State oil and gas firm Pertamina has decided to distribute dividends of Rp7.12 trillion or 42.46 percent of its last year`s net profit of Rp16.77 trillion.The decision was reached at the company`s general shareholders meeting on Tuesday, Pertamina spokesman M Harun said on Wednesday.
He said the 2010 net profit represented a three percent increase compared to Rp16.27 trillion in 2009.
In 2010, Pertamina suffered Rp2.5 trillion in losses from the sales of subsidized fuels due to the low alpha reference of only Rp556 per liter, he said.
In addition, it also suffered Rp3.24 trillion in losses from the sales of non-subsidized liquefied petroleum gas in 12-kg and 50-kg cylinders, he said.
He said the general shareholders meeting also agreed on the target of Pertamina`s profit for 2015 at Rp54 trillion and a change in its vision from world-class oil and gas company to world-class energy company.
Last year, Pertamina saw oil production increase 9 percent, gas 6 percent and geothermal energy 1 percent compared to a year earlier, he said.
In 2010, Pertamina also acquired a 13.07 percent stake in Offshore South East Sumatera (OSES) Block, raised its stake in Block Offshore North West Java (ONWJ) block to 7.25 percent and increased its placement in Semai II Block by 15 percent through Pertamina Participating Interest (PPI) mechanism.(*)
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