ASEAN KEY DESTINATIONS
PTT's plans five-year investments
"The projects for future growth are indefinite. But if we include those projects in the five-year investment plan for 2011-2015, the total budget will go as high as Bt1 trillion. We will propose it to the board of directors' meeting in December for approval," he said.
Not more than Bt300 billion of the five-year budget will be invested by PTT up from the previous figure of Bt240 billion. The focus will be on power plants, coal business, and floating liquefied natural gas facilities overseas.
Prasert Bunsumpun, president and chief executive officer, said about half of the new budget was for overseas investment, mainly involving oil and gas exploration and production in Australia, Burma, Indonesia and Africa. This shows PTT's intention to search for oil and gas abroad to ensure stable energy supplies for Thailand's security in the long term.
PTT will continue with its plan next year to construct a jetty for imported LNG and an LNG terminal tank. The company believes that the projects will not be categorised as activities harmful to the environment.
PTT believes global oil prices this year will not exceed US$80$90 per barrel despite the United States' new budget of $500 billion (Bt14.9 trillion) to stimulate its economy in the rest of this year. The main factor is the oversupply of global oil visavis demand.
PTT has no plan to adjust its retail oil prices, as it has held the marketing margin at Bt1.50 per litre.
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