) and Low Sulfur Fuel Oil.By upgrading its refineries, Pertamina has currently been able to produce more low-carbon products whose demand had continued to increase, thereby capturing a very prospective opportunity in the midst of global demand for such a product."For Pertamina, cost savings are not just about cutting costs but also changing operating models and improving business processes, so that all company programs can be carried out and all targets are achieved, but at a lower cost," Widyawati stated."Pertamina will continue to make various efforts to save costs, which at the same time can reduce carbon emissions, thereby supporting the company's and national energy transition efforts," she said.Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Rahmad Nasution (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Pertamina’s rank in Fortune’s Global 500 jumps 64 spots

August 11, 2022

JAKARTA, Aug 11, 2022 - (ACN Newswire via SEAPRWire.com) - Indonesian state-owned oil and gas company PT Pertamina has succeeded in re-establishing itself and made it to the 2022 Fortune Global 500 list, thereby being the only Indonesian company to be included on the list.The building of PT Pertamina. (ANTARA/HO-PT Pertamina)Pertamina is ranked 223rd on the list, climbing 64 places as compared to the 287th position in 2021, according to a release issued by the company on Wednesday.In 2022, the Fortune Global 500 list places 30 world oil and gas companies in the Petroleum Refining category. Pertamina was ranked 21st, which is above Japanese petroleum company Idemitsu and Spanish multinational energy company Repsol.State-Owned Enterprises (SOE) Minister Erick Thohir lauded Pertamina's success in re-entering the Fortune Global 500 list, with a significant improvement in ranking.Thohir said that Pertamina's ranking is testament to the fact that Indonesia's SOEs can compete with global companies."I highly laud the directors, commissioners, and all Pertamina personnel, who have worked hard in increasing the company's competitiveness in the international arena," he stated in Jakarta on Monday (August 8).Thohir pointed out that Pertamina's success demonstrates that SOEs are not only able to survive in the face of a pandemic but can also improve performance by making various improvements.According to the minister, Pertamina's achievements cannot be separated from the transformation and restructuring measures undertaken through the formation of holdings and subholdings of the company."Transformation through its holdings and subholdings makes Pertamina's operations more effective and efficient because it focuses more on the core business. This is in line with our target that Pertamina must become a global energy champion company and have a valuation of US$100 billion," he remarked.Thohir further expressed optimism that Pertamina's achievements would inspire other SOEs to perform better.He also expressed confidence that other Indonesian SOEs can take a cue from Pertamina by optimally implementing necessary transformation, core values, and improvement."The better the performance of Indonesian SOEs, more significant will be the impact on the community, let alone until being recognized at the global level. Positive performance will certainly provide a large space for SOEs to contribute more in increasing national economic growth, maintaining market balance, as well as populist economic programs," Thohir remarked.In line with the SOE minister's remarks, Pertamina CEO Nicke Widyawati said the company's efforts to boost competitiveness were unhindered by the pandemic, and even in the midst of severe challenges, Pertamina's financial performance soared sharply in 2021.According to Widyawati, Pertamina's performance has helped it climb the rankings in the Fortune Global 500 list in 2022."Pertamina has succeeded in increasing the company's revenue and net profit twice as compared to the previous year. This is an extraordinary achievement in the midst of global challenges and a pandemic that has not ended," she affirmed.She noted that Pertamina ranked fifth on the Fortune Global list for the Southeast Asian region. Moreover, in Asia, Pertamina was ranked 105th out of the 227 companies."Pertamina is also ranked 12th out of the 24 companies led by female CEOs and the only company in the Petroleum Refining category led by a female CEO," she pointed out.Apart from making it to the 2022 Fortune Global 500 list, in September 2021, Pertamina also received an Environmental, Social, and Governance (ESG) Risk Rating of 28.1 or was assessed to be at Medium risk.Such a global assessment has placed Pertamina in the 15th rank out of 252 oil and gas companies around the world, and at the 8th rank in the integrated oil and gas