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Indonesia refined petroleum market reported over half of production associated with state-owned company Pertamina (Persero) PT in 2012

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PR-Inside.com: 2014-04-01 09:15:01
Refined petroleum products market sees 15% CAGR over 2007-2012 to reach Rp626.9 trillion. Imports from Singapore and South Korea flood Indonesian market, with imports´ value share surging from 54% in 2007 to 67% in 2012.

Crushed by imports and dragged down by shrinking prices, industry records 7% CAGR, underpinned by expanding volume sales over 2007-2012. Government subsidies allow industry to enjoy extremely high profitability of 82% of turnover in 2012.

More than half of total production accounted for by leading state-owned company, Pertamina (Persero) PT in 2012. Government efforts to reduce country´s dependence on imports underpinned by economic growth and rising prices will contribute to 9% CAGR over 2013-2018.

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