VIVAnews - 51 years ago today, on 10 December 1957, Permina, Indonesia’s first national oil company, was founded.
Permina (Perusahaan Minyak Negara) was established in 1957 after the Indonesian government decided to nationalize its petroleum assets. The policy was taken after Soekarno appointed Gen. A.H. Nasution, then Army Chief of Staff, to lead the rehabilitation of Indonesia’s oil mines in North Sumatra. His task was to improve Indonesia’s oil export, thus providing funding for the country’s development.
A couple of months later, the government decided to nationalize the entire petroleum business of the Netherlands in Indonesia. Lieutenant General Ibnu Sutowo, then second deputy of Army Chief of Staff, was appointed as first director of Permina. His task was to distribute oil for the entire country.
In 1968, to consolidate its oil and gas industry, the government merged Permina and Pertamin and created a new national oil and gas company called Pertamina.
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