Pertamina triples profit
Indonesia tanker
Pertamina’s income surged from USD 914 million to USD 2.83 billion, thanks in part to efficiency gains that resulted in a USD 834-million reduction in operational costs. “These achievements are made possible because Pertamina managed to improve operational performance and cut costs up to 27 percent in the first nine months of this year,” President Director Dwi Soetjipto said in a statement.
Hydrocarbons production over the first nine months of 2016 averaged 646,000 boepd, up 12.3 year-on-year. Oil output came out at 309,000 bopd, while gas production was recorded at 55.3 mcm (1.95 bcf) per day.
Recent Posts
Seatrium wins MODEC contract for Guyana-bound FPSO
Singapore’s Seatrium has secured a topside integration project for the FPSO Errea Wittu from Offshore Frontier Solutions, a MODEC Group… Read More
UK allows oil exploration in North Sea wind project zones
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil closes acquisition of Pioneer, creating Permian powerhouse
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy enters Namibia’s Orange Basin
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Chariot starts gas drilling campaign in Morocco
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone acquires Trinidad E&P player Trinity
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More