Dr. Kongkrapan Intarajang, (Chief Executive Officer and President) of PTT Public Company Limited (SET: PTT), held a media meeting for the performance of the company in the first half that delivered solid results, recording a net profit of Baht 44,848 million, compared to Baht 90,072 million for the full year in 2024.
The strong performance reflects the effectiveness of the company’s strategy amid external headwinds, including the global economic slowdown, lower crude oil prices (impacting stock gains/losses), and reduced spreads for petroleum and petrochemical products. In addition, 2024 included more non-recurring special gains compared with 2025.
PTT’s vision is to be “strong with Thai society and grow globally sustainably,” with a mission to ensure national energy security, while reducing greenhouse gas emissions, and responsibly care for all stakeholders.
Key Strategic Operations
- Hydrocarbon Business:
As PTT’s core area, this segment continues to enhance national energy security and competitiveness. PTT Exploration and Production Plc (SET: PTTEP) expanded exploration and production activities, increasing output from the Athit, Sinphuhom, and MTJDA fields, and also secured the Reggane II project. PTT is also moving toward becoming a Global LNG Player, targeting an LNG portfolio of 10 million tonnes per year by 2030 and 15 million tonnes per year by 2035. In line with this, PTT signed a joint study agreement for long-term LNG procurement with 8 Star Alaska, LLC (USA). - Non-Hydrocarbon Business:
This segment continues to progress in line with the company’s portfolio adjustment strategy. The Life Science business is growing through partnerships and moving toward self-funding. PTT also adjusted its stake in Lotus’s via share sales to increase flexibility in investment and business decisions. The company also restructured its EV business by divesting its investment in Neo Mobility Asia Co., Ltd., in line with its strategic direction.
Sustainability Focus
PTT Group continues to drive a balanced energy transition across three key pillars:
- Security: Enhancing national energy security through risk diversification and support for economic growth.
- Affordability/Competitiveness: Ensuring energy is accessible at reasonable prices with competitive cost structures.
- Sustainability: Conducting business with a focus on reducing greenhouse gas emissions and long-term resilience.
Key initiatives include:
- Completion of the study for the Eastern Thailand CCS Hub, with a final investment decision (FID) for a CCS project in the Athit field.
- Feasibility studies on low-carbon ammonia as a co-fuel in power plants.
- A cooperation agreement with Avaada Ventures Private Limited (India) to study the technical and commercial feasibility of sourcing green hydrogen and green ammonia for Thailand.
Strengthening Internal Capabilities
PTT is executing several key projects aimed at boosting operational efficiency, EBITDA, and overall competitiveness:
| Project | Purpose |
| D1 & Project One (P1) | Synergies in supply chain and marketing; market expansion |
| MissionX | Operational excellence and sustainable transformation |
| Axis | Digital transformation and workforce development |
| A1 | Asset monetisation and optimisation |
| F1 | Financial discipline and long-term value for investors |
Social Responsibility Highlights
PTT Group continues to uphold its commitment to Thai society through various initiatives:
- ESG-linked investments: Working with financial institutions and preparing to launch the first “Young Saver Bond”.
- Disaster relief: Delivering survival kits to refugee centres near the Thai-Cambodian border and assisting flood victims in Phrae and Nan provinces.
- Agricultural support: Supporting farmers through the “Bring a Smile to Farmers” project.
- Royal initiatives promotion: Promoting environmental awareness via the “Streams of Life” short film series and the “Royal Mercy, Premprachawannarak” youth activity.
In addition, the CEO noted that PTT is looking for business partners to fulfil what it lacks. The final decision should be no later than the end of this year. To steer through these global headwinds that have been sinking all energy business around the world down, the company will strengthen its core from within, which is why key projects aimed at boosting operational efficiency that were mentioned above are crucial for the company’s sustainable growth. He also hinted that the Board of Directors will announce an interim dividend payment by the end of this quarter at a ratio that will keep investors happy, while maintaining financial position at a positive level.