sub-industry."This is global acknowledgment of Pertamina's commitment and efforts to lead energy transition and decarbonization to support Indonesia's target of net zero emissions in 2060 as well as the achievement of the potential of renewable resources in Indonesia in the context of sustainable growth," Widyawati explained.In 2021, Pertamina successfully completed its business transformation by establishing six oil and gas subholdings: Upstream Subholding, Refining and Petrochemical Subholding, Commercial and Trading Subholding, Gas Subholding, Integrated Marine Logistics Subholding, and New and Renewable Energy Subholding.Widyawati emphasized that transformation is a strategic step to adapt to future business changes. Hence, the company should move ahead in a more agile and swifter manner as well as focus on broader and aggressive business development."The transformation will continue to encourage Pertamina to become a world-class energy company. With the support of all stakeholders, Pertamina will fulfill the aspirations of shareholders to realize the target of ranking among the 100 world-leading companies," she affirmed.In 2021, Pertamina had clocked a revenue of US$57.51 billion, an increase as compared to its revenue of US$41.47 billion in 2020.Pertamina's net profit in 2021 had reached US$2.045 billion, which is almost twice as high as the 2020 net profit of US$1.05 billion. Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Strong ESG implementation gets Pertamina international recognition

July 13, 2022

JAKARTA, Jul 13, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned oil and natural gas corporation PT Pertamina has gained recognition from several international institutions over its strong implementation of the environmental, social, and governance (ESG) approach this year.Strong implementation of environmental, social, and governance (ESG) approach by Indonesian state-owned oil and natural gas corporation PT Pertamina this year gained recognition from a number of international institutions. (ANTARA/HO-PT Pertamina)Pertamina's ESG implementation, which is getting stronger, has attracted international interest, as seen from the acknowledgment from a number of institutions and international awards, the company stated in a release received here on Tuesday.The latest acknowledgment has come from JP Morgan, which included Pertamina in its ESG Emerging Market Bond Instrument (JESG EMBI) Index and assigned it a score of 44.2 in June 2022. The score is higher than the threshold of 20 set by JESG EMBI.It shows that Pertamina has succeeded in improving its business, especially in terms of environmental insight, sustainability, and aspects of good governance, the company said."With this recognition, Pertamina has the opportunity to access wider funding in the market, including more competitive interest rates," it added.Pertamina's position has also become more recognized globally as a motor that drives sustainability in Indonesia, especially since the country has also committed to implementing the Paris Agreement on reducing carbon emissions."In line with Pertamina's vision to become a sustainable global energy company, we continue to improve the company's ESG aspects in accordance with international sustainability practices so that our initiatives are in accordance with ESG standards," said Emma Sri Martini, Pertamina's finance director who is also a committee member of Pertamina Sustainability.Pertamina has undertaken several measures in its sustainability efforts, including contributing to reducing carbon emissions, maintaining biodiversity, and implementing good corporate governance (GCG).Further, Pertamina succeeded in reducing 7.4 million tons of carbon equivalent, or around 29 percent, by 2021 from the 2010 baseline.Meanwhile, to maintain biodiversity, the company, in the past five years, has carried out conservation efforts for around 30 endemic animal species and around 24 plant species, most of which have become nearly extinct.Regarding the implementation of GCG, Pertamina earlier this year won the Anti-Bribery Management System certification, which signifies the company's commitment to implementing accountable work practices.Apart from its inclusion on the JP Morgan Index, Pertamina also received a number of awards for sustainability efforts.In June 2022, Pertamina and its affiliate, Pertamina Hulu Rokan, won the Indonesian Sustainability Business Award (SBA) in the "Highly Recommended" category.The SBA is given to companies that are considered to have a very strong sustainability commitment and demonstrate consistent efforts in various sustainability areas as well as have a good road map for sustainability implementation.SBA Indonesia has been instituted by Global Initiatives, an