PTT Public Company Limited

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PTT Public Company Limited
Type Public
Traded as SETPTT
Industry Oil and Gas
Founded 29 December 1978 as Petroleum Authority of Thailand
Headquarters 555 Vibhavadi Rangsit Road, Chatuchak, Bangkok, Thailand
Key people Mr. Pailin Chuchottaworn President & CEO
Products Oil, Natural Gas, Petrochemical
Revenue Increase ฿ 2,883.9 billion (2013)[1]
Net income Decrease ฿ 94.6 billion (2013)[1]
Total assets Increase฿ 1,801.7 billion (2013)[1]
Total equity Increase฿ 682.6 billion (2013)[1]
Employees 9,015[2]
Parent Thai Ministry of Finance
Subsidiaries PTT Exploration & Production
PTT Global Chemical
PTT Chemical
IRPC
Thaioil
Website www.pttplc.com

PTT Public Company Limited, PTT PLC, 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.[3]

Affiliated companies include PTT Exploration and Production, PTT Global Chemical, PTT Asia Pacific Mining,[4] and PTT Green Energy.

PTT is one of the largest corporations in the country and also the only company from Thailand listed in Fortune Global 500 companies. The company ranks 81st among top 500 on the Fortune 500, and 180 on the Forbes 2000.[5][6]

Operation[edit]

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.[4][7]

In 2012, PTT Exploration and Production (PTTEP) took over Cove Energy plc, which owns an 8.5-per cent share in a huge natural-gas field in Mozambique. [8]

The company which currently operates 58 retail stations in the Philippines, will add additional 15-20 petrol stations in Luzon and the Visayas, specifically in the province of Cebu. [9]

PTT Public Company Limited and Pertamina, Indonesia's state-owned oil company signed into partnership to build a new petrochemical complex in Indonesia for an estimated cost of US $4 to 5 billion.[10]

PetroSkills Alliance[edit]

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.[11]

Vencorex[edit]

Vencorex is a JV between PTT Global Chemical and the Perstorp Group, created in 2012 based in France, Rhône-Alpes region.

Vencorex is the owner of technology and a major manufacturer of isocyanates, particularly toluene diisocyanate (TDI), hexamethylene diisocyanate (HDI, IPDI) and its derivatives.

Oil spills[edit]

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".[12] "[T]he Australian unit of PTT Exploration and Production (PTTEP) admitted to four charges over the" 2009 spill.[12]

The 2013 Rayong oil spill[13] 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.[13][14] 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".[12] On 7 August 2013 media said that the Department of Special Investigation had seized an oil supply line, suspected of being faulty.[15]

Green Energy[edit]

In November 1993, Anand Panyarachun, a former Prime Minister of Thailand, established the Thailand Business Council for Sustainable Development with the objective of promoting sustainable development.[16] In 2010, President and CEO Prasert Bunsumpun announced that PTT would expand into producing more environmentally friendly energy.[17] PTT has many subsidiaries, including PTTGC, TOP, BCP, and PTTEP, all of which are working towards producing more environmentally friendly energy.[18] In 2014, Bangchak Petroleum completed its Sunny Bangchak project. ‘Sunny Bangchak ‘is a 38-megawatt silicon photovoltaic power plant, the largest of its kind in South East Asia.[19][20] In September 2014, Thai Oil Public Company Limited (TOP), another subsidiary of PTT, was recognized as a leader in business sustainability by the DJSI.[21] Thai Oil (TOP) has proven to be an environmentally friendly company, with no reported violation of environmental laws to date.[22] In addition, the company also produces and distributes ethanol from sugarcane through various channels like Maesod Clean Energy, Sapthip, and Ubon Bio Ethanol.[23] In August 2014, PTT Global Chemical (PTTGC) along with Diary Home and NatureWorks, announced their eco-friendly ingeo bioplastics yoghurt cup, the next step in eco-friendly products.[24] PTTGC aims to become a major player in bio-based chemicals within the next few years.[25]

References[edit]

  1. ^ a b c d "PTT Financial Statement Highlights". Stock Exchange of Thailand. 
  2. ^ "Fortune Global 500 2011: PTT". Fortune. Retrieved 16 April 2012. 
  3. ^ Google finance, PTT Public Company
  4. ^ a b Robinson, Gwen (August 27, 2012). "PTT buys control of Sakari for S$1.2bn - FT.com". Financial Times (Bangkok). Retrieved 12 September 2012. 
  5. ^ "PTT moves up on Fortune 500 Please credit and share this article with others using this link:http://www.bangkokpost.com/business/news/359485/ptt-moves-up-on-fortune-500. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Post Publishing PCL. All rights reserved.". Bangkob Post. 12 July 2013. Retrieved 18 June 2014. 
  6. ^ "The World 2000". Forbes. Forbes. Retrieved 18 June 2014. 
  7. ^ 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. 
  8. ^ "Thailand to invest in Mozambique". Investvine.com. 2013-02-09. Retrieved 2013-02-16. 
  9. ^ "Thailand’s PTT expands in the Philippines". Investvine.com. 2013-02-17. Retrieved 2013-02-21. 
  10. ^ "Thailand’s PTT delays Malaysia investment". Investvine.com. 2013-04-01. Retrieved 2013-04-06. 
  11. ^ "PetroSkills LLC: Private Company Information- BusinessWeek">[1]
  12. ^ a b c No slick explanation for huge PTT oil spill
  13. ^ a b Maierbrugger, Arno (31 July 2013). "Thai oil spill: Romantic island is ‘disaster zone’ (video)". Inside Investor. Retrieved 31 July 2013. 
  14. ^ Popular island beach closed by oil slick
  15. ^ "DSI points to human error as spill cause". Bangkok Post. 2013-08-07. 
  16. ^ "TBCSD". Thailand Business Council for Sustainable Development. Retrieved 2014-11-29. 
  17. ^ VIBOONCHART, NALIN (2010-04-16). "PTT turns to renewable energy" (Press release). THE NATION. Retrieved 2014-11-29. 
  18. ^ "Home". PTT group. Retrieved 2014-11-29. 
  19. ^ "BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED". Greenergy Excellence Business. Retrieved 2014-11-29. 
  20. ^ "Suntech, Bangchak Turn On Southeast Asia's Largest Solar Plant" (Press release). PRNewswir. 2012-09-26. Retrieved 2014-11-30. 
  21. ^ "Industry Group Leaders 2014". Dow Jones Sustainability Indices In Collaboration with RobecoSAM. Retrieved 2014-11-29. 
  22. ^ "Industry Group Leader Report, THai Oil PCL". ROBECOSAM Sustainability Investing. Retrieved 2014-11-29. 
  23. ^ "Thaioil Public Company Limited". Thaioil group business structure. Retrieved 2014-11-29. 
  24. ^ Changsorn, Pichaya (2014-08-31). "'Green chemicals' make major inroads into local market" (Press release). THE NATION. Retrieved 2014-11-29. 
  25. ^ "Thai PTTGC Plans $11 Billion Capex by 2020" (Press release). Chemanager Online. 2012-05-17. Retrieved 2014-11-30. 

External links[edit]