PGAS — 1H24’ net profit grew 28.4% yoy

PGAS — 1H24’ net profit grew 28.4% yoy Perusahaan Gas Negara (PGAS) recorded a 28.4% yoy increase in net profit to USD186.60 mn in 1H24. This growth was fueled by a 2.8% yoy rise in revenue, reaching USD1.83 bn. A significant contributor to this performance was the new LNG trading segment, which generated USD93.71 mn. Additionally, PGAS saw increased earnings from gas transmission and oil transmission, which rose by USD14.4 mn and USD0.9 mn, respectively. PGAS also optimized domestic gas utilization, including the distribution of one LNG cargo from Tangguh, amounting to approximately 3,000 BBTU. (Source : Kontan)