PTT Public Company Limited
|Traded as||SET: PTT|
|Industry||Oil and Gas|
|Founded||29 December 1978 as Petroleum Authority of Thailand|
|Headquarters||555 Vibhavadi Rangsit Road, Chatuchak, Bangkok, Thailand|
|Key people||Mr.Pairin Chuchotethavorn President & CEO|
|Products||Oil, Natural Gas, Petrochemical|
|Revenue||฿ 2,475.4 billion (2011)|
|Net income||฿ 105.3 billion (2011)|
|Total assets||฿ 1,402.4 billion (2011)|
|Total equity||฿ 555.9 billion (2011)|
|Parent||Thai Ministry of Finance|
|Subsidiaries||PTT Exploration & Production, PTT Global Chemical|
PTT Public Company Limited, PTT PCL, or simply PTT (ปตท.) is a Thai state-owned SET-listed oil and gas company. Formerly known as the Petroleum AuThority of Thailand, it owns extensive submarine gas pipelines in the Gulf of Thailand, a network of LPG terminals throughout the Kingdom, and is involved in electricity generation, petrochemical products, oil and gas exploration and production, and gasoline retailing businesses.
PTT is one of the largest corporations in the country and also the only company from Thailand that listed in the Fortune Global 500 companies, which ranks 128 among top 500 companies in the world, an improvement of 27 ranks since 2010 according to Fortune magazine in 2011.
PTT owns 45.4% of Sakari Resources, a Singaporean operator of coal mines. PTT launched a takeover bid for the company on August 27, 2012. PTT is offering $959 million for the remaining shares that PTT does not already control.
In 2008 PTT joined the PetroSkills Alliance. Member companies came together to create detailed skill and Competency Maps, which act as a guide for the 200+ short courses, taught to industry professionals in over 40 locations worldwide. Competency Maps are an analysis tool and software application that allows users to assess their skills base to identify gaps in their training, areas needing improvement or mastered skill areas within upstream, downstream, and HSE petroleum subject disciplines.
The 2009 Montara oil spill, 250 km off Australia's northwestern coast led to "Thousands of barrels of oil gushed into the ocean over a 10-week period following a blowout at PTTEP Australasia's West Atlas rig in the Timor Sea". "[T]he Australian unit of PTT Exploration and Production (PTTEP) admitted to four charges over the" 2009 spill.
The 2013 Rayong oil spill started on the night of 28 July 2013 an oil leak (from a pipeline) 35 kilometers from Ko Samet's Ao Phrao beach, resulted in the beach being closed and its tourists evacuated, after spillage reached the beach. On 4 August 2013 media said that the crude oil spill had occurred 20 km off of Thailand's mainland, "when a floating hose transferring oil from a tanker to a PTT refinery pipeline broke sending, PTT says, 50,000 litres of oil spewing into the coastal waters". On 7 August 2013 media said that the Department of Special Investigation had seized an oil supply line, suspected of being faulty.
- "PTT Financial Statement Highlights". Stock Exchange of Thailand. Retrieved 2012-03-21.
- "Fortune Global 500 2011: PTT". Fortune. Retrieved 16 April 2012.
- Google finance, PTT Public Company
- Robinson, Gwen (August 27, 2012). "PTT buys control of Sakari for S$1.2bn - FT.com". Financial Times (Bangkok). Retrieved 12 September 2012.
- Behrmann, Elisabeth; Daniel Ten Kate (August 27, 2012). "PTT Bids S$1.2 Billion for Rest of Sakari to Add Coal Assets - Bloomberg". Bloomberg L.P. Retrieved 12 September 2012.
- "Thailand to invest in Mozambique". Investvine.com. 2013-02-09. Retrieved 2013-02-16.
- "Thailand’s PTT expands in the Philippines". Investvine.com. 2013-02-17. Retrieved 2013-02-21.
- "Thailand’s PTT delays Malaysia investment". Investvine.com. 2013-04-01. Retrieved 2013-04-06.
- "PetroSkills LLC: Private Company Information- BusinessWeek">
- No slick explanation for huge PTT oil spill
- Maierbrugger, Arno (31 July 2013). "Thai oil spill: Romantic island is ‘disaster zone’ (video)". Inside Investor. Retrieved 31 July 2013.
- Popular island beach closed by oil slick
- "DSI points to human error as spill cause". Bangkok Post. 2013-08-07.