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Thailand Oil Business to Maintain Investment Budget.
Byline: Yuthana Praiwan
Oct. 3--PTT Plc will maintain its investment budget of 99.7 billion baht over the next five years despite the intensifying worldwide economic slowdown.
PTT was made a public company on Oct 1 with the Finance Ministry holding a 100 percent stake pending a public share offering scheduled for later this year.
President Viset Choopiban yesterday outlined the company's policy to focus on three core businesses -- gas, oil, and petrochemicals and refining.
It will limit future investments in non-core businesses such as chemical fertiliser as well as reduce its ownership in Bangchak Petroleum Plc.
Many countries have revised their economic growth forecasts in the wake of the terrorist attacks in the United States but PTT's future investments have been assessed as sound despite the economic slowdown, said Mr Viset.
PTT will continue investing in petrochemical and refining businesses to utilise indigenous gas and condensate reserves.
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