Supporting Pertamina in Energy Provision Nationwide, Government Pays Q2 2024 Compensation
Jakarta, December 4, 2024 – PT Pertamina (Persero) has once again received compensation payments from the Government for Certain Fuel Types (JBT) Diesel and Special Assigned Fuel Types (JBKP) Pertalite distribution in the second quarter of 2024. The total payment amounted to IDR 38.03 trillion (including taxes) or IDR 34.26 trillion (excluding taxes). Pertamina appreciates the government for the compensation payment.
President Director of PT Pertamina (Persero), Simon Aloysius Mantiri, stated that as of the end of November 2024, Pertamina had received a total compensation fund of IDR 111.43 trillion (including taxes) from the government. The compensation covers the price differential between the formula price and the retail price at petrol stations for the JBT Diesel and JBKP Pertalite distribution during the fourth quarter of 2023, the first quarter of 2024, and the second quarter of 2024.
“This payment represents the government’s tangible support for Pertamina in fulfilling its role as an energy provider throughout the country. We highly appreciate and thank the government, particularly the Ministry of Finance, the Ministry of State-Owned Enterprises, and the Ministry of Energy and Mineral Resources, for their support by expediting the disbursement of fuel compensation funds up to Q2 2024,” Simon said in Jakarta on December 4, 2024.
Simon further emphasized that PT Pertamina (Persero) will continue to support the government's programs to achieve energy independence by prioritizing energy security, availability, and sustainability while providing energy through innovative solutions that deliver added value to society. “We are focusing our business through a dual growth strategy designed to strengthen Indonesia’s energy resilience while simultaneously developing low-carbon businesses to facilitate the energy transition,” he stated.
Pertamina continues optimizing subsidized fuel distribution and ensuring that subsidized fuel reaches its intended beneficiaries through the Pertamina Subsidi Tepat Sasaran program. On the other hand, Pertamina is also increasing the distribution of non-subsidized fuel by expanding non-subsidized fuel outlets. As a result of these efforts, by Q3 2024, Pertamina achieved a 13% year-on-year (yoy) increase in non-subsidized fuel sales, reaching a total of 31 million kiloliters.
Simon elaborated, “We have implemented several initiatives to support the targeted subsidy program, including QR codes via MyPertamina for purchasing subsidized Diesel and Pertalite for four-wheeled vehicles. Pertamina has also controlled the subsidized 3-kg LPG cylinders distribution through the Merchant Apps Pangkalan (MAP) Pertamina system. Additionally, we have strengthened digital infrastructure in over 8,000 petrol stations across Indonesia. This digitization process is expected to enable real-time monitoring of the targeted subsidy program's implementation and ensure access to subsidized fuel and LPG for eligible recipients.”
“This achievement reflects Pertamina’s commitment to optimizing the distribution of subsidized fuel and supporting the government’s efforts to alleviate the State Budget burden,” Simon concluded.
Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina’s business lines and operations.