Holding Oil and Gas Enhances SOEs to Become a Global Player
By : Herry Barus And Aldo Bella Putra | Tuesday, March 27 2018 - 16:00 IWST
![Pertamina (Foto: Ist)](https://eagle.industry.co.id/uploads/berita/detail/2500.jpg)
Pertamina (Foto: Ist)
INDUSTRY.co.id - Jakarta - Executive Director of Management Institute Faculty of Economics and Business University of Indonesia Toto Pranoto assess the formation of oil and gas holding is expected to encourage SOE companies to become global players.
"Holding oil and gas is an alternative to encourage SOEs, in this case Pertamina, can increase as a global player," he said in a discussion titled "Observing the Formation of Holding BUMN Migas" in Jakarta, Monday (26/3/2018).
In the formation of holding state-owned oil and gas, PT Pertamina (Persero) will become holding while PT Perusahaan Gas Negara (Persero) Tbk becomes a subsidiary of Pertamina.
Toto said that compared to Malaysian oil and Gas Company Petronas, Pertamina has been declining in the last decade. In fact, once Petronas once studied at Pertamina.
In terms of company assets, for example, Petronas was able to grow up to 15.9 percent in the first half of 2017, well beyond Pertamina's only 4.9 percent growth.
Petronas revenue also called more moncer with growth in 2016 to 22 percent while Pertamina only 19 percent.
"Because Petronas may be like Pertamina in the 80s in terms of organization, maybe because they are regulators and hold the business as a whole, different from Pertamina now," he said.
Toto said that when Petronas can expand its business to the whole world, Pertamina can expand to certain networks only.
"It could be because of the asset and financial strength, how can it be robust and increase the 'value' Yes by managing oil and gas as a whole.That is why this oil and gas holding can be an alternative to how Pertamina as a global player can increase," he said.
Furthermore, Toto argues that another problem that makes the competitiveness of Indonesian SOEs weak is slow decision making.
This is in contrast to state-owned enterprises such as Temasek (Singapore) and Khazanah (Malaysia) that move independently in a corporation without intervention.
"We hope if the oil and gas holding can be established well, hopefully we can have a more agile state," he concluded. (Ant)
Read Also
The 7th Abu Dhabi Dialogue in Dubai: Commitment to Enhance Migrant…
Pertamina Hulu Rokan expounds on wetland innovations at COP28
Pertamina reaffirms its commitment to net zero emissions by 2060
President Jokowi Inaugurates Tangguh Train 3 Project in Teluk Bintuni…
MMA Offshore Automates Onboarding With Boomi
Today's Industry
![Totolink outlet. (Photo: Public Relation of Totolink)](https://eagle.industry.co.id/uploads/berita/small/5782.jpg)
Kamis, 11 Juli 2024 - 22:08 WIB
Totolink Strengthens Commitment to Innovative and Reliable Network Solutions for Indonesia
Marking a strategic step, Totolink Indonesia proudly announces the enhancement of its head office in Jakarta, located at Harco Mangga Dua Blok E No.28, Sawah Besar, Central Jakarta.
![The President Commissioner of Bersama Digital Data Centres (BDDC), Setyanto Hantoro (fourth right) and The President Director of BDDC, Angelo Syailendra (third right) during the BDDC JST1 Inauguration Ceremony in Jakarta on Wednesday (10/07/2024).](https://eagle.industry.co.id/uploads/berita/small/5781.jpg)
Kamis, 11 Juli 2024 - 19:03 WIB
BDDC Inaugurates JST1 TIER IV Data Centre in Jakarta to Strengthen Digital Infrastructure
Bersama Digital Data Centres (BDDC), an in-town data centre provider with interconnectivity and integrated digital systems, inaugurated its 5 MW Tier IV data centre facility, JST1 (Jakarta Selatan…
![The Board of Directors of PTT Global Chemical (GC) pose for a group photo after receiving the prestigious SNI (Indonesian National Standard) certification for its InnoPlus Polyethylene resin. (Photo: GC Public Relations)](https://eagle.industry.co.id/uploads/berita/small/5780.jpg)
Kamis, 27 Juni 2024 - 15:30 WIB
Global Chemical Achieves Prestigious SNI Certification for InnoPlus Polyethylene Resin
PTT Global Chemical (GC) is proud to announce its successful attainment of the prestigious SNI (Indonesian National Standard) certification for its InnoPlus Polyethylene resin.
![Financial Literacy](https://eagle.industry.co.id/uploads/berita/small/5779.png)
Rabu, 26 Juni 2024 - 22:47 WIB
The Importance of Financial Literacy
Financial literacy refers to the ability to understand and use various financial skills effectively, including personal financial management, budgeting, and investing.
![Unveiling New Opportunities](https://eagle.industry.co.id/uploads/berita/small/5778.png)
Rabu, 26 Juni 2024 - 14:52 WIB
Unveiling New Opportunities
As we step into 2024, the cryptocurrency landscape continues to evolve, presenting unprecedented opportunities for investors, developers, and enthusiasts.
News Comment