Armed With $11 Billion, Thailand Oil Giants Hunt for Investments

by Supunnabul Suwannakij and Dan Murtaugh

 

- PTT E&P focusing on Southeast Asian fields, LNG projects

- Company and parent hold almost $11 billion cash, securities

 

BANGKOK: -- The Asian energy companies sitting on the largest horde of cash outside China are ready to put it to use.

 

Thailand’s PTT Exploration & Production Pcl and its parent company have nearly $11 billion combined in cash and marketable securities, such as bonds and other short-term investments. The explorer is ready to spend from its portion on projects and exploration acreage to rescue declining oil and gas reserves, according to Chief Executive Officer Somporn Vongvuthipornchai.

 

PTT E&P is eyeing early-life producing assets or projects that are already sanctioned and ready for development, Somporn said in an interview in Bangkok. It’s also looking to work with its parent, PTT Pcl, to invest in liquefied natural gas plants, which would help feed the country’s growing demand.

 

Full story: https://www.bloomberg.com/news/articles/2017-03-19/armed-with-11-billion-thailand-oil-giants-hunt-for-investments

 

-- Bloomberg 2017-03-20

Keep it for a rainy day or the next drop in oil prices.

 

 

Maybe they could use some of this money to build and create environmental safeguards that the little man in bangkok likes to talk about, and do absolutely nothing about. 

How about using it to invest in renewable/clean energy solutions?

more gas pipelines, more oil exploration  =   more jobs ...  

 

live for today ....  create jobs and growth for the economy.

2 hours ago, IamNoone88 said:

Should have bought Snapchat

I do not understand how this company managed a successful launch at that price.

 

No profits, no assets, nothing that the existing apps such as LINE, Whatsapp and Facebook cannot already do or could implement quickly, namely the time dependent deletion of the nonsense posted, and no voting rights for shareholders except the original owners.

 

With no profits the only hope of making some money owning the share is to silently hold it hoping for a greater fool to come and buy it at a higher price. I reckon most people are going to lose on this one. It is not an Apple.

2 hours ago, 12DrinkMore said:

I do not understand how this company managed a successful launch at that price.

 

No profits, no assets, nothing that the existing apps such as LINE, Whatsapp and Facebook cannot already do or could implement quickly, namely the time dependent deletion of the nonsense posted, and no voting rights for shareholders except the original owners.

 

With no profits the only hope of making some money owning the share is to silently hold it hoping for a greater fool to come and buy it at a higher price. I reckon most people are going to lose on this one. It is not an Apple.

Lemon?? Oh well time will tell. 

Bigger bonuses to top management for a job well done.

How about investing in Thai Education to unchain this country of the corrupt elite?