international company based in Singapore that is concerned with sustainability issues. Global Initiatives organizes the award program with some local partners, namely PwC Indonesia, the Indonesian Business Council for Sustainable Development (IBCSD), Control Union, and the Indonesian Chamber of Commerce and Industry (Kadin).The award is also held in several other countries besides Indonesia, namely Singapore, Malaysia, the Philippines, and Thailand.Earlier, Pertamina had also received an ESG score of 28.1 from Sustainalytics in 2021, which reflected a moderate level of risk, on par with other companies such as Spanish energy company Repsol and Italian oil industry company ENI.In addition, the World Benchmarking Alliance (WBA) also placed Pertamina 49th out of 100 oil and gas companies in the WBA Climate & Energy topic."We also encourage all Pertamina sub-holdings and affiliates to improve the implementation of ESG aspects, so that the company's operational and business programs can further implement some applicable rules according to ESG best practices," Martini said.Launched in 2018, the WBA seeks to generate a movement around increasing the private sector's impact on efforts to build a sustainable future for all.Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Rahmad Nasution (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Pertamina’s largest share of 2021 profit from upstream sector

June 23, 2022

JAKARTA, Jun 23, 2022 - (ACN Newswire via SEAPRWire.com) - The upstream sector accounted for the largest share of state-owned oil and gas firm PT Pertamina's (Persero's) net profit as Indonesian crude prices (ICP) soared in 2021.Pertamina Hulu Energi Offshore Southeast Sumatra (PHE OSES) well in Seribu Islands waters off North Jakarta's coast (ANTARA FOTO/M Risyal Hidayat/rwa)"The overall profit earned is a combination of the six sub-holdings and their subsidiaries, but the largest contribution to the net profit comes from the upstream sector due to the windfall from the increase in ICP prices," acting vice president of corporate communications at Pertamina, Heppy Wulansari, said in Jakarta on Tuesday.Reporting its 2021 fiscal year performance to the government, which is a shareholder in the company, Pertamina said it scored a net profit of Rp29.3 trillion.The majority of this profit was obtained from the upstream sector's revenue, which increased sharply. Meanwhile, the downstream sector experienced losses due to the increase in crude oil prices and as Pertamina's fuel prices remained below the market price.This was an advantage for Pertamina, which has an integrated business from upstream to downstream, which allows cross-subsidies. Thus, it could maintain the balance between profits and public service bonds.Wulansari said that Pertamina's financial performance was positive, with almost doubled profit in the 2021 fiscal year.This profit was consolidated profit from all Pertamina business lines from upstream, processing, and downstream.As for the downstream sector, especially fuel and LPG marketing and distribution, at this time, the status is still at a loss due to the high cost of fuel production as the largest component is crude oil."However, Pertamina really appreciates the government's full support through the payment of assignment fuel compensation and the addition of energy subsidies in the 2022 State Budget. This is very meaningful to maintain people's purchasing power and encourage economic recovery," Wulansari said.Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.comWritten by: Azis Kurmala, Editor: Suharto (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Tracing Pertamina’s cost efficiency amid high global oil prices

June 22, 2022

JAKARTA, Jun 22, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned oil and gas firm PT Pertamina (Persero) succeeded in achieving cost optimization of US$2.21 billion in 2021 amid high global crude oil prices.Pertamina. gas station ANTARA/HO - PT. Pertamina Patra Niaga Regional Kalimantan."Through this business strategy, in 2021, Pertamina succeeded in cost optimization of US$2.21 billion, obtained from the cost savings program (cost-saving) of US$1.36 billion, cost avoidance of US$356 million, and additional revenue (revenue growth) of around US$495 million," director of finance of Pertamina, Emma Sri Martini, said in Jakarta on Tuesday.Martini explained that Pertamina has developed several policies and business strategies from the financial and operational perspective to face the increasing global oil price challenges.Pertamina is strengthening its financial strategy and operational efforts to improve efficiency across business lines, both holdings and sub-holdings and from upstream processing to downstream, amid