Pertamina Group Issuers Deemed Resilient to Capital Market Pressures in Q1 2026

JAKARTA - Issuers within the Pertamina Group are assessed to have continued showing business resilience amid pressures on the Indonesian capital market throughout the first quarter of 2026. These pressures were triggered by a combination of global and domestic turbulence, including geopolitical uncertainties that drove a repricing of Indonesia’s risk and affected investor sentiment in the stock market. Vice President of Corporate Communication at Pertamina, Muhammad Baron, emphasised that this situation does not reflect a decline in the company’s performance. Several Pertamina Group issuers, such as PT Perusahaan Gas Negara Tbk (PGAS), PT Elnusa Tbk (ELSA), PT Pertamina Geothermal Energy Tbk (PGEO), and PT Tugu Insurance Tbk (TUGU), have recorded relative resilience against IHSG movements. Baron explained that this performance is supported by consistent operational fundamentals, the defensive character of the energy sector, and long-term prospects still backed by national energy needs. According to Baron, the company continues to strengthen strategic communications with investors to affirm the long-term value possessed by Pertamina Group issuers. Pertamina also views the current market conditions as an opportunity to expand its investor base and improve the quality of interactions with analysts and capital market players. Furthermore, in facing global geopolitical dynamics, Pertamina is implementing a dual growth strategy, namely maintaining the stability of its core business while accelerating the development of low-carbon energy. This step aligns with the company’s commitment to supporting the net zero emission target by 2060 and the application of Environmental, Social, and Governance (ESG) principles across all business lines.