JAKARTA (Yosefardi) – State oil and gas company PT Pertamina booked net profit of US$914 billion in the first nine months to September of 2015, dropped 45% year on year.
The company targets to book net profit of US$1.7 billion this year. The achievement in first nine months represents 53.7% of this year’s target.
The profit drop was due to some factors such as oil price decline, rupiah depreciation, and loss in fuel sales.
Pertamina’s set oil price at US$60 per barrel but the average world oil price now reaches US$50 per barrel.
Pertamina booked revenues of US$31.99 billion, fell 42% from US$55.17 billion in first nine months of 2014. This revenue figure represents 64.1% of this year target (US$49.49 billion).