increasing crude oil prices.From a financial perspective, Pertamina has implemented a cost optimization program across the Pertamina Group, including cost savings, cost avoidance, and increased revenue.Under the savings efforts, Pertamina is also running a hedging program for market risk management. In addition, the company has centralized procurement, prioritized capital expenditures, and is managing assets and liabilities to reduce costs or interest expenses (cost of funds)."We are trying to optimize all costs and manage the company's financial aspects, to reduce costs, including prioritizing projects that have fast results," she said.Besides financial tightening, Pertamina is also implementing an operational strategy to increase revenue for its six sub-holdings.In the upstream business, Pertamina has continued to increase oil and gas production and lifting to take advantage of the increasing oil prices. As a result, production has increased by 4 percent and lifting by 3 percent.The positive performance from upstream operations has been contributed by Rokan Block and foreign assets and consistent efforts to maintain production levels through well-drilling and resource discovery. In 2021, Pertamina drilled 12 exploration wells and 350 exploitation wells. In the same year, its discovered reserves (2C) reached 486.70 MMBOE (million barrels of oil equivalent) and additional proven reserves (P1) reached 623.47 MMBOE.In processing and petrochemicals, in 2021, Pertamina implemented a crude and product optimization strategy. This contributed to an increase in product yield value by around 3 percent. The strategy is related to the selection and economic substitution of crude oil and maximizing high valuable products with high spreads. In 2021, refinery production also increased in response to higher energy demand due to national economic recovery.Then, in the transportation and logistics sectors, Pertamina optimized the load factor to achieve revenue and cost-efficiency. In the gas business, Pertamina also increased the gas trade volume and transportation, as well as oil transportation volume."And after the legal end state, we will also intensify resource sharing, such as sharing facilities and development agreements, especially in upstream sub-holding," Martini said.She added that the positive performance downstream was also supported by the government through the recognition of the difference in compensation for HJE JBT Solar and JBKP Pertalite in 2021, which reached around US$4 billion or equivalent to Rp58.6 trillion (excluding tax) and around US$1.7 billion or equivalent to Rp24.1 trillion (excluding tax) in 2018 and 2019. According to Martini, the government's support will continue in 2022 through a policy revision that will stipulate Pertalite (RON90) as a Special Assignment Fuel in place of Premium (RON88) and an adjustment to the price of Pertamax.As Pertamina's appreciation for this support, several initiatives in the downstream sector have been implemented that simultaneously respond to market changes, such as an expansion of digital transactions, acceleration of Pertashop outlets to capture larger market opportunities in rural areas, and diversion of gas station energy sources to solar panels.We appreciate the government and the DPR's decision, which has increased the budget ceiling for subsidies and compensation for 2022 to maintain and protect people's purchasing power and contain potential inflation. This is a support for Pertamina in providing energy amidst the challenges of high crude oil prices," Martini said.With this support, in 2022, Pertamina will make efforts to increase oil and gas production by 17 percent, targeting 79.9 percent Valuable Product Yield, adding around 3 thousand Pertashop fuel outlets, developing digital markets for up to 25 million MyPertamina users, and increasing revenue from non-captive markets in the shipping business to 7.5 percent.To strengthen its commitment to low-carbon energy, it will produce 7,138 GWh of electricity, which will be supported by a targeted increase in the installed capacity of up to 2.9 GW. Another important strategy will be unlocking the value developed by subsidiaries."In the financial sector, we will focus on optimizing costs targeted to reach up to US$600 million. We will continue to communicate with the government to ensure a good decision for the company," Martini said.Jakarta (ANTARA) - State-owned oil and gas firm PT Pertamina (Persero) succeeded in achieving cost optimization of US$2.21 billion in 2021 amid high global crude oil prices."Through this business strategy, in 2021, Pertamina succeeded in cost optimization of US$2.21 billion, obtained from the cost savings program (cost-saving) of US$1.36 billion, cost