Friday, August 5, 2011

Pertamina Record Profit of US $ 16.77 million in 2010

JAKARTA, General Meeting of Shareholders of PT Pertamina (Persero) which was held on June 14, 2011 and ended at 22:00 pm in the Office of the Ministry of SOEs, approve and ratify the Company's Financial Statements year 2010 (audited) by achieving a profit of Rp. 16.77 trillion and agree on payment of dividends to the Government amounting to Rp. 7.12 trillion. Profit in 2010 increased 3% compared to 2009 earnings remember in 2010 there were losses on fuel sales PSO (Public Service Obligation / subsidized fuel) due to lower benchmark alpha given at Pertamina, causing losses of Rp. 2.5 trillion and disadvantages of LPG business non-PSO (12 kg and 50 kg) is Rp. 3.24 trillion. So it is without loss, Pertamina benefits could reach Rp. 22.51 trillion. 

Reports indicate the rating of the company Pertamina had reached the level of the company's health HEALTHY AA category with a score of 90.85, an increase of the score in 2009 is A with a score of 79.21. Meanwhile, GCG Corporate achievement score 86.79% in 2010 are included in both categories increased compared to the year 2009 amounted to 83.56%. In addition to the Financial Statements of the Company, Shareholders of PT Pertamina (Persero) also approve and certify RJPP Pertamina, including profit target of Rp. 54 trillion in 2015 and changes to the original vision of the company into the National Oil and Gas Companies to World Class World Class National Energy Company. With this vision changes, Pertamina to demonstrate its commitment to further develop alternative energy, new energy and renewable energy as an effort to maintain compliance to national economic growth. Achievement of the operational performance of Pertamina in 2010 in the areas upstream, Pertamina managed to increase oil production by 9%, 6% gas, and geothermal 1% compared to 2009. In 2010 Pertamina managed to achieve production of 70 million barrels of oil and gas production of 532.8 BSCF or total oil and gas at 443.79 MBOEPD. Earlier in 2009, Pertamina's production reached 412.94 MBOEPD consisting of an oil production of 64.40 million barrels and gas at 502.05 BSCF. Geothermal production in 2010 reached 15.96 million tons, while in 2009 15.77 million tons. 

Pertamina also managed to find new reserves (contingent) of 346.64 MMBOE. In 2010 acquisitions made Pertamina includes acquiring Block Offshore South East Sumatra (OSes) of 13.07%, adding Participating Interest in Block Offshore North West Java (ONWJ) 7.25%, and participation in Block Pertamina Semai II (Papuawest) by 15% through the mechanism of Pertamina Participating Interest (PPI).Pertamina also add two (2) concession block Coal Bed Methane (CBM), namely Block I Muara Enim (South Sumatra) and Tanjung Block I Area 2 (South Kalimantan). 

In the annual AGM, Pertamina also reported the completion of the conversion project RCC Off Gas to Propylene at RU VI Balongan, marked with mechanical completion on July 27, 2010. Increase safety awareness through Safety Improvement Program Implementation (siip) at the refinery and the assessment by Dupont with an increase in score of 1.5 (2006) to 2.0 (2010). Pertamina refineries encourage product development - to increase value-added products such as by producing Marine Gas Oil (MGO) and improve the quality of OBM (Oil Base Mud) and produces its own catalyst. 

For the development of refineries, Pertamina has conducted a study of revitalization / reconfiguration of the refinery with the new technology to increase the complexity and increase refinery capacity through an investment program, among others RFCC RU Cilacap, Cilacap Project Blue Sky, Bottom Up Grading RU V Balikpapan refinery, and construction of new refineries ( grass root refinery) in Balongan. 

Kerosene to LPG has been completed in 10 provinces (Jakarta, West Java, Banten, Yogyakarta, Central Java, East Java, Bali, Lampung, South Sumatra and South Sulawesi), as well as some District / City in Aceh, North Sumatra, Riau, Kep. Riau, Jambi, Bengkulu, West Nusa Tenggara, East Kalimantan, South Kalimantan, West Kalimantan and West Sulawesi. The program has been successful in reducing the use of subsidized kerosene by 141%, from 5.4 million in KL in 2009 to 7.6 million in KL in 2010, and provide government subsidies savings of approximately Rp14, 38 trillion, up 125% from the year 2009 of Rp6, 92 Trillion. Non-fuel sales PSO retail sector (Pertamax and Pertamax Plus) increased by 38.2% compared with the realization in 2009. 

As a form of expansion into overseas markets, sales of Pertamina lubricants has entered into 15 countries, namely United States, Pakistan, Taiwan, Singapore, Belgium, Australia, United Arab Emirates, China, Myanmar, Malaysia, Oman, Philippines, Bangladesh, Timor Leste, and Japan. Avtur sales exceeded 3 million KL, and penetration of international markets in 17 cities abroad including Singapore, Kuala Lumpur, Bangkok, Hong Kong, Jeddah, Dubai, Majuro, Pittsburgh, Boston, Berlin, Brussels, Paris, Dong Muang, Amsterdam. Improved standards of service as indicated by the number of retail outlets meningakatnya Sure Fit! (From 2590 in 2009 to 3590 in 2010), 42 SPBE LPG Sure!, 23 must be Satisfied Customer! In Industry Marine and numerous awards including Top Brand Award 2010 (Prima XP), "Ramp Incident Free For One Year (Total 14 Years)" from Japan Airlines to DPPU Soekarno-Hatta. 

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