Tuesday, December 10, 2019

Pertamina ranks above Alibaba, Facebook on Fortune 500 list

Jul 24. 2019
The logo of Pertamina EP. Pertamina was ranked 175th on the 2019 Fortune 500 list. (Courtesy of/pertamina-ep.com)
The logo of Pertamina EP. Pertamina was ranked 175th on the 2019 Fortune 500 list. (Courtesy of/pertamina-ep.com)
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By The Jakarta Post
Asia News Network

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State-owned oil and gas company Pertamina is the only Indonesian company on the latest Fortune 500 list of the world’s biggest corporations in terms of revenues.

 

Pertamina was ranked 175th, a leap of 78 slots from 253rd the previous year. The state-owned oil and gas company was ranked above the Alibaba Group at 182nd and Facebook at 184th.

State-Owned Enterprises Minister Rini Soemarno said the success of Pertamina of seven consecutive years on the Fortune 500 list was thanks to the company’s hard work in serving the people. "I congratulate Pertamina for its success in joining the Fortune Global Top 500 list again,” she was quoted as saying by kompas.com.

The yearly list is based on revenue in the past twelve months. In 2018, Pertamina booked revenue of $57.93 billion, a 34.9 percent increase year-on-year. The company’s net profits totaled $2.52 billion, while its assets stood at $64.7 billion.

In the mobile technology world, Apple is still the leader, sitting at 11th place overall, followed by Samsung in 15th, while Google’s parent conglomerate Alphabet is 37th.

In 2018, four state-owned companies, namely Bank Mandiri, Telkom Indonesia, Bank Negara Indonesia and Bank Rakyat Indonesia, as well as two private companies, Bank Central Asia and Gudang Garam, joined the global 2000 List of the World’s Best Employers in 2018 issued by Forbes magazine. 

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