October 2003

Trends and Resources

HP Impact: Indonesia state company sees 33% jump in profits

Pertamina, Indonesia's state-owned oil and gas company, announced company profits for January - December 2002 of $1.66 billion, up 33% from $1.22 billion in fiscal year 2001. Of the total profit, Pert..

Weirauch, Wendy, Hydrocarbon Processing Staff

Pertamina, Indonesia's state-owned oil and gas company, announced company profits for January - December 2002 of $1.66 billion, up 33% from $1.22 billion in fiscal year 2001. Of the total profit, Pertamina will turn over 60% or $991 million to the Indonesian government as dividend. Overall net profits in 2002 were recorded at $704 million, while Pertamina's net profits from its own operations were worth $678 million. Pertamina also announced the interim six-months report for the first half of 2003. Net profits for this period (excluding subsidiaries) are $306.6 million. This indicates it is on track to maintain a profit rise for 2003 on par with 2002. The 2002 increase in profits was mainl

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