"In the first two months of 2015, Pertamina suffered a loss of US$212.3 million, particularly because of losses incurred by its upstream businesses, which amounted to US$368 million," President Director of Pertamina Dwi Soetjipto said during a hearing with the House of Representatives (DPR) on Tuesday.
The loss was inevitable, even though the company had set a profit target of US$280 million for the January-February period in its business plan, he added.
According to the business plan, the company has targeted to make US$1.731 billion as net profit in 2015.
However, Pertamina recorded a profit of US$130.4 million from its downstream businesses in the first two months of the year, with the new and renewable energy segment and others contributing US$40.9 million and US$2.5 million, respectively.(*)
Editor: Heru Purwanto
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