Observer: Pertamina's Fortune Southeast 500 entry showcases Indonesia's potential
Energy analyst Feiral Rizky Batubara assessed that the success of PT Pertamina (Persero) in entering the Fortune Southeast 500 reflects the significant potential Indonesia possesses in the energy sector, and this should be used as capital to strengthen investor confidence.
“With its increasingly recognised position at the global level, Pertamina must continue to maintain its positive performance while acting as a locomotive in realising strong, sustainable energy security and supporting Indonesia’s future economic growth,” Feiral said in a statement received in Tuban, East Java, on Wednesday.
He further conveyed that this achievement demonstrates Pertamina is not only capable of competing globally but is also increasingly required to strengthen its role as the backbone of energy supply for the Indonesian people.
The position of Pertamina as a state-owned energy company carries a different role compared to other global oil and gas corporations. On one hand, Pertamina is required to generate profits and maintain business health. On the other hand, it bears a strategic mandate to ensure energy supply remains available, affordable, and evenly distributed for all Indonesian people.
Feiral assessed that energy sector challenges will become increasingly complex in the future, driven by rising domestic energy demand, global geopolitical dynamics, and the acceleration of the transition towards cleaner energy. Under these conditions, he believes Pertamina needs to continuously strengthen its operational capacity and investment to maintain a balance between business sustainability and national energy security.
He explained that the growing scale of the business must be accompanied by increased efficiency, strengthened governance, and the courage to transform across various business lines. “Status as a company ranked in the Fortune Global 500 should be considered a starting position. Therefore, Pertamina must continue to be driven to innovate, transform, improve service quality, strengthen national energy security, and support Indonesia’s economic development targets,” he added.