Government Continuous Support to Pertamina: USD 2.40 Billion for Q2 2024 Fuel Price Disparity Compensation Disbursed
Dear valued investors,
We are pleased to announce that at the end of November 2024 PT Pertamina (Persero) has received total compensation for the 2nd Quarter of 2024, amounted to around USD 2.40 billion (including tax) or USD 2.16 billion (excluding tax). The compensation fund covering the price difference between the formula price and the retail price at gas stations for the distribution of JBT Diesel and JBKP Pertalite, that has been reviewed by the Financial and Development Supervisory Agency (BPKP).
PT Pertamina (Persero) expressed its gratitude to the Government, particularly the Ministry of Finance, for expediting the payment of fuel compensation funds. These compensation payments demonstrate the government’s strong support for Pertamina in fulfilling its role of providing energy throughout the country.
Pertamina's President Director, Simon Aloysius Mantiri, announced that the Government, through the Ministry of Finance, has completed the 2nd Quarter 2024 fuel compensation payment.
"We greatly appreciate and thank the Government, especially the Ministry of Finance, the Ministry of State-Owned Enterprises, and the Ministry of Energy and Mineral Resources, for their support to the company by accelerating the payment of fuel compensation funds disbursed by Pertamina in the second quarter of 2024. This compensation fund will be used to continue to support the Government's program in energy self-sufficiency and ensure the availability of energy for people throughout Indonesia" Simon stated in a written statement.
Simon also stated that Pertamina will continue to support the new Government aims to achieve energy self-sufficiency and prioritize in energy resilience, availability, and sustainability, and provide energy through innovative solutions that bring value to society. We focus our business through a dual-growth strategy designed to strengthen Indonesia's energy security while developing low-carbon business for energy transition.
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We sincerely appreciate your continued and profound interest in Pertamina. If you have any questions regarding this email or any other matters related to Pertamina’s scope of business, please do not hesitate to contact our Investor Relations Team at pertamina_ir@pertamina.com
Best regards,
Pertamina Investor Relations