Pertamina Vows Cooperation as Executives Named in $11.9B Corruption Scandal
Jakarta. State-owned oil and gas company Pertamina has pledged full cooperation with authorities following the Attorney General’s Office (AGO) decision to name seven suspects in a corruption case involving its subsidiaries and contractors. The scandal, which allegedly took place between 2018 and 2023, is estimated to have cost the state Rp 193.7 trillion ($11.9 billion).
"Pertamina respects the Attorney General’s Office in carrying out its duties and authority in this ongoing legal process," Pertamina’s Vice President of Corporate Communication Fadjar Djoko Santoso said in a statement on Tuesday.
He added that Pertamina Group remains committed to operating with transparency and accountability, in line with Good Corporate Governance (GCG) principles and applicable regulations.
Among the suspects are Riva Siahaan, president director of Pertamina Patra Niaga, and Yoki Firnandi, CEO of Pertamina International Shipping. The AGO alleges that under Riva’s leadership, Pertamina Patra Niaga illegally blended subsidized Pertalite gasoline with the higher-priced, non-subsidized Pertamax and sold it at a premium.
The investigation also uncovered procurement irregularities, with Pertamina International Shipping allegedly inflating crude oil transportation fees, and private companies receiving contracts without a competitive bidding process.
The AGO has conducted four raids on the residences of the suspects, seizing documents, electronic devices, and foreign currency. Authorities seized S$20,000, US$20,000, and Rp 400 million in cash.
On Tuesday, investigators raided two properties linked to oil trader Mohammad Riza Chalid in South Jakarta. The AGO indicated that more searches and legal actions would follow as the investigation progresses.
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