Search Results for: PTT Plc
- Business News
Thailand’s PTT Plc sees future in hydrogen fuel for vehicles
PTT Plc, Thailand’s national oil and gas conglomerate, is forecasting a future where hydrogen could potentially replace oil-powered vehicles, contributing to the reduction of air pollutants. This year, the company’s subsidiary Arun Plus, in collaboration with Taiwan’s Hon Hai Precision Industry Co., is planning to domestically produce electric vehicles (EVs). Additionally, PTT is partnering with various companies to advance the…
- Business News
PTT plc eyes green methanol production
PTT Plc, a major national oil and gas conglomerate, is contemplating the construction of a green methanol production facility. The project, costing an estimated 3.1 billion baht, aligns with PTT’s initiative to curtail carbon dioxide emissions and manufacture methanol-derived fuels. Traditionally, methanol production relies heavily on fossil fuels. However, PTT’s proposed method utilises biomass or carbon capture techniques, paving the…
- Thailand News
PTT Plc to turn Laem Chabang into Thailand’s first green port
PTT Plc, the Thai state-owned oil and gas company, is set to transform Laem Chabang deep-sea port into a pioneering example of green ports across Thailand. Noppadon Pinsupa, the Chief Operating Officer of PTT’s Downstream Petroleum Business Group, revealed plans yesterday for the development of the GPC International Terminal. The terminal, the victor in the bid for the third phase…
- Business News
PTT Plc amplifies renewable energy drive with hydrogen fuel advancement
National energy titan PTT Plc is bolstering initiatives to harness additional renewable power sources and progress its hydrogen fuel enterprise, as part of a strategy for sustainable company growth. Cherdchai Boonchoochauy, Senior Executive Vice President for Innovation and New Ventures, specified that PTT’s existing blueprint is to create 12 gigawatts of renewable electricity and restrict power generated from non-renewable fuels…
- Business News
PTT assures adequate LNG reserves to beat heat in Thailand
With summer temperatures expected to soar, PTT Plc, Thailand’s national oil and gas conglomerate, has assured that its liquefied natural gas (LNG) reserves are up to the task of meeting the country’s increased electricity demand. In Thailand, 60% of the fuel used for electricity generation is gas. As a result, PTT is prepared, with gas reserves of 6 billion cubic…
- Business News
Isuzu revs up green initiative with PTT union for clean fuel trials
Tri Petch Isuzu, Thailand’s Isuzu vehicle distributor, is joining forces with PTT Plc to test vehicles powered by a novel clean fuel. This initiative is aimed at supporting efforts to reduce the high carbon dioxide emissions from Thailand’s transport sector. The transport and power generation sectors are the main contributors to over 60% of Thailand’s greenhouse gas emissions, as per…
- Business News
PTTGC expands recycling operations focusing on opaque plastic containers
Thailand’s foremost petrochemical producer by capacity, PTT Global Chemical Plc (PTTGC), is broadening its recycling operations with a focus on opaque plastic containers, primarily bottles. This endeavour is part of the company’s newly introduced campaign aimed at fostering eco-friendly habits among the youth. The campaign constitutes the company’s second environmental initiative following its venture into recycling waste polyethene terephthalate (PET)…
- Business News
PTTEP boosts gas production at Erawan to avoid hefty fine
PTT Exploration and Production Plc (PTTEP) is stepping up gas production at the Erawan gas block in the Gulf of Thailand to avoid a hefty fine. The penalty would be due to a failure to supply the volume of gas stipulated in a contract signed with PTT Plc, Thailand’s sole gas dealer. The chief executive of PTTEP, Montri Rawanchaikul, expressed…
- Business News
PTTEP forecasts 9% rise in petroleum sales due to expanded gas production
PTT Exploration and Production Plc (PTTEP) anticipates a 9% surge in petroleum sales in the coming year, largely due to the expanded gas production from the Erawan field in the Gulf of Thailand. The company’s President and CEO, Montri Rawanchaikul, revealed that the average sales for this year are anticipated to be around 464,000 barrels each day. This increase in…
- Business News
PTT’s OR diversifies with budget hotels and community malls at petrol stations
PTT Oil and Retail Business Plc (OR) is renewing its focus on diversifying its non-oil business ventures, with plans to construct budget hotels within its petrol stations and incorporate community malls catering to tourists. The company’s President and Chief Executive, Disathat Panyarachun, shared these developments. The next quarter will see OR onboarding a business consultant to oversee the hotel project.…
