Transforming State-Owned Enterprises: The Case of Pertamina |

Transforming State-Owned Enterprises: The Case of Pertamina

Synopsis:

Mr. Ari H. Soemarno, the former President and CEO PT PERTAMINA (Persero), Indonesia’s government-owned national oil company, will discuss the company transformation programme that he spearheaded. While Pertamina is one of Indonesia’s most profitable companies, it was far behind other major oil companies, both technically and financially, when Mr. Soemarno assumed the post. As a former government monopoly, it lacked competitiveness. Most of its employees tended to be bureaucratic and did not have the needed commercial/entrepreneurial behavior. Pertamina’s image was marred by the previous government regime that practiced corruption, collusion, and nepotism. The enactment of a new Oil and Gas Law in November 2001, which included the liberalisation of the downstream oil market as well as revoked Pertamina’s role as regulator and policy maker, was a “wake up call” that the company needed to be a “true” business entity, Soemarno says.

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Speaker(s):

Ari H. Soemarno, Former President and CEO of PT PERTAMINA (Persero)

Date:
Monday, 27 April 2009
Time:
12.15 p.m. - 1.30 p.m.
Venue:

Seminar Room 2-3
Level 2, Manasseh Meyer
Lee Kuan Yew School of Public Policy
469C Bukit Timah Road
Singapore 259772

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