AT A GLANCE

The Perta Group was founded in 1969 as a joint venture between PERTAMINA and a U.S. interest group. The Perta Group was initially organized to market PERTAMINA's crude oil and oil products in the U.S. The Perta Group commenced trading operations in 1972. The corporate structure consisted of Perta Oil Marketing Corporation Limited, a Bahaman corporation having its office in Hong Kong, and Perta Oil Marketing Corporation, a California company, which handled the day-to-day activities in the U.S.A. As a result of a major reorganization in 1978, the Bahaman based company was replaced with Perta Oil Marketing Limited, a Hong Kong based company. In September 1998, PERTAMINA acquired the whole share of Perta Group and became the sole owner of the company accordingly.

Pursuant to the approval of the shareholders in March 2001, the company officially changed its name to Pertamina Energy Trading Limited (PETRAL). PETRAL is established to become PERTAMINA's trading and marketing arm in the international market. This measure was taken as PERTAMINA's corporate policy in enhancing its trading and marketing function.

With the prime objective to maximize shareholders' value, PETRAL's primary business is to develop and maintain markets for Indonesian crude oil and oil products to be supplied to PERTAMINA. PETRAL trades Indonesian as well as foreign crude oil and oil products. PETRAL's markets are mostly in Asia Pacific region as well as the United States, Europe, Middle East, Africa and other regions.

As the trading arm of PERTAMINA, PETRAL continuously focuses its business activities to support PERTAMINA to meet its duties to supply and fulfil the demand for oil and gas in Indonesia. Furthermore, PETRAL has also started to conduct business with third parties.

PETRAL's presence in Singapore, Hong Kong and Jakarta is highly beneficial to support its business coverage. The company's access to the international oil business players is therefore guaranteed that a wider information on market situation can be easily obtained. PETRAL realizes that wide networking, undoubtedly, is one of the key factors of success in the international business. Good networking can determine the competitive level of prices, increase the trading volume, and improve the company's leverage. Most importantly, wide networking will bring a high level of trust among the business communities, since trust is a significant aspect in trading business. In this respect, PETRAL has been successful in maintaining excellent business relationship with all major and reputable international energy trading firms as well as financial institutions.

INCORPORATION

Pertamina Energy Trading Ltd. (formerly: Perta Oil Marketing Limited) was incorporated in Hong Kong on March 5, 1976.

CAPITAL

US$9,000,000

SHAREHOLDER

PT Pertamina (Persero), a company with limited liability in Indonesia.

DIRECTORS

Chairman & Non-Executive Director: Mr Edi Setianto
Non-Executive Director : Mr Poerwo Tjahjono
Managing Director & President : Mr Nawazir

AUDITORS

Ernst & Young, Hong Kong and Singapore

BANKERS

BNP Paribas, Singapore
Credit Agricole, Singapore
Natixis, Singapore
Standard Chartered Bank, Singapore
Sumitomo Mitsui Banking Corporation, Singapore

SUBSIDIARIES

Pertamina Energy Services Pte Limited (formerly: Perta Oil Services Pte Ltd.) (PES) was incorporated in Singapore in 1992. PES is one of the wholly owned subsidiaries of PETRAL and has been awarded the Global Trader Programme status in Singapore. PES is responsible for trading of crude oil, oil products and petro-chemicals.

Zambesi Investments Limited (ZIL) was incorporated in Hong Kong in 1979. ZIL is one of the wholly owned subsidiaries of PETRAL. ZIL takes care of the investment business and develops non-oil business for PETRAL Group.

TRADING VOLUME

Over the past years, PETRAL's physical trading volume had ranged from 155 to 701 thousand barrels per day. Listed below is a summary of the yearly trading volume: