Pertamina Records Profit of USD1.4 Billion in H1 2017

Eko Nordiansyah    •    16 Agustus 2017 15:13 WIB
energy
Pertamina Records Profit of USD1.4 Billion in H1 2017
Illustration (Photo: Antara/Muhammad Adimaja)

Metrotvnews.com, Jakarta: PT Pertamina reported a profit of USD1.4 billion in the first semester of 2017, a 24 percent decrease compared to the first semester of 2016.

The state-owned enterprise's revenue reached USD20.5 billion last semester. It grew 19 percent compared to the same period last year.

The energy giant's oil and gas lifting reached 692 thousand barrels of oil equivalent per day (MBOEPD). It grew eight percent compared to the same period last year.

"On the one side, rising global oil prices boosted upstream sector. On the other side, rising global oil prices harmed downstream sector," PT Pertamina president director Elia Massa Manik said.

The average price of the Indonesia Crude Price (ICP) reached USD48.9 per barrel in the first semester 2017. It grew 35 percent compared to the first semester of 2016.


(WAH)