Pertamina Patra Niaga Records Positive Performance at the 2022 Annual General Meeting of Shareholders
Jakarta, June 8, 2023 – Continuing its efforts to distribute energy across the country after the pandemic, PT Pertamina Patra Niaga, a Subholding Commercial & Trading of PT Pertamina (Persero), has achieved positive performance throughout the year 2022.
In 2022, Pertamina Patra Niaga recorded a net profit of USD 193.07 million. This net profit was obtained from business revenue increase in 2022, reaching USD 72,094 million or approximately USD 25,874 million or 55% higher than in 2021.
The 2022 financial performance follows the decisions made during the Annual General Meeting of Shareholders (RUPS), where the Annual Report for the 2022 fiscal year was approved. The meeting took place in Jakarta on Thursday, June 8, 2023.
"Despite the challenging conditions, we could pass 2022 by maintaining positive performance and continuing to fulfill our energy distribution assignments across all regions of Indonesia," said Alfian Nasution, CEO of PT Pertamina Patra Niaga.
The positive financial performance is supported by several factors. It includes increased revenue from non-subsidized product consumption, cost savings through distribution expenses, supply loss management, and an effective work hours utilization.
"Pertamina Patra Niaga managed to reduce distribution costs up to 15% from the 2022 target. Additionally, by managing supply losses and optimizing work hours, we achieved cost savings of more than USD 130 million," Alfian added.
In addition to the financial performance, the operational performance of energy distribution has also shown a positive trend. The availability aspect of fuel supply increased by 5%, and the stockholding days for all types of fuel, LPG, and Avtur were maintained at a safe level.
From the availability aspect, Pertamina Patra Niaga continues to expand its distribution network throughout Indonesia. Throughout 2022, 96 new One Price Fuel (BBM Satu Harga) points were operated, more than 64,000 LPG Subsidized 3 Kg outlets were established through the One Village One Outlet (OVOO) Program, and the number of Pertashop outlets increased to over 2,000 during the year 2022.
"Through these various programs, Pertamina Patra Niaga serves the energy needs of all regions in Indonesia, including the Underdeveloped, Frontier, and Outermost (3T) regions," concluded Alfian.
Fulfilling its entrusted assignments is also a priority for Pertamina Patra Niaga. To ensure better and more accurate distribution of subsidies, the Subsidi Tepat Program was initiated for fuel and LPG distribution.
Digitalization also plays a significant role, where the monitoring of abnormal transactions at petrol stations (SPBU) is continuously strengthened, including through the connectivity of 528 CCTV cameras at gas stations to the Pertamina Integrated Enterprise Data & Command Centre (PIEDCC).
Pertamina Patra Niaga also supports the government's energy transition program. In 2022, 317 Green Energy Stations (GES), 6 Public Electric Vehicle Charging Stations (SPKLU), and 22 Public Electric Vehicle Battery Exchange Stations (SPBKLU) were operational.
"This achievement is a good start for Pertamina's Subholding Commercial & Trading. It will drive Pertamina Patra Niaga to ensure energy availability for all Indonesian communities," said Alfian.
In line with this, Fadjar Djoko Santoso, Vice President of Corporate Communication of PT Pertamina (Persero), stated that Pertamina would continue to optimize its role in energy provision based on the principles of availability, accessibility, affordability, acceptability, and sustainability.
"Pertamina Patra Niaga's performance in distributing fuel and LPG to remote areas contributes to Pertamina's downstream sector performance," said Fadjar.
As a leading company in the energy transition, Pertamina is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the achievement of Sustainable Development Goals (SDGs). These efforts align with Environmental, Social & Governance (ESG) practices implementation throughout all Pertamina's business lines and operations.**