avoidance of US$356 million, and additional revenue (revenue growth) of around US$495 million," director of finance of Pertamina, Emma Sri Martini, said in Jakarta on Tuesday.Martini explained that Pertamina has developed several policies and business strategies from the financial and operational perspective to face the increasing global oil price challenges.Pertamina is strengthening its financial strategy and operational efforts to improve efficiency across business lines, both holdings and sub-holdings and from upstream processing to downstream, amid increasing crude oil prices.From a financial perspective, Pertamina has implemented a cost optimization program across the Pertamina Group, including cost savings, cost avoidance, and increased revenue.Under the savings efforts, Pertamina is also running a hedging program for market risk management. In addition, the company has centralized procurement, prioritized capital expenditures, and is managing assets and liabilities to reduce costs or interest expenses (cost of funds)."We are trying to optimize all costs and manage the company's financial aspects, to reduce costs, including prioritizing projects that have fast results," she said.Besides financial tightening, Pertamina is also implementing an operational strategy to increase revenue for its six sub-holdings.In the upstream business, Pertamina has continued to increase oil and gas production and lifting to take advantage of the increasing oil prices. As a result, production has increased by 4 percent and lifting by 3 percent.The positive performance from upstream operations has been contributed by Rokan Block and foreign assets and consistent efforts to maintain production levels through well-drilling and resource discovery. In 2021, Pertamina drilled 12 exploration wells and 350 exploitation wells. In the same year, its discovered reserves (2C) reached 486.70 MMBOE (million barrels of oil equivalent) and additional proven reserves (P1) reached 623.47 MMBOE.In processing and petrochemicals, in 2021, Pertamina implemented a crude and product optimization strategy. This contributed to an increase in product yield value by around 3 percent. The strategy is related to the selection and economic substitution of crude oil and maximizing high valuable products with high spreads. In 2021, refinery production also increased in response to higher energy demand due to national economic recovery.Then, in the transportation and logistics sectors, Pertamina optimized the load factor to achieve revenue and cost-efficiency. In the gas business, Pertamina also increased the gas trade volume and transportation, as well as oil transportation volume."And after the legal end state, we will also intensify resource sharing, such as sharing facilities and development agreements, especially in upstream sub-holding," Martini said.She added that the positive performance downstream was also supported by the government through the recognition of the difference in compensation for HJE JBT Solar and JBKP Pertalite in 2021, which reached around US$4 billion or equivalent to Rp58.6 trillion (excluding tax) and around US$1.7 billion or equivalent to Rp24.1 trillion (excluding tax) in 2018 and 2019. According to Martini, the government's support will continue in 2022 through a policy revision that will stipulate Pertalite (RON90) as a Special Assignment Fuel in place of Premium (RON88) and an adjustment to the price of Pertamax.As Pertamina's appreciation for this support, several initiatives in the downstream sector have been implemented that simultaneously respond to market changes, such as an expansion of digital transactions, acceleration of Pertashop outlets to capture larger market opportunities in rural areas, and diversion of gas station energy sources to solar panels.We appreciate the government and the DPR's decision, which has increased the budget ceiling for subsidies and compensation for 2022 to maintain and protect people's purchasing power and contain potential inflation. This is a support for Pertamina in providing energy amidst the challenges of high crude oil prices," Martini said.With this support, in 2022, Pertamina will make efforts to increase oil and gas production by 17 percent, targeting 79.9 percent Valuable Product Yield, adding around 3 thousand Pertashop fuel outlets, developing digital markets for up to 25 million MyPertamina users, and increasing revenue from non-captive markets in the shipping business to 7.5 percent.To strengthen its commitment to low-carbon energy, it will produce 7,138 GWh of electricity, which will be supported by a targeted increase in the installed capacity of up to 2.9 GW. Another important strategy will be unlocking the value developed by subsidiaries."In the financial sector, we will focus on optimizing costs targeted to reach up to US$600 million. We will continue to communicate with the government to ensure a good decision for the company," Martini said.Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.comWritten by: Azis Kurmala, Editor: Suharto (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Pertamina posts record net profit of Rp29.3 trillion

