The Jakarta Post
State-owned oil and gas company PT Pertamina has maintained its position among the world's biggest companies, according to the 2014 Fortune Global 500, which also welcomed state electricity firm PT Perusahaan Listrik Negara (PLN) to the list for the first time.
PLN considered it 'not easy' for the firm to compete with other companies worldwide, but said that the inclusion in the 500 major global companies reflected recognition for its achievements.
'This is an award for all PLN employees and customers, especially SMEs [small and medium enterprises] and big companies,' PLN president director Nur Pamudji said in a statement distributed to reporters on Wednesday.
The main criteria for the Fortune Global 500 list was based on total revenues on or before March 31 this year, which were then compared to the same period last year.
Meanwhile, Pertamina is currently improving its performance amid tighter challenges as reflected by its revenue and net profit in 2013, which were higher than the previous year.
'The steadiness of Pertamina's [position] on the Global Fortune 500 list is a high reward from the international world for Pertamina's performance, which has been improving over time amid current high-level global competition,' Pertamina corporate communications vice president, Ali Mundakir, said on Tuesday as reported by tribunnews.com.