Kuta, Bali (ANTARA News) - State oil and gas firm Pertamina expects the government regulation serving as a legal basis to turn it into a publicly-listed company will be completed in December.<\/p>\n
The change in Pertamina`s status into a publicly-listed company was aimed at making it more transparent so that it would become a reliable and world-class oil company, Pertamina Corporate Secretary Sudirman Said said at a media gathering here on Saturday night.<\/p>\n
The government as a shareholder was studying three options to turn Pertamina into a publicly-listed company, he said.<\/p>\n
The three options were initial public offering (IPO), limited sales and non-listed company, he said.<\/p>\n
"It is likely that Pertamina will become a non-listed company because fluctuations in the capital market will have no impact on it," he said.<\/p>\n
Both the Office of the State Enterprises Minister and the Finance Ministry were preparing the regulation serving as a legal basis for the change in the company`s status, he said.<\/p>\n
Since February this year the management of Pertamina had also made a number of preparations to turn it into a publicly-listed company, he said.<\/p>\n
The preparations included an audit of the company`s finance by an independent auditor, he said.<\/p>\n
Pertamina which produces 156,000 barrels of crude oil and 1,424 million cubic feet of gas per day booked a profit of Rp24 trillion last year.
\n(*)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/regulation-about-pertaminas-status-to-be-completed-december-1220233883",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}