Pertamina: The Only Indonesian Company on the Fortune Global 500 list, Pertamina Appreciates All Parties Support

PT Pertamina (Persero) is once again listed as the only Indonesian company included in the 2021 Fortune Global 500 list. With a company revenue value of USD 41.47 billion in the 2020 financial year, Pertamina achieves the 287th position.

“We would like to thank all stakeholders because Pertamina’s achievements cannot be separated from the positive support from various parties, the Board of Directors, the Board of Commissioners, and all Pertamina Group employees, as well as shareholders, the Government, the community, and other stakeholders. This is also an international recognition that Pertamina is equal to other world-class companies,” said President Director of Pertamina, Nicke Widyawati.

Nicke said that in the challenges of the pandemic since last year, Pertamina experienced a triple shock, resulting in a significant decline in revenue. Pertamina was able to raise revenue to USD 41.47 billion and earn a profit of USD 1.05 billion in 2020. It is due to innovations and business breakthroughs across all business lines and ongoing organizational transformation.

As SOE, Pertamina is consistent in ensuring the supply of energy for the country through various programs, including One Price Fuel, Conversion of fuel to gas for Fishermen and Farmers, construction of Natural Gas Transmission & Distribution Networks, and other Downstream Infrastructure.

Through the achievement of Pertamina’s operational and financial performance, the Government’s total revenue in 2020, which was contributed by Pertamina almost reached IDR 200 Trillion, namely through payment of Taxes, Dividends, and Non-Tax State Revenues (PNBP) of IDR 126.7 Trillion and state revenues from Crude Oil and State Condensate (MMKBN) from Pertamina’s oil and gas blocks amounting to IDR 73.1 Trillion.

With an energy ecosystem that continues to run from upstream to downstream, Pertamina maintains the survival of 1.2 million workers, as well as the multiplier effect on around 20 million workers indirectly. Pertamina’s support for the broader community for the recovery of the pandemic also continues to be felt, starting from the construction of several COVID-19 hospitals, transportation assistance for oxygen distribution, to Pertamina’s attention to more than 13,000 MSMEs affected by the pandemic to be able to survive and even upgrade to class.

“The challenges of the COVID-19 pandemic are not easy. In addition to solidifying steps to achieve the target market value of IDR 100 billion by 2024, all management levels and employees remain focused on providing services to the community. We are optimistic that we will continue to grow and continue to provide the widest possible benefits for the community and the country,” said Nicke.

The Fortune Global 500 ranking is an annual event conducted by Fortune magazine since 1955. The benchmark is the amount of revenue, including consolidated gross revenue. Other indicators are shareholder equity participation, market capitalization, profits, number of employees, and since 1990 the company’s country of origin indicator is also considered in the Fortune Global 500.

In the energy sector, several names of International Oil Companies are also listed in the Fortune Global 500 ranking in 2021. Although financially they managed to achieve significant revenue, the company suffered losses. These include BP (18), Royal Dutch Shell (19), Exxon Mobile (23), Chevron (75), and Petronas (277). Below Pertamina’s ranking, Repsol is in position 381, while from other industries there are Coca-Cola (370), Tesla (392), and Danone (454).**