Restructured Pertamina targets revenue of $93 billion in 2024

[Indos]

Restructured Pertamina targets revenue of $93 billion in 2024

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Divya Karyza (The Jakarta Post)
PREMIUM
Jakarta ● Sun, September 19, 2021

Major restructuring completed recently at Pertamina is expected to help the state-owned energy giant achieve US$93 billion in revenue and $21 billion in net profit within three years.

State-Owned Enterprises (SOEs) Minister Erick Thohir said given that the company was aiming for a valuation of $100 billion in 2024, booking $93 billion in revenue was not an impossible task. “I think it is possible to achieve the target,” he said in an interview with CNBC Indonesia on Thursday.

Fajriyah Usman, Pertamina’s acting senior vice president of corporate communications and investor relations, said the creation of six subholding companies would allow Pertamina to improve its operational and financial performance, as well as optimize spending.

Restructured Pertamina targets revenue of $93 billion in 2024

Major restructuring completed recently at Pertamina is expected to help the state-owned energy giant achieve US$93 billion in revenue and $21 billion in net profit within three years.

www.thejakartapost.com

 

[Indos]

Pertamina Mandalika SAG Team - First test of 2021 season

 

[Indos]

From EV Battery to Energy Storage, Pertamina is Ready to Develop the Battery Industry Ecosystem in Indonesia
2021-02-13 09:09:00
News Release
1846
Jakarta, February 13, 2021 - PT Pertamina (Persero) emphasized that the company together with state-owned enterprises that are members of the Indonesia Battery Holding (IBH) are serious and focused on developing the Electrical Vehicle (EV) ecosystem in Indonesia by accelerating the development of EV Battery.

In Indonesia's framework of ecosystem development and EV battery development, SOEs will carry out 7 (seven) essential stages: mining, refining, precursor plant, cathode plant, battery cell, battery pack, and recycling.

Pertamina will work in the four middle fields, namely, precursor, cathode, battery cell and battery pack. While at the recycling stage, Pertamina will work together with PLN. As for the upstream sector, PT Antam and Inalum will work together.

President Director of Pertamina, Nicke Widyawati, explained that Pertamina would ensure that the stages and steps in developing EV Battery go well. In 2021, Pertamina and three other SOEs will form a joint venture company (Joint Venture) Indonesia Battery Corporation / IBC. Pertamina has also collaborated with two global companies and is exploring cooperation with other companies.

"The development of the battery industry, which has great potential in Indonesia, is for mobility, especially two wheels or motorbikes that are potentially faster than four wheels," she said.

The second, continued Nicke, is the Energy Storage System (ESS). According to her, the opportunity to develop ESS is quite large in Indonesia because there is a potential to maintain supply reliability from PLTS (Solar Power Plants).

"ESS is a big market. So in the future, Pertamina will also enter there," said Nicke.

Regarding the Solar Power Plants, as a pioneer, Pertamina has built Solar Power Plant at the Badak Refinery with a capacity of 4 MW, then continued with the construction of Solar Power Plants in several other refinery areas such as in Dumai and Cilacap and Sei Mangkei. At the end of last year, Pertamina also succeeded in installing Solar Rooftops at 63 petrol stations. This effort will continue into the following years with the target of all petrol stations and other Pertamina operational facilities throughout Indonesia. **

From EV Battery to Energy Storage, Pertamina is Ready to Develop the Battery Industry Ecosystem in Indonesia | Pertamina

PT Pertamina (Persero) emphasized that the company together with state-owned enterprises that are members of the Indonesia Battery Holding (IBH) are serious and focused on developing the Electrical Vehicle (EV) ecosystem in Indonesia by accelerating the development of EV Battery.

www.pertamina.com

 

[Indos]

Pertamina Shipping Holding get new VLCC recently ( July 2021). This is built in Japan but smaller oil tankers are built in Indonesia, particularly by another state owned companies, PT PAL and PT Dok Kodja Bahari

 

[Song Hong]

Indonesia got plenty of potential for Geothermal. In Borneo, plenty of potential for hydro. There was a time I try calculate if Indonesia can go completely renewable. Could be very likely.

 

[Indos]

Indonesia got plenty of potential for Geothermal. In Borneo, plenty of potential for hydro. There was a time I try calculate if Indonesia can go completely renewable. Could be very likely.

I think the biggest potential is solar roof by common people as Indonesian mostly live in houses. Very big potential indeed.

For geothermal this is the news :

Indonesia to form ‘world’s largest’ geothermal holding firm
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Steam rises from a chimney on Jan. 13, 2020 at PT Geo Dipa Energi's geothermal power plant in the Dieng working area (WKP) in Wonosobo, Central Java. The government announced on Feb. 22, 2021 a plan to merge Geo Dipa with PLN subsidiary PT PLN Gas and Geothermal (PLN GG) and Pertamina PT Pertamina subsidiary Geothermal Energy (PGE) to form a joint holding company to exploit the country's geothermal potential.(Antara/Anis Efizudin)


Norman Harsono (The Jakarta Post)
PREMIUM
Jakarta ● Fri, February 26, 2021

The State-Owned Enterprises (SOEs) Ministry plans to merge PT Geo Dipa Energi, PT Pertamina Geothermal Energy (PGE) and PT PLN Gas and Geothermal (PLN GG) this year to form a giant geothermal holding company to push green energy use in the country.

Together, the three companies have an installed geothermal capacity of 1,022.5 megawatts (MW), or nearly half of Indonesia’s 2,130.7MW installed capacity, according to the Energy and Mineral Resources Ministry.

“The joint [geothermal holding] company will be the biggest in the world in terms of installed capacity,” SOEs Deputy Minister Pahala Mansury told The Jakarta Post by text message on Feb 22. “The holding company will combine their strengths in development or drilling, in transmitting energy to end users and in financing,” he said.

