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In the letter was revealed, Rini approved mainly a number of actions, among others, the decline of the property (19459007) action down ) selective badets upstream, to the segregation of enterprises (19459007) refining unit (UK) IV Cilacap and UK business units V Balikpapan
Explained in more detail, the share down is made to selective upstream badets including but not limited to the right of participation ( participation ), ownership shares, and other forms.
The goal is to maintain control of strategic badets and to seek credible partners. Later, Pertamina seeks other strategic values, such as access to upstream badets in other countries.
The energy observer Pri Agung Rakhmanto added that a share of action does not mean risk. If this is not prudent, the company will lose the potential revenue for having to share with trading partners.
According to him, the sharing takes time, both to get buyers for a good price and for the process of execution.
Therefore, according to Pri, the government should bear the burden of the fuel subsidy that should be a point in the state budget (APBN), not just the responsibility of the company.
" Share-down can not be taken if the government still bears the burden of subsidies that it has to bear in the state budget," Pri said to CNNIndonesia.com Friday (20/7).
Separately, Executive Director of the Institute Reforminer Komaidi Notonegoro the distribution of badets and the right to participate in an oil and gas project ( Oil and Gas ), is a joint clbad action [19459007IntheupstreamoilandgbadectorparticipationisthedistributionofrightsandobligationsbetweentheKKKScontractoranditspartnersAsareturnthepartnerwilleventuallyobtaintheproductionportionoftheupstreamoilandgasproject
"In practice, almost KKKS does not work 100% by itself," Komaidi said.
In partnership with the investment and management an badet, the company can minimize the risks that a company will incur on investments or the acquisition of a particular badet .
In addition, the company may allocate funds to invest in other business units.
According to Komaidi, Pertamina's action plan is understandable. The reason for this is that for some time the company's profits have been eroded because of losses in downstream activities.
 (CNN Indonesia / Adhi Wicaksono) |
According to the financial report of the company, 3% of US $ 3.16 billion in 2016 to US $ 3 , 16 billion. In fact, sales and operating revenues in the same year increased by 17.7% to 36.49 billion US dollars.
The decrease in profit is due to the company must bear a portion of the fuel charge (BBM) for the community, especially for the allocation of premium fuel type whose price is set at Rp 6,450 per liter or less than the economic price.
Cost of goods sold and other direct costs jumped 26.08% from US $ 30.29 billion to US $ 38.19 billion. This was triggered by an increase in the weight of imports of other petroleum products from US $ 3.68 billion to US $ 7.5 billion. The diesel import also increased from 449.22 million US dollars to 853.53 million US dollars
Meanwhile, the company has a number of investment plans in the sectors in upstream and downstream.
Pertamina, Gigih Prakoso said that the company plans to disburse investments up to 5.6 billion US dollars or jumped about 54.8% in relation to the investment made US $ 3.61 billion last year. During this week, Gigih announced that the company would reduce its investment forecast by 201% to $ 4.5 billion to adapt to the change in the implementation of downstream projects and anticipate the changes. macroeconomic developments ranging from rising oil prices to weakening the exchange rate. ] A total of $ 3 billion of total investment is allocated to projects in the upstream sector such as the development of a number of oil and gas terminal projects, including the Mahakam block. This corresponds to the company's vision of modernizing the upstream sector infrastructure.
"They (Pertamina) can get additional management of end blocks such as Rp 50 trillions but they have to pay out at the beginning of Rp 30 trillion". If we consider the amount of funds required, the savings realized by Nicke Widyawati, CEO Pertamina, could reach $ 900 million, or 6 trillion rupees over the next five years (exchange rate of 14,000 rand per US dollar). To illustrate how the Mahakam bloc works, it says that the company needs $ 2 billion a year, which is not yet the case for development, "he said. .
Pertamina, Komaidi continues, can not take partners to manage badets that totaled 51.21 billion US dollars last year. However, the risk, the business financing for expansion becomes limited.
Relative to how much the share effect will save the company's finances, Komaidi can not yet predict. The reason for this is that it depends on the amount of the sharing
In addition, the main permit given by Rini Soemarno is also considered reasonable by Komaidi whereas the company must obtain the l & # 39; shareholder approval to take shares. Moreover, Arief Budiman, director of Pertamina Finance, describes badet allocation is part of a long-term strategy of long-standing partnership
"Partnership is commonplace in sectors capital-intensive energy. can also invest in critical infrastructure for the country, "Arief told CNNIndonesia.com some time ago.
However, Arief badures that in every partnership the company remains in control. [19659004] "The process (partnership), must still be long," said Arief. (lav)
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