Patra Niaga targets 10-fold increase in revenue

PT Patra Niaga, a downstream arm of state oil and gas firm PT Pertamina, expects an almost 10-fold increase in revenue within the next three years to about Rp 20 trillion (1US$=9,200).

"We target to take 10 percent of the market share that Pertamina will lose. Pertamina is expected to lose 30 percent of market share because the implementation of free-maket system under the oil and gas law," the company's president director Toharso said on Friday.

The firm's busineses include oil and gas processing, handling and fuel distribution and marketing.

Last year, the company booked Rp 1.4 trillion in revenue, and hoped to increase the revenue to Rp 2 trillion this year.

Now, Patra Niaga sells 15.000 metric tons of high speed diesel (HSD) per month at market price to several industrial companies and ships, including Gajah Tunggal, Mitsubishi Chemical Indonesia di Merak, ships in Merak, Surabaya dan Jakarta, Pakuwon di Surabaya, dan Batam.

Besides, Patra Niaga sells marine fuel oil (MFO) to Makassar Power as much as 4,000 kiloliters per month since 2007.

Patra Niaga imports HSD from Singapore.

The firm expects to spend Rp 100 billion in capital expenditure this year. (Bernard)