Pertamina find place on 2021 fortune global 500 list

Jakarta (ANTARA) - State-owned oil and gas firm PT Pertamina (Persero) said it has become the only Indonesian company to make it to the 2021 Fortune Global 500 list, reaching the 287th place in the rankings, ahead of several well-known companies.

"The international recognition shows that we are equal to other world-class companies," president director of PT Pertamina (Persero), Nicke Widyawati, said in a statement issued in Jakarta on Tuesday.

The state-owned enterprise (SOE) experienced a triple shock due to the impact of the COVID-19 pandemic, which significantly decreased its revenue, she stated.

However, innovations conducted across business sectors as well as organizational transformation helped the company to boost revenues to US$41.47 billion and earn a profit of US$1.05 billion last year, she added.

PT Pertamina also contributed almost Rp200 trillion to the governments income in 2020, the president director said.

The contribution comprised Rp126.7 trillion in tax payments, dividends, and non-tax state revenues (PNBP) as well as Rp73.1 trillion in state revenues from the state's share of crude oil and condensate (MMKBN) from the enterprises oil and gas blocks, she informed.

As an SOE, Pertamina has consistently ensured energy supply for the nation through various programs, including the one-price fuel policy, oil to gas fuel conversion for fishermen and farmers, construction of natural gas transmission and distribution system, as well as other downstream infrastructures, she added.

"We are optimistic that we will continue to grow and provide the fullest benefits for Indonesia," said Widyawati.

Besides PT Pertamina (Persero), several international oil and gas companies have made it to the Fortune 500 list -- BP (18th place), Royal Dutch Shell (19th place), Exxon Mobil (23rd place), Chevron (75th place), Petronas (277th place), and Repsol (381st place).

In addition, several well-known non-oil and gas enterprises have also been included in the list, such as Coca-Cola (370th place), Tesla (392nd place), and Danone (454th place).