State oil and gas company Pertamina booked a net profit of US$2.53 billion in 2019, equivalent to Rp35.8 trillion. It declined 6.6% from US$2.71 billion in 2018, but relatively stable amid the global economic slowdown. Revenue dropped 5.8% to US$54.58 billion, while Indonesian crude price (ICP) price was high at US$62 per barrel, and the rupiah tended to appreciate to Rp14,146 against the United States (US) dollar. The economy faced some pressure along with the global dynamic, affecting the oil and gas sector last year.
To subscribe please click here