Pertamina and Petronas Both Had Good Years in 2023, But For Different Reasons

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Pertamina and Petronas Both Had Good Years in 2023, But For Different Reasons - The Diplomat

Quick Summary:

The contrast between the two state-owned oil firms reveals interesting differences in the political economies of Malaysia and Indonesia.

This has resulted in a narrower focus on domestic energy needs and required substantial government assistance to keep fuel prices stable and affordable.

In the 1970s and 1980s, Pertamina functioned a lot more like Petronas does now, generating big revenue streams for the government by exporting Indonesia’s surplus oil.