<article>PTT Plc, Thailand&#8217;s national oil and gas conglomerate, is allocating 239 billion baht ($7.28 billion) as an outlay for investments, to be done over the next four years.</article>

PTT Plc, Thailand&#8217;s national oil and gas conglomerate, is allocating 239 billion baht ($7.28 billion) as an outlay for investments, to be done over the next four years.
Kanyamas Rithidej, senior financial officer of PTT’s Investor Relation Department, said that the group will spend 42% of that budget on natural gas business, 38% on the investment of its joint-venture companies and subsidiaries, 17% on oil business and the rest 3% on research and development projects. He disclosed this in an event organised by Stock Exchange Market of Thailand (SET).
However, PTT has cut its investment budget this year from 86.948 billion baht ($2.65 billion) to 55.497 billion baht ($1.69 billion). The main reason behind this cutback is the company missing its investment target in liquefied natural gas (LNG) business; in mergers and acquisition; as well as business expansion in overseas.
“B the end of this year, we may reconsider our investment plan in 2015, but we believe that it will go in line with our four-year investment plan,” she said.
Meanwhile, the company also plans to list two of its subsidiaries, Star Petroleum Refining Company (SPRC) and Global Power Synergy Company (GPSC), in the SET, during the first half of the next year.
It is in the process of preparing and submitting the required documents to the Securities and Exchange Commission.
In the first three quarters of this year, PTT Group has recorded a much better performance than the same period, last year. It&#8217;s gas business EBITDA was up by 36%, oil business increased 4% and retail oil business’s rose by 39%.
Meanwhile, the EBITDA of NGV business declined by 10% because it has not benefitted from the energy price adjusted by the government. However, it believes that NGV’s EBITDA will be improve after revision of the energy price structure.
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Thailand's PTT plans $7.8b investment

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