- Thailand News
PTT reinvestment: Diversifying beyond oil and petrochemicals for future growth
National energy conglomerate PTT Plc has initiated a reinvestment phase, eyeing new ventures for future growth. This move follows the stagnation of the company’s traditional businesses, which are primarily centred around the oil refinery and petrochemical sectors. As these avenues have limited potential for enhancing future income, the company emphasises the need for reinvestment. PTT’s President and Chief Executive Officer,…
- Business News
PTTEP issues alert over potential Thai gas production and supply disruption
PTT Exploration and Production Plc (PTTEP) voiced its concern to the energy authorities regarding potential barriers that may impede the continued production of gas in the Gulf of Thailand. The current license to operate in the Pailin gas block is set to end in 2028. The reoccurrence of a disruptive incident similar to the one at the Erawan gas block…
- Business News
Boeing acquires Spirit AeroSystems in US$4.7bn all-stock deal
Boeing announced the acquisition of its troubled supplier, Spirit AeroSystems, in an all-stock deal valued at US$4.7 billion, following extensive negotiations. This move comes as Boeing seeks to address significant safety and regulatory challenges affecting both companies. The total value of the transaction, including Spirit’s last reported net debt, is approximately US$8.3 billion. According to Boeing, each share of Spirit…
- Thailand News
Biodiesel betrayal: Big fuel companies snub palm oil producers
The Thai Biodiesel Producers Association plans to lodge a formal complaint against major fuel traders under Section 7 of the Fuel Trade Act. The traders have refused to purchase B100 biodiesel from local palm oil producers. Section 7 traders, including industry giants like PTT Plc and Bangchak Corporation, are those handling over 100,000 tonnes of fuel annually. These powerhouses stand…
- Thailand News
Thailand’s GPSC secures 1,050MW solar project in India
The power generation division of Thailand’s PTT Plc, Global Power Synergy Plc (GPSC), is making significant strides in expanding its renewable energy footprint in India. Its subsidiary, Avaada Energy, has secured a contract to construct a massive 1,050-megawatt solar farm aimed at boosting clean energy production, reducing carbon emissions, and serving millions in India. Avaada Energy emerged victorious in a…
- Business News
Finance Ministry to reassess stock holdings worth 1.19 trillion baht
The Finance Ministry plans to reassess its shareholdings in various stocks to optimise its asset portfolio and generate additional revenue for the state. Deputy Finance Minister Paopoom Rojanasakul instructed the State Enterprise Policy Office to evaluate the ministry’s stock holdings. According to sources, this review aims to identify which assets the government should retain and which could be sold. A…
- Thailand News
Thailand plans Formula One circuit near U-Tapao airport by 2028
Prime Minister Srettha Thavisin announced plans to construct a Formula One racing circuit near U-Tapao Airport in Rayong province within the next three to four years. The prime minister shared this vision after meeting with Formula One Group executives in Milan yesterday. The 62 year old prime minister emphasised the importance of international sporting events for boosting tourism, expressing the…
- Thailand News
Prime minister’s wife enrolls in prestigious politics course
The corridors of power just got a fresh infusion of intrigue as the wife of Prime Minister Srettha Thavisin joined the ranks of students at a top-notch political institution. Dr Pakpilai Thavisin, a prominent figure in the medical world at Bumrungrad International Hospital, secured her spot amongst the prestigious cohort at the College of Politics and Governance, King Prajadhipok’s Institute…
- Business News
Israel-Iran conflict threatens Thai economy in Q2
The ongoing conflict between Israel and Iran poses a potential threat to the Thai economy in the second quarter. Anticipated challenges include currency depreciation, an increase in oil prices, and a decrease in purchasing power. This comes after the International Monetary Fund reduced its Thai GDP forecast significantly from 4.4% to 2.7% growth, due to a slump in domestic consumption.…
- Business News
Plant-based meat popularity fuels new ventures in Thailand
The appeal of plant-based meat production continues to rise as companies recognise the lucrative potential of this burgeoning sector. The opportunity to tap into a new revenue stream and cater to health-conscious consumers has led to collaborations between local entrepreneurs, scientists, and international firms, said Buranin Rattanasombat, the senior executive vice-president for new business and infrastructure at PTT Plc. “In…
