Pertamina Must Provide Premium For Public Interest

INDUSTRY.co.id - Semarang - Minister of Energy and Mineral Resources (EMR) Ignatius Jonan confirmed that the obligation to fulfill Fuel Oil (BBM) is regulated in Law. Government price controls to keep people's purchasing power and prevent higher inflation.

"We are looking for what the Government can support again so that fuel prices remain under control," said Minister Jonan on his working visit in Ungaran, Semarang regency some time ago.

Minister Jonan revealed, the Government has taken into account the financial health of Pertamina. Government policy is conducted solely for the public interest, and will not harm Pertamina as a state-owned company that runs the policy, one of them by giving rights of management of several oil and gas blocks to Pertamina.

"The first block of Mahakam, it's an additional net income only a year of Rp 7-8 trillion, and added 8 blocks, can add Rp 1 trillion to Rp 2 trillion, so a year can be Rp 10 trillion, and it will be given for 20 years," said Minister of EMR.

According to Jonan, if revenue is reduced because Pertamina must provide Premium, Government compensation is done one of them through strengthening in the upstream sector. Based on the notes in the last few years the profit count obtained by Pertamina is also still very high.

Jonan revealed, in 2017, although down compared to the previous year, Pertamina can still earn a profit of about Rp 36 trillion. Meanwhile, Jonan compared the profit recorded PLN only about Rp 4.4 trillion with subsidy obligations are also equally severe.