Pertamina unit signs Hartree and Phillips 66 deals for 2026 crude and LPG supply

PT Pertamina Patra Niaga, the trading arm of state-owned oil and gas company PT Pertamina (Persero), has strengthened its global strategic initiatives by signing cooperation agreements with Hartree Partners LP and Phillips 66 in Washington, DC, on February 19, 2026.

The agreements comprise a Memorandum of Understanding (MoU) for crude oil supply with Hartree and a confirmation letter for an LPG supply contract with Phillips 66 for 2026.

President Director of Pertamina Patra Niaga, Mars Ega Legowo Putra, described the partnerships as a significant step toward strengthening national energy resilience while opening broader opportunities for collaboration in energy processing and trading.

According to him, the cooperation goes beyond commercial transactions, reflecting a shared vision to enhance investment, deepen global synergy, and promote sustainable energy solutions.

“By leveraging Pertamina’s national strengths alongside the global reach and commercial expertise of Hartree Partners and Phillips 66, we can build a resilient and forward-looking partnership,” he said in an official statement on Saturday (February 20, 2026).

He added that amid global energy market volatility, supply chain disruptions, and accelerating energy transition demands, trust among partners is fundamental to the success of cross-border cooperation.

Read also: Pertamina Patra Niaga urges controls as subsidised LPG use surges

Under the agreement with Hartree Partners, both parties established a commercial framework for the supply of light crude oil to meet Pertamina’s refinery requirements. The crude may originate from the United States or from Hartree’s global portfolio.

The supply is intended to support feedstock requirements at key refineries, particularly Refinery Unit Cilacap and Refinery Unit Balikpapan. Demand is expected to rise in line with the expansion of processing capacity under the Refinery Development Mega Project (RDMP) Balikpapan.

Meanwhile, the agreement with Phillips 66 confirms the implementation of an LPG supply contract throughout 2026, with a total volume of approximately 2.2 million metric tons. The arrangement continues an existing partnership aimed at maintaining the stability of Indonesia’s domestic LPG supply.

The move is considered crucial as LPG remains one of Indonesia’s primary household energy sources, making supply continuity essential for economic and social stability.

The collaboration with global energy companies reflects Pertamina Patra Niaga’s strategy to diversify its supply network and secure energy sources amid geopolitical uncertainty and commodity price volatility.

With support from its international partners, the company aims to create long-term value not only economically but also socially and environmentally, in line with the global energy transition.

Editing by Reiner Simanjuntak