Restructured Pertamina targets revenue of $93 billion in 2024

[Indos]

PERTAMINA SPEND 11 BILLION USD FOR RENEWABLE ENERGY DEVELOPMENT

PT LEN Industry renewable products


TEMPO.CO, Jakarta - PT Pertamina (Persero) will pour capital expenditures worth US$ 11 billion to accelerate the new renewable energy or NRE program. The investment expenditure is targeted to run for the next five years until 2026.


Director of Strategic Planning and Bussiness Development of PT Pertamina Power Indonesia Fadil Rahman explained that the money will be used to build solar power plant (PLTS) facilities in more than 400 points throughout Indonesia. The construction is planned to be completed in 1.5 years.


"So far, spending the budget is to install solar power plants (PLTS) in 400 locations throughout Indonesia," said Fadil at the Indonesia Millennial and Gen-Z Summit held by IDN Media at The Tribrata Dharmawangsa, South Jakarta, Friday, September 30, 2022.

In addition, the budget will be used to strengthen the use of geothermal technology and develop electric vehicles (EVs) and ecosystem batteries. The company has also teamed up with several partners to release an accelerated support pilot project for electric motors in Bali two months ago.

"Now that's what we're spending, to build facilities and infrastructure for its linkage to transitional energy," Fadil said.

Previously, Pertamina's SVP strategic investment Daniel Purba said Pertamina targeted to increase the NRE mix from 1 percent in 2021 to 17 percent in 2030. The company also targets to reduce carbon emissions by up to 30 percent by 2030.

"Pertamina's commitment is in line with efforts to use domestic resources to supply energy in the country towards clean energy development and decarbonization," said Daniel.

Within 5 years or in the 2022-2026 period, Pertamina's total capital expenditure (capex) in the NRE sector reached US$ 11 billion. The portion of Pertamina's NRE capex was 14 percent of the total capex of red plate companies in the same period.

Pertamina's largest capex in 2022-2026 still comes from the upstream sector, which is US$ 34 billion (46 percent) downstream of US$ 28 billion (37 percent). The capex in other sectors was recorded at US$ 2 billion.

According to Daniel, one of the effective ways pertamina is doing to increase its role in the growth of NRE in the energy mix is to build collaboration between various parties globally with binding targets and clear transition planning. "Pertamina is strongly committed to implementing the agreement resulting from COP26 in line with the energy transition that is being carried out by the company," he said.

MSN

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[Indos]

Pertamina CEO said that the company has produced more than 60 % of total oil and gas production in Indonesia.

 

[Indos]

Nicke Widyawati is once again appointed as PT Pertamina CEO

Alasan Nicke Widyawati Kembali Ditunjuk Jadi Dirut Pertamina : Okezone Economy

Alasan Nicke Widyawati kembali ditunjuk jadi Direktur Utama PT Pertamina Persero - hot issue - okezone economy

economy.okezone.com

 

[Indos]

Restructured Pertamina targets revenue of $93 billion in 2024

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View attachment 778883

Divya Karyza (The Jakarta Post)
PREMIUM
Jakarta ● Sun, September 19, 2021

Major restructuring completed recently at Pertamina is expected to help the state-owned energy giant achieve US$93 billion in revenue and $21 billion in net profit within three years.

State-Owned Enterprises (SOEs) Minister Erick Thohir said given that the company was aiming for a valuation of $100 billion in 2024, booking $93 billion in revenue was not an impossible task. “I think it is possible to achieve the target,” he said in an interview with CNBC Indonesia on Thursday.

Fajriyah Usman, Pertamina’s acting senior vice president of corporate communications and investor relations, said the creation of six subholding companies would allow Pertamina to improve its operational and financial performance, as well as optimize spending.

Restructured Pertamina targets revenue of $93 billion in 2024

Major restructuring completed recently at Pertamina is expected to help the state-owned energy giant achieve US$93 billion in revenue and $21 billion in net profit within three years.

www.thejakartapost.com

AlhamduliLLAH, until July 2022, Pertamina revenue has already reached 45 billion USD (January 2022-July 2022). This is under new value of currency which is depreciating quite a lot. In Rupiah it is Rp 687,8 triliun (Rp 15.286/ US dolar).

