EL7.AI
StocksMedium•12 November 2026•
4 min read

Pertamina Profit Jumps 62% to $1.9 Billion in First Half of 2026

Key Facts

1Pertamina’s net profit was $1.9 billion in the first half of 2026, up 62% from $1.2 billion in the same period of 2025.
2CNBC Indonesia valued the profit at 34.2 trillion rupiah, based on an exchange rate of 18,000 rupiah per dollar.
3Energy product sales exceeded 80 million kiloliters in the first half of 2026.
4The company’s contributions to the state exceeded 208 trillion rupiah through the end of June 2026.

Indonesia’s Pertamina reported net profit of $1.9 billion in the first half of 2026, up 62% year over year from $1.2 billion in the same period of 2025, detikFinance reported on Nov. 12. CNBC Indonesia said the company valued the profit at 34.2 trillion rupiah, using an exchange rate of 18,000 rupiah per dollar. The result placed the company’s financial performance at the forefront of its report on the first six months, as it said global disruptions had affected its financial position and supplies of crude oil and fuel. The deputy president director said, "Global disruptions affect financial conditions as well as supplies of raw materials and fuel." The report combines profit growth with expanding domestic demand for energy products, alongside supply pressures that prompted the company to announce measures to strengthen refining and distribution.

Pertamina’s energy product sales exceeded 80 million kiloliters in the first half, CNBC Indonesia reported. The company said consumption of "Biosolar" biodiesel rose by more than 14%, while demand for "Pertalite" gasoline increased 13%, detikFinance reported. These increases come as Pertamina meets demand for fuels widely used in the domestic market. The company also said it supplied fuel to 588 locations under the government’s one-price program, according to CNBC Indonesia. The figures reflect the scale of the domestic supply network the company is working to support alongside its commercial sales.

In the upstream sector, Pertamina Hulu Energi, a subsidiary of Pertamina, produced 935,000 barrels of oil equivalent per day through the end of the first half, CNBC Indonesia reported. Separately, Pertamina Hulu Indonesia said its oil production reached 59.3 thousand barrels per day and gas production 621 million standard cubic feet per day in the same period. The company said oil production amounted to 116.1% of its 2026 target, while gas production reached 105.4% of its target. The company presented its results at an internal meeting held on July 30, 2026, attended by about 2,000 employees. Its president director said workers were urged to continue maintaining oil and gas production in the second half of 2026 to support national energy security.

Pertamina said its contributions to the Indonesian state from taxes, non-tax revenues and dividends exceeded 208 trillion rupiah through the end of June 2026, CNBC Indonesia reported. The amount was part of the company’s presentation of its financial and operational results for the first half, alongside sales and production figures. On supply security, Pertamina said geopolitical disruptions, particularly in the Middle East, had affected crude oil and fuel supplies. It added that global oil prices at one point exceeded $100 per barrel because of geopolitical conflict. The company also said security risks in distribution had affected supplies from the Middle East, which it said accounts for about 20% of global supplies, and that some partner countries had banned fuel sales on international markets.

In response to supply pressures, Pertamina said it plans to increase refinery production capacity for gasoline by 9% and add 15% to refinery supplies of "Biosolar," detikFinance reported. It also said it had added more than 369 tanker trucks and at least 27 vessels to strengthen fuel and liquefied petroleum gas distribution. The measures aim to increase refining and transport resilience as fuel demand continues to grow in the domestic market. As part of its program to expand future supplies, Pertamina Hulu Energi aims to add 18,000 barrels of oil per day and 280 million standard cubic feet of gas per day in 2027 through about 20 projects. The company said priorities for its domestic projects include developing infill drilling wells in the Sumatra Light Oil area within the Rokan concession.

Separately from the earnings report, S&P Global reported in August that oil production in the Rokan concession averaged about 133,000 barrels per day in a report covering the first seven months of 2026, compared with about 151,000 barrels per day in 2025 and below the 2026 target of 163,000 barrels per day. The coverage attributed the decline to a gas pipeline leak and problems with electricity supplies. The development presents a specific production challenge at Rokan within the broader upstream picture, but appeared in coverage separate from the earnings announcement. In the available report on first-half results, the company did not attribute these disruptions to profit growth or the period’s result. The targeted production increase in 2027, through about 20 projects, remains the stated path to strengthening future supplies.