PTT Group monitors the geopolitical conflict situation. Coordinate fuel information to ensure stability and no shortages. Mr. Atthaphon Rerkpiboon, Chief Executive Officer and President of PTT Public Company Limited, said that PTT has been following the Israeli-Iran conflict situation. Continuously, there is energy management for both oil and gas. And there is no shortage of natural gas at reasonable prices. which from that PTT has business in foreign countries. There are trading centers on many continents. It makes the supply distributed. Do not rely on the Middle East only. As did Mr. Wutthikorn Stithit, Chief Operating Officer of PTT's Upstream Petroleum and Natural Gas Business Group, speaking at the seminar. What must be done to set a fair electricity price? As for natural gas, it is the main fuel for generating electricity. Currently, more LNG must be imported, but the price is currently considered stable at around $10 per million BTU. which Thailand must rely on gas During the transition to clean en ergy, where PTT is one of the importers under the supervision of the Energy Regulatory Commission, electricity production is becoming more challenging day by day. Because the world has entered the digital age and AI has caused the demand for electricity to double. The key is a balanced mix of free competition and regulatory systems. All of which are driven by policies that must consider prices that must reflect costs so as not to create a burden on the country in the long run. Including preparing infrastructure to support more renewable energy coming in. PTTEP announced its first quarter results with revenue of 2,093 million US dollars and profit of 524 million US dollars. This was mainly due to a decrease in crude oil sales from projects in Algeria. But there is an increase in sales volume from G1/61 (or Erawan) which has increased its gas production capacity to 800 million cubic feet/day since 20 March. In addition, the company still maintains the cost per unit at $28.96/barrel It is expected that the aver age sales volume this year will be 509,000 barrels/day, increasing from 2023, mainly from an increase in G1/61 and B8/32. PTTEP expects that this year Crude oil supply will remain tight. with important factors such as economic growth and production control of the OPEC+ group, etc. It is expected that the price of Dubai crude oil will move in the price range of 70-90 dollars/barrel. Source: Thai News Agency