Look like even in 2022, the target to reach 93 billion USD revenue is not just a dream but could possibly be realized.

Just to inform that Pertamina is a conglomeration, not only it drills oil and gas, it also dominates the retail sales of gasoline in Indonesia, has huge tankers business, chemical business that produce lubricant and biofuel, it also has geothermal business, gas distribution business, LNG refinery, totally all oil refinery in the country owned by the company, even it has airline business as well

Sampai Juli, Pendapatan Pertamina Tembus US$ 45 Miliar

Kementerian BUMN mencatat, Pertamina membukukan pendapatan hingga US$ 45 miliar sampai Juli 2022

www.cnbcindonesia.com

 

[Indos]

Indonesia's Jambaran-Tiung Biru gas project comes onstream - regulator​

JAKARTA, Sept 23 (Reuters) - Indonesia’s Jambaran-Tiung Biru (JTB) gas project began production this week and is expected to reach 172 million standard cubic feet per day (MMSCFD) output by October-end, an official said on Friday.

The gas development project run by Indonesia’s state energy company Pertamina was initially expected to onstream in late 2020 or early 2021, but faced delays due to COVID-19 restrictions.

“Current flow is at around 10 MMSCFD and will gradually increase. My estimate is that by end of October, it will reach 172 MMSCFD,” upstream oil and gas regulator SKK Migas senior official, Julius Wiratno, told reporters on the sidelines of an industry conference.

The JTB project is designed to have output capacity at 192 MMSCFD, but only 172 MMSCFD have been contracted for buyers so far, Julius said, including 100 MMSCFD purchased by state utility PLN.

Southeast Asia’s biggest economy is aiming to reach a lifting target of 1 million barrels per day (bpd) and 12 billion cubic feet gas per day in 2030. (Reporting by Bernadette Christina Editing by Fransiska Nangoy and Kanupriya Kapoor)

Indonesia's Jambaran-Tiung Biru gas project comes onstream - regulator

Indonesia's Jambaran-Tiung Biru (JTB) gas project began production this week and is expected to reach 172 million standard cubic feet per day (MMSCFD) output by October-end, an official said on Friday.

www.reuters.com

 

[Indos]

Jambaran Tiung Biru Gas project uses high local content. Just like this big device made by another state owned company, PT Boma Bisma Indra

 

[Indos]

Top! Pertamina Shipping Plans to Dominate the ASEAN Market in 2023​

NEWS - Pratama Guitarra, CNBC Indonesia
18 October 2022 10:23


Nusa Dua, CNBC Indonesia - PT Pertamina International Shipping (PIS) as a Subholding of Integrated Marine Logistics PT Pertamina (Persero) has big plans to become the largest player in oil and gas (oil and gas) ship transportation in Southeast Asia (ASEAN).

This was revealed directly by the President Director of Pertamina International Shipping, Yoki Firnandi to CNBC Indonesia on the sidelines of the SOE International Conference, Nusa Dua, Bali (Tuesday (10/18/2022).

Yoki said that currently, Pertamina International Shipping or commonly called PIS has operated as many as 300 tankers. With the large number of tanker operations, PIS targets to dominate the oil and gas transportation ship market in the Southeast Asian region.

"Our target is that next year we can dominate the Landmark Asian market. Where currently our ship is playing a lot in The Indonesian Territory, we will slide it out. Of course, there are conditions and millions will increase the operational standards of our ships, as well as the ships we rent," said Yoki.

As is known, Pertamina International Shipping has successfully mastered 12 international routes. Yoki said that in the past, PIS was only as a support system for Pertamina, whose main task was to serve ship operations in the country.

However, since 2020 PIS has to look at the business side, not only serving Pertamina. "We have to expand outside, we have been able to penetrate 12 routes and cannot be separated from our aggressiveness in the international market. One of them is through our subsidiary in Singapore," explained Yoki.

