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Indonesia's state-owned oil and gas company, Pertamina, on Fortune Global 500 List. (Fortune)
Pertamina Ranks Above World Class Company Alibaba, Facebook on Fortune Global 500 List
Good news for Indonesia! Its state-owned oil and gas company Pertamina ranking on the latest Fortune Global 500 list just rocketed to 175th from 253rd in the previous year.It is the company’s seven consecutive years on the Fortune 500 Global list and is the only Indonesian company featured on the list. Pertamina VP of Corporate Communication Fajriyah Usman said in his official statement that the rank itself depicts the company’s capability to compete with other world-class corporate--a pride that belongs to Pertamina and Indonesia.
With a big leap, Pertamina was also ranked above the Alibaba Group at 182nd and Facebook at 184th this year.
The yearly list is based on the company’s revenue including consolidated gross revenue in the past 12 years. While other indicators include the inclusion of shareholder capital, market capitalization, profits, and a number of employees.
In 2018, Pertamina booked revenue of US$57.93 billion, a 34.9% increase from 2017. For the net profits, the company has a total of US$2.52 billion with assets stood at US$64.7 billion and 31,569 employees spread throughout the globe.
Pertamina’s growth is also inseparable from its consistency in continuing the increase of the national energy’s availability, accessibility, affordability, acceptability, and sustainability, Usman added.
State-Owned Enterprises Minister Rini Soemarno congratulated the success, thanking the company’s hard work in serving the people.
Source: https://www.thejakartapost.com/news/2019/07/23/pertamina-ranks-above-alibaba-facebook-on-fortune-500-list.html
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