Publications

PTT (Thailand) will invest in the retail and industrial power sectors

25 Jun 2019

Thailand's largest energy group and national oil company PTT has decided to raise investments in the retail and industrial power sectors to offset the global economic slowdown in its oil refining and chemical activities. The group is facing thin profit margins in a context of low demand and chemical supply exceeds.

PTT aims to list its retail subsidiary PTT Oil & Retail Co (PTTOR) in an initial public offering (IPO), which could raise around US$2bn. Proceeds from the IPO would help PTT expand its retail business across Asia (Vietnam, Laos, Cambodia and other countries). PTTOR is also considering building an LPG import terminal near Thilawat in Myanmar, while PTT's power generation branch Global Power Synergy (GPSC) is developing a gas-fired power project in Myanmar.

PTT plans to expand GSPC, which acquired the 69.1% stake held by ENGIE in Glow Energy in June 2018; Glow Energy is the third largest IPP in Thailand with a capacity of approximately 3.1 GW (2018). Earlier in June 2019, PTT approved a 47% increase in its investment spending plan to support GSPC's projects in electricity and renewables.

Register to receive our daily newsletter

 


 

Interested in energy data and analysis?

Enerdata combines over 200 trusted sources and 25 years of experience to offer you the most up-to-date energy and emissions databases and information services.
Covering all energy sources for 186 countries, Enerdata can respond to all of your energy needs.

Request a free trial Any questions? Just email us