Pertamina Suffers Loss

Jakarta, April 7 (ANTARA Lampung) - State oil and gas company PT Pertamina suffered a net loss of US$212.3 million in the January-February period due to a decline in its income from upstream businesses.

"In the first two months of 2015, Pertamina suffered a loss of US$212.3 million, particularly because of losses incurred by its upstream businesses, which amounted to US$368 million," President Director of Pertamina Dwi Soetjipto said during a hearing with the House of Representatives (DPR) on Tuesday.

The loss was inevitable, even though the company had set a profit target of US$280 million for the January-February period in its business plan, he added.

According to the business plan, the company has targeted to make US$1.731 billion as net profit in 2015.

However, Pertamina recorded a profit of US$130.4 million from its downstream businesses in the first two months of the year, with the new and renewable energy segment and others contributing US$40.9 million and US$2.5 million, respectively.