Being kicked out of the Fortune 500 List, said Pertamina

JAKARTA, KOMPAS.com – Fortune again released a list of the 500 companies with the largest income in the world or Fortune Global 500 in 2020. However, unfortunately PT Pertamina (Persero) must be expelled from the list, after in 2019 it occupies the 175th position.

Responding to this, Pertamina’s VP Corporate Communication, Fajriyah Usman, said that his party will continue to strive to improve company performance so that it can be aligned with world companies listed in the Fortune Global 500 list.

He explained that this belief refers to Pertamina’s performance in 2019. Oil BUMN revenue at that time reached 54.58 miliar dollar AS and profit 2.5 billion dollars AS.

“This year Pertamina is not listed in the Fortune Global 500 ranking, but with a total revenue of US $ 54.58 billion, Pertamina’s performance equals the world company that occupies the 198th position, namely Nippon Steel Corporation with revenues of US $ 54.45 billion,” said Fajriyah. , in a written statement, quoted on Friday (14/8/2020).

Also read: Pertamina Aims for Fortune Global Top 100 Position in 2026

Furthermore, Fajriyah explained, under the 198 ranking, there are several other well-known global companies, such as Goldman Sachs Group, Morgan Stanley, Caterpillar, and LG Electronic which are in positions 202 – 207 with revenues of around 53 billion US dollars.

Meanwhile, other world energy companies, such as Repsol and ConocoPhilips, were even ranked 245th and 348th.

Fajriyah said he was optimistic that in the coming year Pertamina could again be listed in the Fortune Global 500 list with a higher position.

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The restructuring of Pertamina which was carried out some time ago is said to be one of the steps that can achieve this target.

“With the support of all parties, Pertamina hopes that the aspiration to become a global energy champion can be achieved and be able to place this BUMN in the Fortune 100 Global position,” said Fajriyah.

Also read: Aiming for Fortune 500 List, Telkom Targets Income of IDR 1,000 Trillion

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