Perusahaan Gas Negara’s Revenue USD1.4bn in the Weakening Economy
Perusahaan Gas Negara, Tbk (PGAS IJ), recorded the revenue USD1.4bn during the weakening economy in the 1H2017. The largest contribution came from the natural gas, followed by oil and gas sales. Despite the weakening economy, the company will build the natural gas infrastructure to expand the natural gas distribution to public. Natural gas distribution’s revenue contributed USD1.16bn, followed the oil and gas sales worth USD211mn. On the same time, Perusahaan Gas Negara’s operating profit USD176mn, the net profit USD50mn, and EBITDA USD423mn. Despite the weakening Indonesia’s economic, the Company will build the natural gas infrastructure to expand the natural gas distribution to public, as a dominant player in the gas distribution segment with an 80% market share.
