Indonesia’s ITT changed name after Pertamina acquired 100% stake

In an official notice to its business partners, PT Indo Thai Trading (ITT) informed of legal entity name change to PT Pertamina Petrochemical Trading with effective 15 March 2021 after a consolidation of ownership.

PT Indo Thai Trading is one of the major players in the Indonesian petrochemical market, established in 2014 under a joint venture between Indonesia’s national oil and gas company - Pertamina (51%) and Thailand’s PTT Chemical Group (49%) that aim to distribute PP and PE cargoes for both partners. 

As the partnership between the two giants fell out in 2019, the ownership of PT Indo Thai Trading was transferred to PT Pertamina  Patra Niaga (51%) and PT Patra Trading (49%) – both are subsidiaries of Pertamina. 

PT Pertamina Petrochemical Trading is now 100% owned by Pertamina.

The consolidation in the ownership of PT Pertamina Petrochemical Trading signifies Pertamina’s commitment to establishing its foothold in the Indonesian market as the company lays out the ten years growth plan by investing in several greenfield petrochemical projects. 

In the meantime, PT Pertamina Petrochemical Trading continues to carry locally produced polypropylene (PP) cargoes from Pertamina and Polytama and several other sources including Vietnamese cargoes. Besides, the company is also distributing Thailand’s PTT Chemical Group PE cargoes in the Indonesian market.