Pertamina is Indonesia’s largest state-owned enterprise (SOE) in terms of revenue and income. The company is active in the upstream and downstream sectors of the oil and gas industry. The upstream sector covers the exploration and production of oil, gas and geothermal energy, while its downstream activities cover processing, marketing, trading and shipping.
The company was established in 1957 under the name of Permina but changed its name to Pertamina after it merged with Pertamin in 1968. Pertamina became a huge source of revenue for the New Order government of President Suharto in the 1970s, thus enabling large investments in the country’s infrastructure and successful poverty reduction programs.
The company produces a multitude of commodities such as fuel, kerosene, LPG, LNG, and petrochemicals. It is the second-largest crude oil producer in Indonesia after Chevron Pacific Indonesia (which is the wholly owned subsidiary of America’s Chevron, one of the world’s leading integrated energy companies). Currently, Pertamina owns six oil refineries in Indonesia that have a combined production capacity of one million barrels of oil per day (bpd).
Pertamina operates 5 refineries plant scattered in Dumai, Plaju, Balongan, Cilacap, Balikpapan. At the same time, Pertamina has many products on the downstream business comprising fuel, kerosene, diesel, lubes, aviation, LPG, LNG, marine fuel, vessel, human resources, catering, health services, insurances, asphalt, paraxylene, propylene, polypropylene, green coke, PTA , and others.
Pertamina has been focusing on cover up the domestic demand for energy by managing integrated operations in the oil & gas and geothermal energy sector for more than half a century and has constantly strived to improve its operational and financial performance in order to contribute maximally to the Indonesia economy.