Pertamina 2007 net profit seen up 21.1 percent

Jakarta (ANTARA News) - Indonesia's state-owned oil and gas company PT
Pertamina is likely to have recorded a 21.1 percent rise in net profit
in 2007, helped by higher oil prices, company president Ari Sumarno
said Friday.

Pertamina is expecting to post net profit of 23 trillion rupiah last
year compared to 19 trillion in the previous year, said Sumarno.

Pertamina plans to earmark 21 trillion rupiah for capital expenditure
this year, he was quoted by Thomson Financial as saying. Of this, 13
trillion rupiah will be allocated for upstream oil and gas development
and the remainder for downstream activities.

The company plans to issue global bonds to finance a portion of the capex spending, he said. (*) END

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