Currently, PIS has added a market of 10% outside of the Pertamina market. Yoki hopes that the market from PIS will continue to grow in the future. "Last Sunday we signed an MoU with the aim that we could get the market. In the future, we will be even more aggressive," yuki explained.

Dus, in 2023 PIS will open an office in Dubai, while PIS in Dubai to drive the market in the Middle East. "And we have plans to open branch offices in Europe, in London, in East Asia, we are in Japan. The goal is to get closer and understand the target customers in the region," said Yoki.

(pgr/pgr)

Top! Pertamina Shipping Berencana Kuasai Pasar ASEAN di 2023

Pertamina International Shipping (PIS) menargetkan jadi penguasa angkutan kapal migas di Asia Tenggara

www.cnbcindonesia.com

 

[Indos]

Indonesia eyes sugarcane-mixed biofuel to cut emission, imports​

The shift to sugarcane-based biofuel is expected to help Indonesia curb fuel imports that account for about half the national demand. - JP

• INDONESIA
• Tuesday, 18 Oct 2022
  2:08 PM MYT

JAKARTA (Bloomberg): Indonesia plans to sell biofuels made from a blend of sugarcane extract and oil from next year as the world’s largest exporter of dirty coal seeks to reduce emission and curb fuel imports.

State-owned oil and gas firm PT Pertamina Persero will begin selling E20 fuel, which is a mix of 80% gasoline, 15% methanol derived from natural gas and 5% ethanol derived from sugarcanes, Chief Executive Officer Nicke Widyawati said in an interview. It plans to source the bioethanol from state plantation holding firm PT Perkebunan Nusantara III.

While Pertamina’s sugar-based fuel plan has been mooted for sometime, the recent surge in crude prices and Indonesia’s renewed ambition for a net-zero emission by 2060 have hastened the move. In addition, the shift to biofuel will help South-E.east Asia’s biggest economy curb fuel imports that account for about half the national demand.

Widyawati said Pertamina plans to lower emissions to at least 31.89% by 2030 from 29% currently under the business-as-usual scenario.

"We are actually more aggressive and ambitious than the government” in reducing emissions, she said in the interview in Bali.

To support the move, the government is expected to issue a new regulation mandating the use of the fuel mix in 2023, similar to the palm-based biofuel policy, said Widyawati.

Pertamina will be able to produce 36 million kiloliters of E20 using existing gasoline refining capacities, she said. The company plans to build a methanol facility in gas-rich Bojonegoro in East Java province to boost production.

It is also looking into making ethanol from corn, cassava and palm oil husks to reduce competition with sugar producers, she said.

Indonesia eyes sugarcane-mixed biofuel to cut emission, imports

JAKARTA (Bloomberg): Indonesia plans to sell biofuels made from a blend of sugarcane extract and oil from next year as the world’s largest exporter of dirty coal seeks to reduce emission and curb fuel imports.

www.thestar.com.my

 

[Indos]

Pressing Imports, Pertamina Refinery Aims for producing 1.42 Million Barrels per Day in 2028​

NEWS - Verda Nano Setiawan, CNBC Indonesia
24 October 2022 17:40

Jakarta, CNBC Indonesia - PT Pertamina (Persero) continues to strive to boost the production capacity of domestic fuel oil (BBM). This is done as an effort by the company to reduce the number of fuel imports.

President Director of Pertamina International Refinery, Taufik Aditiyawarman said that Pertamina's refinery production capacity is targeted to increase, from the previous 1 million barrels per day (BPD) to 1.425 million bpd in 2028.

This follows the steps of the company that has drawn up a roadmap in the construction of the grass root refinery (GRR) refinery and the Refinery Development Master Plan or RDMP development project.

"So in 2028 our master plan and grass root refinery plan will have a refinery mostly producing national demand which is 1.4 million barrels per day," said Taufik in Squawk Box, CNBC Indonesia (Monday, 24/10/2022).

Additional details of this 425 thousand bph will later come from the Tuban GRR of 300 thousand bph, then from the Balikpapan Refinery Development Master Plan (RDMP) of 100 thousand bph, and from the Balongan Refinery of 25 thousand bpd.

