Pertamina ranks No. 3 in Fortune Southeast Asia 500
Pertamina reported revenue of US$70.89 billion and profit of US$3.35 billion, up 7.2 percent from a year earlier.
Pertamina placed third on the Fortune Southeast Asia 500 list, behind Singapore's Trafigura Group and Thailand's PTT. Based on data cited in two ANTARA reports, the state-owned energy company booked revenue of US$70.89 billion and profit of US$3.35 billion, up 7.2 percent from the previous year. The result was seen as a sign of Pertamina's competitiveness at the regional level and the scale of Indonesia's energy business. Analysts said the ranking could strengthen investor confidence, but it would also raise expectations for Pertamina to maintain domestic supplies of fuel, LPG and diesel. At the same time, the company was seen as needing to improve efficiency, governance, investment and business transformation amid domestic energy demand, geopolitical volatility and a cleaner energy transition.