Thai Oil Giant Boosts Renewables Funding Over ‘Uncertain’ Crude Outlook

Published onJuly 3, 2019

Thai energy conglomerate PTT Pcl is boosting investments in electricity generation, particularly renewables, given what it says is a “highly uncertain” outlook for oil over the next year. The country’s biggest company, which is involved in everything from oil exploration and power generation to gasoline and coffee retailing, revised its 2019 capital spending plan in late June, Chief Executive Officer Chansin Treenuchagron said in an email interview. Most of the 33.2 billion baht ($1.1 billion) of extra budget will be spent on electricity projects, he said…“Under the volatile environment, PTT focuses more on clean energy as well as infrastructure,” Chansin said in the interview last week. “The plan aims to support the subsidiaries’ business expansion in electricity business and renewable energy.”