PTT is confident that sales in the second half of the year will still grow. Benefit from the economic recovery and high oil prices. Record increased profits from PTTEP, increasing renewable energy production capacity target to 15 gigawatts by 2020, while the battery business Production will begin at the end of this year.
Mr. Atthaphon Rerkpiboon, Chief Executive Officer and President of PTT Public Company Limited or PTT, revealed that the operating results trend for the second half of this year It is expected to increase compared to the first half of the year. From higher crude oil prices compared to the second quarter of 2023, while refining margins remained stable at a good level. Although it is lower than in 2022, it is considered better than at the beginning of last year. which the company’s operating results PTT Exploration and Production Public Company Limited or PTTEP is tied to oil prices. Causing the operating results to continue to grow Meanwhile, the petrochemical business is in the turn-down period. Therefore, PTT’s sales this year are expected to increase compared to last year. It comes from a better economic situation because in 2022 there will still be Covid, but this year there won’t be a full year of Covid. As a result, sales this year will be higher.
“The overall direction of this year’s business is still in line with the goals set. Especially the gas business after PTT Exploration and Production Public Company Limited or PTTEP was able to enter the G1/61 (Erawan) block area, able to increase gas production from 200 million cubic feet per day to 400 million. cubic feet per day And according to the plan, it will increase to 800 million cubic feet per day by April 2024. As for the PTT Group’s renewable energy business, it can do better than the plan. Production capacity both domestically and abroad totals more than 3,000 megawatts. PTT has increased its renewable energy production capacity target from the original target of 12 gigawatts to 15 gigawatts by 2030. It is also in the process of studying investments. Green Hydrogen Project together with Saudi Arabia as well,” Mr. Atthaphon said.
For the battery business Power backup systems for both electric vehicles and renewable energy. Recently, Nuovo Plus Company Limited joined with Gotion Hi-tech from China to set up a joint venture company, NV Gotion, to build a battery pack production plant with a production capacity of 2 gigawatt-hours per year. In the Eastern Economic Corridor (EEC), it is expected that high-quality lithium-ion batteries will be able to be produced and delivered to the market within this year. It will initially produce approximately 1 megawatt-hour per year. and can be expanded to 4 gigawatt-hours per year. In the future.
Source: Thai News Agency
