JAKARTA, Indonesia, Aug 27 (NNN-ANTARA) – Indonesia’s state-run oil and gas firm, Pertamina, saw an enormous net profit growth of 112 percent to 9.4 trillion rupiah (about 660 million U.S. dollars), in the first half of this year, a Pertamina executive said.
Pertamina Finance Director, Pahala Mansury, said, the net profit growth figure came up from six percent Cost of Goods Sold (CoGS) reduction, during the period, compared to that in the same period last year.
CoGS reduction was, among other, caused by the decline of Indonesia Crude Price (ICP) to 63 dollars per barrel, in the first half of this year, from 66 dollars in the same period last year, he added.
In upstream operation, Mansury said, production of Pertamina crude oil reached 413 million barrels per day (MBPOD) in the first half of this year, higher than 385 MBPOD in the same period last year.
“Our crude oil production grew six percent year-on-year,” Mansury said .
Pertamina managed to sell up to 34.1 million kilo litres of various fuels for public use, in the first half of this year, slightly higher than 33.9 million kilo litres in the corresponding period last year.
Mansury added that sales of fuels for non-public use, like diesel and aircraft fuels have risen to 8.3 million kilo litres in first half of this year from 7.9 million kilo litres in the same period last year.
Indonesia has stopped importing diesel and aircraft fuels since May, as domestic demands on those fuels can be fulfilled by Pertamina from its productions, he said.