- Thailand News
TCC proposes temporary power tariff reduction for Thai households
The Consumers Council (TCC) has proposed a temporary reduction in power tariffs to alleviate the financial strain on Thai households during the summer’s peak demand. This request follows the Energy Regulatory Commission’s (ERC) suggested alterations to the current power rate, which critics argue would not result in cheaper electricity bills. Critics contend that the ERC’s adjustments primarily aim to lessen…
- Business News
Chinese EV investments in Thailand linked to zero dollar tours
Chinese Electric Vehicle (EV) makers’ investments in Thailand have sparked comparison with a notorious scam, the zero dollar tours, among some industry insiders. The scam, which came into the limelight in 2016, involved Chinese tourists being enticed with inexpensive tour packages in Thailand, only to be compelled to purchase overpriced souvenirs and services. The parallel is being drawn because Chinese…
- Business News
Thailand’s EGAT targets biomass, hydrogen to cut CO2 emissions
The Electricity Generating Authority of Thailand (EGAT) is endeavouring to combat climate change by adopting alternative fuels to replace coal in its power plants. Partnering with the Forest Industry Organisation, a study is underway to identify fast-growing plants suitable for conversion into biomass fuel. This initiative falls within EGAT’s strategy for long-term CO2 reduction, as confirmed by Chaiwut Lakmuang, the…
- Thailand News
Thai energy regulatory commission sets firm power tariff cap
The Thai Energy Regulatory Commission (ERC) established a firm power tariff cap of 4.18 baht (US$ 0.12) per unit from January to April this year. This move comes despite the ongoing increase in gas prices. The rate for consumers using minimal power is fixed at 3.99 baht, as stated by the government. Rudklao Intawong Suwankiri, the Deputy Government Spokesperson, revealed…
- Thailand News
Thai government delays decision on electricity price reduction
Prime Minister Srettha Thavisin revealed that the Cabinet has not yet agreed to reduce electricity charges. Pointing out that Deputy Prime Minister and Energy Minister Pirapan Salirathavibhaga is not ready to present the numbers to reduce electricity charges by no more than 4.20 baht (US$0.12). He requested more time at 10.10am today, at the Government House. Before the Cabinet meeting,…
- Aviation News
Thai authorities craft national oil proposal to boost sustainable aviation fuel
In a bid to bolster the aviation industry’s effort to curtail carbon dioxide emissions, Thai energy authorities are in the process of crafting a novel national oil proposal. The blueprint will cater to the evolution of Sustainable Aviation Fuel (SAF), a biofuel variant for aircraft. The appeal of SAF lies in its strong resemblance to jet fuel in terms of…
- Thailand News
Thailand and China unveil game-changing cargo link
Thailand and China have launched a direct cargo rail link, whisking farm-fresh delights straight from Nong Khai to the bustling metropolis of Chongqing via Laos. Agriculture and Cooperatives Minister Thamanat Prompow, a key player in this historic venture, flagged off the inaugural Thai train loaded with the jewel of Thai agriculture – dried longan. This marks the commencement of the…
- Thailand News
Pita Limjaroenrat crowned ‘Politician of the Year’ in Isaan poll
Pita Limjaroenrat, the former helm of the Move Forward Party (MFP), has clinched the coveted title of Politician of the Year in a high-octane survey conducted by Isaan Poll. The political battleground witnessed Pita soaring ahead with a formidable 34% of support from the 2,156 respondents aged 18 years or more across the 20 provinces of the Northeast. Associcate Professor…
- Transport News
Thai EV solutions provider teams up with Chinese manufacturer for electric taxis
In an innovative move to capitalise on the upswing in electric vehicles (EVs) in Thailand, EVme Plus Co, a leading EV solutions provider, is partnering with a Chinese EV manufacturer. This collaboration is aimed at promoting the usage of battery-powered cars among taxi drivers. EVme Plus Co is a part of the oil and gas colossus PTT Plc. The company…
- Thailand News
Consumer groups challenge proposed electricity tariff rise
Consumer advocacy groups have opposed the proposed increase in electricity tariffs and have asked the Energy Regulatory Commission (ERC) to review all data used to calculate the Fuel Adjustment Charge (Ft) to ensure fairness to the public. According to Prasart Meetem, the Chair of the Committee on Public Services, Energy and Environment of the Consumer Council, the estimated Ft charge…
