PTT Forecasts Improved Business in Second Half of 2024
PTT Plc expects a better business performance in the second half of 2024 due to an improving Thai economy and higher energy demand. Key factors include increased travel and foreign tourist arrivals, with GDP growth expected at 3% in the third quarter and 4% in the fourth. Despite a decline in refinery margins, PTT foresees higher diesel and gasoline demand in the US and Europe.
National oil and gas conglomerate PTT Plc anticipates stronger business performance in the latter half of 2024, driven by Thailand's recovering economy and an uptick in energy demand due to year-end festivals and the tourism season.
Tanapon Prapapan, vice-president for investor relations at PTT, cited increased travel and foreign tourist arrivals, along with higher factory production as key contributors.
The Bank of Thailand's Monetary Policy Committee forecasts GDP growth of approximately 3% in the third quarter and 4% in the fourth quarter of 2024.
The National Economic and Social Development Council reported a GDP growth of 2.3% for the second quarter.
Despite a 24% decline in the gross refinery margin due to increased production capacity, PTT expects higher demand for diesel and gasoline in the US and Europe later this year.
The petrochemical sector remains sluggish owing to global supply increases.
PTT plans to revisit its oil, non-oil, and electric vehicle businesses to adapt to economic changes and growing competition.
The company is yet to finalize strategies in the EV segment involving car assembly, battery manufacturing, and its partnership with China's Xpeng.
Tanapon Prapapan, vice-president for investor relations at PTT, cited increased travel and foreign tourist arrivals, along with higher factory production as key contributors.
The Bank of Thailand's Monetary Policy Committee forecasts GDP growth of approximately 3% in the third quarter and 4% in the fourth quarter of 2024.
The National Economic and Social Development Council reported a GDP growth of 2.3% for the second quarter.
Despite a 24% decline in the gross refinery margin due to increased production capacity, PTT expects higher demand for diesel and gasoline in the US and Europe later this year.
The petrochemical sector remains sluggish owing to global supply increases.
PTT plans to revisit its oil, non-oil, and electric vehicle businesses to adapt to economic changes and growing competition.
The company is yet to finalize strategies in the EV segment involving car assembly, battery manufacturing, and its partnership with China's Xpeng.
