Table: Pertamina suffers losses from distibuting subsidized fuels, LPG

State owned oil and gas firm PT Pertamina suffered Rp 2.5 trillion (US$282.6 million) in losses from the distribution of susidized petroleum based-fuels (BBM) and another Rp 3.2 trillion in losses from the distribution of subsidized liquid petroleum gas (LPG) last year.

In the hearing with the House of Representatives' Commission VII which is in charge of energy affairs on Feb. 24, 2011, company president director Karen Agustiawan said, however, she was optimistic that the firm would book Rp 0.8 trillion in net profit from the distibution of subsidized BBM and another Rp 2.3 trillion from the distribution of subsidized LPG.

She also said the firm booked a net profit of Rp 15.829 trillion last year with average ICP at $79.4 per barrel and the US dollar rate of Rp 9,085. This year, the firm expects its net profit to incrase to Rp 17.7 trillion with assumed ICP of $80 per barrel and the dollar rate of Rp 9,000. (Godang/Kanti)

Product	2010 Unaudited	2011 Target
PSO
BBM (petroleum-based-fuels)	?	?
- Premium/Bio	22,919,140 KL	23,157,655* KL
- Kerosene	2,349,311 KL	2,315,599* KL
- Diesel fuel/Bio	12,946,673 KL	12,994,142* KL
- Total BBM	38,215,125 KL	38,467,396 KL
LPG	2.71 MT	3.52 MT
Non PSO
BBM Non PSO	17,561,980 KL	19,282,226 KL
Aviasi	3,194,015 KL	3,300,000 KL
LPG	1,126,965 KL	900,000 KL
Lubricants	456,945 KL	546,000 KL
NBBM, Pelkim	584,269 KL	1,762,025 KL
Others	1,102,561 KL	4,664,936 KL
UPSTREAM
Oil
- PEP	128.9 MBOPD	134 MBOPD**
- PHE	53.5 MBOPD	66.4 MBOPD
- CEPU	8.3 MBOPD	7.7 MBOPD
Gas
- PEP	1,053,7 MMSCFD	1,090 MMSCFD
- PHE	404.9 MMSCFD	430 MMSCFD
Geothermal	15.9 MT - 2,115 Gwh	16.5 MT - 2,188 Gwh
REFINING
- Crude intake	299,116 MBBL	301,497 MBBL
- Intermedia	11,207 MBBL	4,500 MBBL
- Gas	1,951 MBBL	7,486 MBBL
- BBM	235,843 MBBL	247,316 MBBL
- Non BBM	21,952 MBBL	?23,881 MBBL
- Others	37,463 MMBBL	29,220 MBBL
Yield
- On crude	99%	99.6% - 74%***
- On intake	95%	95.8% - 71%***
Note:
*Target set by BPHMIGAS for the provision of select petroleum-based fuels in 2011)
**Total yield (Premium, kerosene, diesel oil, avtur)
***Pertamina's internal target (2011 target?submited to?BPMIGAS is 132 MBOPD)
Source: Pertamina's 2010 financial report and 2011 work plan and budget