Upstream Enterprises Push Pertamina's Revenue

PT Pertamina posted a performance growth in the first quarter of 2017. The growth was driven by upstream oil and gas business. Pertamina President Director Elia Massa Manik said Pertamina's first quarter I-2017 is US $

10.15 billion. This figure is up 19% over the same period last year, amounting to US $ 8.55 billion.

The increase was largely supported by the high Indonesia crude price (ICP) during the first quarter of 2017. Pertamina noted, during the first quarter-2017, the average price of ICP reached US $ 51.03 per barrel. Meanwhile, the same period last year was only US $ 30.2 per barrel.

This shows an increase in ICP prices to reach about 69% in the first quarter-2017 compared to the first quarter-2016. Even so, net income (net income) obtained by Pertamina until March 31, 2017 actually dropped. "Pertamina's net income until the first quarter of 2017 is only US $ 760 million or down 25% year on year (yoy)," he said.

The decline in revenue caused Pertamina's profit to decline. "From US $ 1 billion to US $ 760 million billion, down 25%," said Elia. Earnings before interest, tax, depreciation and amortization (EBITDA) were 13% from US $ 2.18 billion to US $ 1.89 billion.

Pertamina Finance Director Arief Budiman said that although EBITDA fell, Pertamina's fundamentals were still relatively good. With good fundamentals and rising oil prices, Pertamina's upstream oil and gas sector could contribute 50% to EBITDA.

IN INDONESIAN

Usaha Hulu Mendorong Pendapatan Pertamina

PT Pertamina membukukan pertumbuhan kinerja pada kuartal I 2017. Pertumbuhan itu didorong oleh usaha hulu migas perusahaan. Direktur Utama Pertamina Elia Massa Manik mengatakan, pendapanan Pertamina kuartal I-2017 sebesar US$ 10,15 miliar. Angka ini naik 19% dibandingkan periode yang sama tahun lalu, sejumlah US$ 8,55 miliar.

Kenaikan itu banyak ditopang dari tingginya Indonesia crude price (ICP) sepanjang kuartal I-2017. Pertamina mencatat, sepanjang kuartal I-2017, harga ICP rata-rata mencapai US$ 51,03 per barel. Sedangkan, periode yang sama tahun Ialu hanya US$ 30,2 per barel.

Ini menunjukan adanya kenaikan harga ICP hingga mencapai sekitar 69% pada-kuartal I-2017 dibandingkan kuartal I-2016. Meski begitu, penghasilan bersih (net income) yang diperoleh Pertamina hingga 31 Maret 2017 justru turun. "Net income Pertamina hingga kuartal I-2017 hanya US$ 760 juta atau turun 25% year on year (yoy)," kata dia

Penurunan pendapatan tersebut menyebabkan keuntungan Pertamina menurun. "Dari US$ 1 miliar menjadi US$ 760 juta miliar, turun 25%," kata Elia. Earnings before interest, tax, depreciation and amortization (EBITDA) tuiun 13% dari US$ 2,18 miliar ke US$ 1,89 miliar.

Direktur Keuangan Pertamina Arief Budiman mengatakan, meski EBITDA turun, fundamental Pertamina masih relatif baik. Dengan fundamental baik dan kenaikan harga minyak, sektor hulu migas Pertamina justru bisa menyumbangkan kontribusi ke EBITDA sebesar 50%.

Kontan, Page-14, Friday, May 26, 2017