State-backed Thai player PTT Exploration & Production’s (PTTEP’s) new chief executive, Montri Rawanchaikul, intends to strengthen the firm’s core upstream business in Southeast Asia, while preparing for new energy opportunities.
Thai oil and gas group PTT has signed a joint venture deal with leading electronics producer Foxconn to make electric vehicles (EVs) as Thailand aims to become the region's top manufacturer and exporter of EVs. The move underscores the state-backed energy company's desire to diversify away from the traditional oil and gas business, which may have slower growth potential in the long run.
Thailand’s PTT Exploration & Production (PTTEP) is working with Netherlands-based TechnologyCatalogue.com to find novel and proven technologies to reduce its carbon (CO2) footprint.
From congested streets to deserted highways, traffic conditions across Asia are shedding light on each nation’s battle to contain Covid-19 and maintain economic activity, which in turn affects oil consumption.
Chevron is responsible for decommissioning dozens of platforms at the giant Erawan Block, which it will hand over to Thai national oil company PTT Exploration & Production (PTTEP) in April 2022, when its concessionary contract expires. However, delays in official government approvals leaves key decommissioning contracts stalled for now.
Thailand’s B.Grimm Power will form a 50/50 joint venture to source and trade liquefied natural gas (LNG) with PTT Global LNG, a subsidiary of state-backed energy company PTT.
Thailand’s oil giant, whose sales account for about 10% of the nation’s economic output, is suddenly spending billions of dollars on electric-vehicle and renewable-energy companies and tilting its traditional businesses toward chemicals and plastics.
Thailand’s PTT Exploration & Production (PTTEP) said yesterday that there is still “no clarity” around access to the Chevron-operated Erawan gas field off Thailand ahead of a transition next year. PTTEP wants access before next April’s handover to ensure a smooth transition and stem a production decline at the field, which is key to Thai energy security.
Global Power Synergy, the listed power unit of Thailand’s national energy company PTT Group, has acquired a 41.6% stake in Indian renewable energy provider Avaada Energy for about 14.8 billion baht ($453 million).
Thailand’s PTT Exploration & Production (PTTEP) said it will need between one and two years to hit its contractual production target at the Erawan field offshore Thailand once it takes over from current operator Chevron.
Thailand’s PTT Exploration & Production (PTTEP) is having difficulty accessing the Chevron-operated Erawan gas field to install production facilities as planned, ahead of a transition next year. PTTEP is now reportedly “losing hope” of gaining access before next April’s handover due to an unresolved legal battle with Chevron.
Southeast Asia is emerging as a hotspot for global solar investment with over $10 billion invested just last year. In 2020, the region represented 12% of the global solar market and installed capacity has more than doubled every year since 2018, Rishab Shrestha, analyst at Wood Mackenzie told the APAC power and renewables summit today.
Industry sources have told Energy Voice that liquidators for financially crippled Asia-focused upstream player KrisEnergy are accepting non-binding offers for the Singapore-based company’s assets.
Thailand's state-owned oil and gas group, PTT, will invest 20 billion baht ($635 million) in renewable energy in India, China and elsewhere in Asia, as it takes steps to shift from fossil fuels to cleaner energy sources.
Petronas and Hess have agreed amendments to an existing upstream gas sales agreement for fields offshore Malaysia that cements the value of the US-based company’s North Malay Basin assets. This makes any potential divestment process easier as Hess focuses on its prolific acreage offshore Guyana.
Financially crippled Asia-focused upstream player KrisEnergy has finally admitted defeat and filed a winding-up petition to the Grand Court of the Cayman Islands. In response, state-backed Keppel Corporation, the largest shareholder in the Singapore-listed company, appears intent on seizing KrisEnergy’s remaining assets in Asia.
French energy giant TotalEnergies has said it has done everything within its power for now to limit revenues going to the military junta in Myanmar while staying within a legal framework and maintaining crucial power supplies.
Total and Chevron will suspend cash distribution by a joint venture that counts a Myanmar state-owned company as a shareholder.
Thailand’s PTT Exploration & Production (PTTEP) and Malaysia’s Petronas have made a second gas discovery in the shallow waters of Balingian province off the Malaysian state of Sarawak.
State-run Electricity Generating Authority of Thailand (Egat) and national energy conglomerate PTT are jointly studying a development proposal for a 5 million tonne per year floating storage regasification unit (FSRU) to import liquefied natural gas (LNG).
Offshore drilling company Valaris, which last week emerged from bankruptcy, has won a contract extension for its Valaris JU-115 jack-up rig offshore Thailand
Chevron’s recently-appointed president Chatit Huayhongtong has pledged to ensure a smooth transfer of its Erawan gas field, now facing a legal dispute, to Thai upstream company PTT Exploration and Production (PTTEP), reported the Bangkok Post.
Thai upstream player PTT Exploration and Production (PTTEP) plans to keep acquiring new production assets in the Middle East and Southeast Asia to boost reserves and bolster sales.
Claxton, the lead brand of UK-based Acteon's drilling and decommissioning business segment, has signed a master services agreement with Thailand-based Beacon Offshore for the severance and recovery of more than 100 subsea wells in the Gulf of Thailand.
Thailand’s PTT Exploration & Production (PTTEP) reported net profit of $376 million for the first quarter 2021 on the back of higher oil prices and gains from the “bargain purchase” of Oman Block 61 from BP.