Pertamina Sees Drop in 2018 Profit

摘要

Indonesia’s state-owned Pertamina expects to book a net profit of around $2 billion for 2018, down 17% compared to the previous year’s $2.41 billion due to the company having to bear the cost of subsidized gasoline. Pertamina has yet to formally announce its 2018 results, but a company official blamed the drop in profit on the company still having to subsidize Ron 88 gasoline based on the government’s subsidy policy (IOD Dec.14’18).