Indonesia’s Pertamina Could Post Profit in Second Half: Research Institute

Still, in the upstream sector, he added, Pertamina can maintain a balance between supply and demand and even requires imports of crude oil, to promote the company’s growth.
He said that the contribution from the refinery sector can also support the distribution of domestic fuel.

Despite a net loss of $767.92 million in the first semesterof 2020, the company is estimated to obtain profit in the second semester.

Pertamina is projected to achieve a net income of about $800 million this year. If this target can be achieved, it will allow the business to become profitable, he said.

Not all the world’s oil and gas companies could gain profits by the end of 2020, he added.

(Editor: Ambaranie Nadia Kemala Movanita)

Source: https://money.kompas.com/read/2020/12/13/164050026/pertamina-dinilai-berpeluang-raih-laba-akhir-2020?page=all#page2.