According to Taufik Pertamina itself has just completed the development project or Refinery Development Master Plan (RDMP) of the Balongan Refinery, Indramayu in West Java. With the completion of the project, the production capacity of the Balongan Refinery increased from the previous 125 thousand bpd then increased to 150 thousand bpd.

Furthermore, namely the Balikpapan RDMP Refinery project, currently the progress is also in the engineering, procurement, & construction (EPC) stage. The RDMP project will increase production capacity from 260 thousand bpd to 360 thousand bpd and is expected to be completed in 2024.

"We will get euro 5 quality and capacity up 100 thousand bpd. To meet 1.425 million bpd there is a grass root refinery Tuban. So that God willing, the completion of the development project at the refinery, we can be independent in fuel in the future," he said.

In addition, Pertamina has also completed the construction of phase-1 of the Cilacap Refinery which is able to process Refined Bleached Deodorized Palm Oil (RBDPO) as much as 3,000 barrels per day. Production at the refinery will surge to 6000 bph by 2026 following the completion of phase-2.

Tekan Impor, Kilang Pertamina Bidik 1,42 Juta Barel di 2028

PT Kilang Pertamina terus berupaya menggenjot kapasitas produksi BBM di dalam negeri

www.cnbcindonesia.com

 

[Indos]

Pertamina's Real Evidence of RI's Oil Backbone​

NEWS - Verda Nano Setiawan, CNBC Indonesia
November 09, 2022 19:14


President Director of Pertamina Hulu Energi (PHE) Wiko Migantoro explained that the company's oil and gas production target this year is pegged at 854 thousand barrels of oil equivalent per day (BOEPD), consisting of oil production of 446 thousand barrels per day (bph) and gas production of 2,363 million standard cubic feet per day (MMSCFD).

"Currently, PHE's production contribution is 67% of national oil production and 32% of national gas production. This is supported by four domestic regions that are in the Upstream Sub-Holding relationship," he said in a Joint Hearing Meeting with Commission VII of the House of Representatives, Wednesday (9/11/2022).

Bukti Nyata Pertamina Tulang Punggung Minyak RI

PT Pertamina Hulu Energi (PHE) terus berkomitmen untuk mempertahankan tingkat produksi minyak dan gas bumi (migas) nasional.

www.cnbcindonesia.com

 

[Indos]

Pertamina International shipping is really large, it operates 750 ships and 6 ports.

Company Profile Pertamina International Shipping​

 

[Indos]

PT Pertamina uses new technology in their LNG production site in Bontang, Kalimantan island. With new technology, LPG production line will be produced much higher, 323 % higher than current production rate. This can lead to significantly LPG import reduction starting from next year. LPG is consumed by houses for cooking.

The technology is developed by PT Pertamina

 

[Indos]

Indonesia's Pertamina to adjust refinery investment plans amid energy shift​

FILE PHOTO: A sign of the state-owned Pertamina seen at a petrol station in Jakarta, Indonesia, February 17, 2016. REUTERS/Beawiharta


24 Jan 2023 07:02PM
(Updated: 24 Jan 2023 07:02PM)

JAKARTA : The refinery arm of Indonesian state energy firm Pertamina is redesigning its refinery expansion plans to meet shifting demands from a transition towards renewable energy, its chief executive said on Tuesday.

Under Pertamina's 2015 refinery development plan, the company aims to upgrade four of its biggest refineries and build two new ones, which would nearly double its processing capacity to more than 1.5 million barrels per day.

PT Kilang Pertamina Internasional, or KPI, Pertamina's refinery subholding, is readjusting the scope, product mix and timeline of its investment for Plaju, Dumai and Cilacap refineries, its chief executive Taufik Adityawarman told Reuters in an interview.

"Previously, we had a long list to increase capacity and we were emphasising volume," he said of the 2015 plan.

"Now, with a new business environment, adoption of electric vehicles and our own commitment to energy transition, we have to be adaptive."

