May 31, 2019 / 5:29 AM / 6 months ago

Indonesia's Pertamina 2018 net profit nearly steady

JAKARTA, May 31 (Reuters) -

* Indonesia state energy firm PT Pertamina said its 2018 net profit came in at $2.53 billion, chief finance officer Pahala Mansury told reporters on Friday

* The result was just below the $2.54 billion reported in 2017, while costs grew by 29% annually in 2018

* Mansury said Pertamina’s 2018 financial performance was supported by a “significant” oil price improvement in the second half of the year, compensation for a lower fuel price set by the government and a 30% increase in gas output after it took over operation of the Mahakam block

* Pertamina’s revenue rose to $57.9 billion last year, from $46 billion a year earlier ($1 = 14,375 rupiah) (Reporting by Wilda Asmarini; editing by Richard Pullin)

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