Indonesia's State-Owned Energy Company Doubles its First-Half 2019 Profit, an Industrial Info Market Brief

Pertamina, the national energy company of Indonesia, has doubled its net profit, amounting to $660 million for the first half of this year, as compared to $311 million from the same period last year. This increase is mainly attributed to lower cost of production due to the lower prices of crude oil. Aside from the expense cut, other factors that contributed to the net profit increase include the efficiency of operational costs as well as the drop of crude oil imports.