June 22, 2022

JAKARTA, Jun 22, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned oil and gas firm PT Pertamina (Persero) posted a record net profit of Rp29.3 trillion in 2021 following a successful business transformation.President director of Pertamina, Nicke Widyawati, addressing an online press conference on Pertamina's participation in the Dubai Expo, which was accessed from Jakarta on March 18 (ANTARA/HO-Pertamina)The 2021 transformation helped push up its consolidated net profit (audited) to US$2.046 billion or around Rp29.3 trillion, president director of Pertamina, Nicke Widyawati, said in a statement issued in Jakarta on Tuesday.The figure was almost double compared to the 2020 net profit of Rp15.3 trillion and exceeded the 2021 Corporate Work Plan and Budget (RKAP) target by 154 percent.In 2021, Pertamina transformed its business by increasing efficiency and production, carrying out energy transition, developing oil and gas infrastructure, and implementing the Refinery Development Master Plan (RDMP) project.Widyawati said Pertamina's successful transformation in 2021 was owing to the formation of the oil and gas holding with six sub-holdings: upstream sub-holding, refining and petrochemical sub-holding, commercial and trading sub-holding, gas sub-holding, integrated marine logistics sub-holding, and new and renewable energy sub-holding."This transformation is a strategic step to adapt to future business changes, moving more agile and faster, focusing on broader and aggressive business development," Widyawati said.Pertamina's positive financial performance was also demonstrated by earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$9.2 billion.This shows that Pertamina's finances are in a healthy (AA) and safe condition amid the disruption and geopolitical challenges affecting the global oil, gas, and energy industry, Widyawati said.Pertamina's net profit was the consolidated profit of all subsidiaries from upstream, processing, to downstream.Most of the profit was contributed by the upstream sector's revenue, which surged due to rising Indonesian crude prices (ICP). The downstream sector remained under pressure from the high cost of fuel production, the largest component of which is crude oil, Widyawati said.In 2021, upstream oil and gas production increased from 863 thousand oil barrels equivalent per day (MBOEPD) in 2020 to 897 MBOEPD. Thus, Pertamina contributed more than 60 percent to national oil and gas production.In addition, with Pertamina's massive drilling, production at Rokan Block also increased. Various efficiency programs also resulted in cost savings of US$1.4 billion.Fuel production was also achieved according to the target, so there were no additional imports. Since April 2019, Pertamina is no longer importing solar and Avtur fuel, Widyawati said.Pertamina has also completed the construction of two giant oil and gas tankers, namely VLCC Pertamina Pride and Pertamina Prime, which will be used for the global market.Meanwhile, to improve fuel supply reliability in Eastern Indonesia, Pertamina has built and operated 13 new fuel terminals.Pertamina is also running National Strategic Projects (PSN), including the Balikpapan RDMP Refinery (47 percent completion), Balongan RDMP refinery (68.5 percent completion), Cilacap Green Refinery, Tuban GRR Refinery, as well as other priority projects to strengthen Pertamina's petrochemicals business such as Polypropylene Balongan, Revamping Aromatic TPPI, and Olefin TPPI, she said.Integrated digitization from upstream to downstream has been one of the keys to Pertamina's successful controlling of the production and distribution of fuel, as well as the improvement in the service quality to the community.Through its Integrated Command Center, all operational activities can be monitored online and in real-time. The use of MyPERTAMINA application for cashless payments is increasing, and currently, it has reached more than 22 million users, Widyawati informed.With the 2021 new energy development, in addition to the Biosolar B30 production, the Cilacap Refinery has succeeded in producing renewable diesel (100 percent biodiesel), with a capacity of 3 thousand barrels per day. Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.comWritten by: Azis Kurmala, Editor: Suharto (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)