Expenses Up, Pertamina's Net Profit of 24%

The 19% revenue jump was eroded by cost of goods sold.

Throughout the first half of this year, PT Pertamina booked revenues of US $ 20.5 billion. Achievements grew 19% over the same period last year recorded. US $ 17.2 billion.

Despite the increase in revenue, the net profit of the state-owned oil and gas company declined by 24 percent compared to the first half of 2016. Throughout the first six months of this year, Pertamina narrowed net profit of about US $ 1.4 billion.

      Pertamina President Director Elia Massa Manik said, in the first half of 2017, external conditions are still very volatile, with the trend of world oil prices continue to rise. On the one hand, the rise in crude oil prices becomes an incentive for upstream businesses. Only, the rise in crude oil prices causes the cost of goods sold in the downstream sector to swell.

"This has much impact on the company's net profit, although professionally downstream sector grows positive," said Elia, Wednesday (16/8).

Anticipating these external factors, Pertamina continues to run its efficiency and value added program through a break through project (BTP) of US $ 360 million, as well as other strategic initiatives.

"Efficiency and innovation can create added value for the company to be the key to Pertamina facing the global oil and gas industry situation that has not improved," explained Massa.

Operational performance

In terms of operational performance, Pertamina recorded a fairly good growth during the first half of 2017 compared to the first half of 2016. This is reflected in the upstream sector, oil and gas production rose by about 8% to 692,000 barrels of oil equivalent per day (mboepd) during the first half of this year.

The increase in oil and gas production consisted of oil which rose 12% to 343 mboepd in the first half of 2017. Meanwhile, natural gas grew 4% to 2,022 million cubic feet per day (mmscfd) in the first half of 2017 compared to the first semester of 2016.

In the marketing and trading sectors, sales of fuel oil (BEM) in the first half of 2017 rose 4% to 32.60 million kiloliters. Similarly, non-fuel sales of domestic gas, petrochemicals and lubricants rose 6% in the first half of 2017 to 7.82 million kiloliters.

The increase in non-subsidized fuel sales portion also contributes to Pertamina's revenue increase. As of June 2016, Pertam Series gasoline (Pertamax, Pertamax Plus / Turbo, Pertamax Racing and Pertalite) first gasoline (Pertamax Plus / Turbo, Pertamax Racing and Pertalite) totaled 18.9% and Premium 81.1%. 

     But as of June 2017, the share of gasoline sales jumped and has exceeded the Premium, which is 57.6% versus 42.4%. Meanwhile, the sales portion of diesel (Pertamina Dex and Dexlite) per June 2017 reached 3.6% or up compared to June 2016 position which was only 1.2%.

In terms of processing performance, total intake was realized at 157.06 million barrels, total output of 148.6 million barrels and valuable product volume of 122.64 million barrels. Then yield valuable product to total intake 78.09%.

Elia added that Pertamina is implementing the refinery development masterplan (RDMP) program implemented in four refineries, namely Balikpapan, Balongan, Cilacap and Dumai, as well as grass root refinery in Tuban and Bontang. Claim Director of Pertamina, so far, the program is still running on schedule.

IN INDONESIA

Beban Naik, Laba Bersih Pertamina Ajlok 24%

Lonjakan pendapatan sebesar 19% tergerus oleh beban pokok penjualan.

Sepanjang semester I-2017 ini, PT Pertamina membukukan pendapatan sebesar US$ 20,5 miliar. Pencapaian tumbuh 19% dibandingkan periode sama tahun lalu yang tercatat. US$17,2 miliar.

Meski menorehkan kenaikan pendapatan, laba bersih perusahaan minyak dan gas milik pemerintah ini justru menurun 24% daripada pencapaian pada semester I-2016. Sepanjang enam bulan pertama tahun ini, Pertamina mengempit laba bersih sekitar US$ 1,4 miliar.

      Direktur Utama Pertamina Elia Massa Manik mengatakan, pada semester I-2017, kondisi eksternal masih sangat volatil, dengan tren harga minyak dunia terus meningkat. Di satu sisi, kenaikan harga minyak mentah menjadi insentif bagi bisnis hulu. Hanya, kenaikan harga minyak mentah menyebabkan beban pokok penjualan di sektor hilir membengkak. 

"ini banyak berdampak pada perolehan laba bersih perusahaan , kendati secara profesional sektor hilir tumbuh positif" kata Elia, Rabu (16/8).

Mengantisipasi faktor eksternal tersebut, Pertamina tetap menjalankan program efisiensi dan penciptaan nilai tambah melalui break through project (BTP) yang sudah mencatat US$ 360 juta, serta inisiatif strategis lain.

"Efisiensi dan inovasi dapat menciptakan nilai tambah bagi perusahaan menjadi kunci Pertamina menghadapi situasi industri migas global yang belum membaik," terang Massa. 

Kinerja operasional 

Dari sisi kinerja operasional, Pertamina mencatatkan pertumbuhan yang lumayan bagus sepanjang semester I-2017 dibandingkan semester I-2016. Ini tergambar dari sektor hulu, produksi minyak dan gas bumi naik sekitar 8% menjadi 692.000 barel setara minyak per hari (mboepd) sepanjang semester pertama tahun ini.

Kenaikan produksi migas itu terdiri atas minyak yang meningkat 12% menjadi sebesar 343 mboepd pada semester pertama 2017. Adapun gas bumi, naik 4% sebesar 2.022 juta kaki kubik per hari (mmscfd) pada semester pertama 2017 dibandingkan semester pertama 2016.

Di sektor pemasaran dan niaga, penjualan bahan bakar minyak (BEM) pada semester I-2017 naik 4% menjadi 32,60 juta kiloliter. Demikian pula, penjualan non-BBM berupa gas domestik, petrokimia, dan pelumas naik 6% pada semester pertama 2017, menjadi 7,82 juta kiloliter.

Peningkatan porsi penjualan BBM non-subsidi juga berkontribusi pada kenaikan pendapatan Pertamina. Per Juni 2016, porsi penjualan bahan baker khusus (BBK) Perta Series jenis gasolin (Pertamax, Pertamax Plus/Turbo, Pertamax Racing dan Pertalite) baru mencapai 18,9% dan Premium 81,1%. 

    Namun per Juni 2017, porsi penjualan gaselin melonjak dan sudah melampaui Premium, yakni 57,6% berbanding 42,4%. Sedangkan, porsi penjualan diesel (Pertamina Dex dan Dexlite) per Juni 2017 mencapai 3,6% atau naik dibandingkan posisi Juni 2016 yang hanya 1,2%.

Terkait kinerja pengolahan, total intake terealisasi 157,06 juta barel, total output 148,6 juta barel dan volume valuable product 122,64 juta barel. Kemudian yield valuable product to total intake 78,09 %.

Elia menambahkan, Pertamina melaksanakan program refinery development masterplan (RDMP) yang dilaksanakan di empat kilang, yakni Balikpapan, Balongan, Cilacap, dan Dumai, serta grass root refinery di Tuban dan Bontang. Klaim Direktur Utama Pertamina, hingga sejauh ini, program tersebut masih berjalan sesuai jadwal. 

Kontan, Page-14, Friday, August 18, 2017