Rolling out profits: Pertamina expects earnings to boom this year
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Pertamina eyes 65% profits rise
Indonesian state oil player Pertamina expects to see net profits of around 25 trillion rupiah ($2.6 billion) this year, up 65% on 2009, finance director Ferederick Siahaan has reportedly said.
Ferederick warned lawmakers from a legislative commission overseeing energy and minerals resources that the company’s earnings were very sensitive to fluctuations in the price of crude, the Jakarta Post reported.
The company booked profit of 15.07 trillion in unaudited results for 2009, the newspaper said.