Indonesia last year pledged a more ambitious carbon emission cut of 31.89 per cent on its own, or 43.2 per cent with international support by 2030. It is also targeting net-zero emissions by 2060.

According to a 2021 presentation by Pertamina, upgrades of Dumai, Plaju and Cilacap would require a combined $6.2 billion, with expected completion in 2027.

The new investment plan might result in bigger production of fuel made of renewable sources, such as diesel fuel and jet fuel made from vegetable oil, Taufik added.

The Cilacap plant already has 3,000 bpd capacity to produce fuel made from palm oil - of which Indonesia is the world's biggest producer - and is expected to double that capacity by 2026.
Taufik said KPI aims to finalise their new investment plan in the first half of this year.

Pertamina completed the first phase of its Balongan refinery upgrade in 2022, expanding its capacity to 150,000 bpd from 125,000 bpd.

It is aiming to finish the first phase of its Balikpapan refinery upgrade in 2024 to raise processing capacity to 360,000 bpd from 260,000 bpd. KPI would spend $1.5 billion in capital expenditure this year, mostly for the Balikpapan refinery.

Taufik said KPI hopes to reach a final investment decision on the Tuban refinery in the second half of the year.

(Editing by Martin Petty)

Indonesia's Pertamina to adjust refinery investment plans amid energy shift

JAKARTA : The refinery arm of Indonesian state energy firm Pertamina is redesigning its refinery expansion plans to meet shifting demands from a transition towards renewable energy, its chief executive said on Tuesday. Under Pertamina's 2015 refinery development plan, the company aims to upgrade...

www.channelnewsasia.com

 

[Indos]

PGN Hopes that the Construction of the Cirebon-Batang Gas Pipeline will be realized​

The story of Fuji Pratiwi

Workers install natural gas pipelines in the Riau Islands, Saturday (25/6/2022). PT PGN Tbk as a Gas Subholding of PT Pertamina (Persero) expects the construction of natural gas pipelines in Dumai-Sei Mangkei and Cirebon-Batang to be realized.© ANTARA/Teguh Prihatna

REPUBLIKA.CO.ID, JAKARTA -- PT PGN Tbk as a Gas Subholding of PT Pertamina (Persero) expects the construction of natural gas pipelines in Dumai-Sei Mangkei and Cirebon-Batang to be realized.

"Here we say, thank God our pipeline from Aceh (Sumatra island) to Pasuruan (Java island) has been connected, except in two sections, one is in Dumai-Sei Mangkei and the second is Cirebon-Batang. This is what we also encourage the support of Mr. and Mrs. in Commission VII," said President Director of PT PGN Tbk M Haryo Yunianto during a hearing meeting (RDP) with Commission VII DPR, in Jakarta, Wednesday (1/2/2023), which was monitored from the YouTube of Commission VII DPR.

Haryo revealed that currently there is a surplus of gas volume in East Java. Meanwhile, in West Java and southern Sumatra, gas supply has decreased.

"It's just that, in East Java to West Java and to southern Sumatra, we don't have a pipeline interconnection, currently it is cut off in Cirebon and Batang," he said.

If the Cirebon-Batang gas pipeline can be built, he said, the surplus gas volume in East Java can be sent to West Java and southern Sumatra. If the Cirebon-Batang pipeline can be built by the state budget, the surplus in East Java can be sent to West Java and to southern Sumatra.

On the occasion, he also stated that until now PGN has distributed gas in 52 percent of industrial estates throughout Indonesia.

"We have also distributed from 129 industrial estates in Indonesia, we have distributed our gas in 52 percent of all industrial estates. So, for the rest, it happens that an industrial area is in the process of being built," said Haryo.

In addition, he also said that PGN always coordinates with the Ministry of Energy and Mineral Resources and Pertamina Group in the context of developing national gas infrastructure.

From 2023 to 2030, PGN has planned infrastructure development activities. PGN as a gas subholding Pertamina seeks to integrate infrastructure, both pipelines and non-pipelines.

"This is to increase the use of natural gas as a transitional energy, which hopefully can realize an equitable energy mission," said Haryo.

MSN

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