Jakarta (ANTARA News) - State oil company PT Pertamina has set its net profit-making target for this year at Rp25.011 trillion, the company`s finance director, Ferederick Siahaan, said here on Thursday.

Speaking at a meeting with the House of Representatives` Commission VII, Siahaan said the net profit figure was calculated assuming the Indonesian Crude Price (ICP) was US65 per barrel and the rupiah`s exchange rate Rp10,000 per US dollar.

"The net profit target for this year is Rp25.011 trillion or up by about Rp10 trillion compared with only Rp15.07 trillion last year," Siahaan said.

He said the profit figure was in accordance with the company`s work and budget plan (RKAP) for 2010 and had been approved by the government.

Siahaan said Pertamina`s income this year was projected to reach Rp386.817 trillion and its business expenditures Rp350.586 trillion so that its business profit would be Rp36.241 trillion.

But in the company`s 2009 prognosis, business income reached Rp356,378 trillion and business profit Rp26.119 trillion.

Siahaan added that in 2009, subsidized fuel oil distribution caused a loss of Rp6.496 trillion because the figure set for distribution cost proved to be lower than the amount actually spent.

He said business income from subsidized fuel oil distribution activity in 2009 reached Rp184.139 trillion and business cost Rp190.635 trillion.(*)