Indonesia to form ‘world’s largest’ geothermal holding firm

The government appears set to steam ahead in developing the country's geothermal potential, with a plan to form a joint geothermal holding company by merging three SOEs.

www.thejakartapost.com

 

[Song Hong]

Indonesia’s technical hydropower potential is estimated at around 75,000 MW (75GW), with untapped resources concentrated on the islands of Sumatra, Java and Sulawesi.
(My comment: Most Indonesia hydro is in Borneo and they are untapped)

Indonesia Electricity - consumption
213.4 billion kWh (2016 est.)
(My comment: This is 22 GW)

In short, hydro alone would be able to power entire Indonesia grid. I estimate Indonesia total energy consumption as 50 GW (including gasoline car...etc). Hydro alone can power that.

East Asia and Pacific hydropower regional profileEast Asia and Pacific

This region stands at the forefront of the global hydropower landscape. China, as the world leader, has an exploitable hydropower capacity ranging between 400-700 GW, largely attributed to its conducive geographical features, especially in the southwestern regions.

www.hydropower.org

Indonesia - The World Factbook

www.cia.gov

 

[Song Hong]

I always got this feeling Javanese are much smarter than Malays. When Malays see Javanese, they have a congenital inferior complex. I think I ever came across something like Tunku Abdul Rahman feel inferior in front of Sukarno (cannot cite the source, and not sure if I remember correctly).

 

[Indos]

Tuesday 14 July 2020, 14:31 WIB

Pertamina Cooperates with 3 National Shipbuilding Companies ​

PT Pertamina President Director, Nicke Widyawati



PT Pertamina (Persero) has officially established cooperation with three national shipbuilding companies, namely PT Dok and Perkapalan Surabaya (Persero), PT Dok and Perkapalan Kodja Bahari (Persero), and PT Industri Kapal Indonesia (Persero).

Pertamina President Director Nicke Widyawati said this collaboration was Pertamina's effort to support the domestic shipping industry while optimizing the level of domestic components (TKDN) through synergies with state-owned shipbuilding companies that are members of the KIM (Manufacturing Industry Cluster).

"This is one of our dreams. The government has formed a TKDN team, plus there are provisions for state owned company (SOE) to synergize, this is what underlies us in doing cooperation," Nicke said during the signing of the virtual cooperation agreement, Tuesday (14/7). According to Nicke, in the next 5 years Pertamina will procure 48 vessels.

All of the vessels have been identified and as many as 15 of them will be made domestically. "We hope that these 15 ships can be produced domestically to strengthen our domestic business or industry. Now this is what we can use as the first step to revive domestic shipyards," She continued.

Pertamina Kerja Sama dengan 3 Perusahaan Galangan Kapal Nasional

PT Pertamina resmi menjalin kerja sama dengan PT Dok dan Perkapalan Surabaya PT Dok dan Perkapalan Kodja Bahari dan PT Industri Kapal Indonesia

mediaindonesia.com

 

[Indos]

Third biggest energy company in Indonesia is part of Indonesia private sector, PT Medco Energy. While the first (PT Pertamina) and second biggest (PT PLN) are part of state owned companies.

Medco Energy

The company start in oil and gas industry, it operates oil field in Middle East as well, owner of second biggest gold mining in Indonesia (majority stake holder (80 %) in PT Newmon Nusa Tenggara), power generation company, and active in geothermal industry, agricultural and other businesses

One of their subsidiaries

Some time they have strategic partnership with PT Pertamina

 

[hualushui]

giant achieve US$93 billion in revenue and $21 billion in net profit

 

[Indos]

PT Pertamina in F 1 competition

 

[Indos]

One of Pertamina sub holding companies, PT Pertamina International shipping, will sell some of its shares in Jakarta Stock Exchange. The holding has 6 oil and LPG terminal/storage dedicated ports and 750 vessels.

If all Pertamina shipping vessels can be sourced to local shipyard it will generate huge benefit to our economy, not only for local shipyards, but also steel companies and other companies which can ( potentially ) produce ships components like in electronics system (PT LEN Industry) and others

It is a big potential lost when Pertamina shipping procurement plan in the next 5 years to buy 48 more vessels are in majority build by foreign shipyard, while only 15 vessel procurement are taken by local shipyards.

 

[Indos]

PGN, KAI to build virtual pipeline system to develop gas market
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PGN's floating storage and regasification unit (FSRU) in Lampung is pictured in an undated photo.(PGN/PGN)


Divya Karyza (The Jakarta Post)
PREMIUM
Jakarta ● Fri, October 1, 2021

Pertamina’s gas subholding, PT Perusahaan Gas Negara (PGN), has announced its cooperation with railway operator PT Kereta Api Indonesia (KAI) for the transportation of liquefied natural gas (LNG).

The cooperation between the two state-owned enterprises is aimed at developing the domestic gas market and helping the government reach the targeted 22 percent share of gas in the national energy mix by 2025.

PGN would conduct trials this year for the use of KAI railway lines, PGN president director Haryo Yunianto said, adding that KAI was currently mapping out the loading and unloading paths and methods. An agreement on the cooperation had been signed on July 14, Haryo said, and a team of representatives from PGN and KAI had been set up on Sept. 16 to conduct a study and handle the subsequent implementation.

PGN, KAI to build virtual pipeline system to develop gas market

Perusahaan Gas Negara (PGN) has announced its cooperation with railway operator PT Kereta Api Indonesia (KAI) for the transportation of liquefied natural gas.

www.thejakartapost.com

 

[Indos]

PT Pertamina developed and produced BioAvtur. The development is also helped by a state owned university (Institute Technology Bandung/ITB)