Despite Thai oil, PTT upbeat on q1

Though PTT's subsidiary Thai Oil had posted a declining net profit, this would be offset by the increasing net profit of PTT Exploration and Production (PTTEP) and PTT Chemical, he said.

Thai Oil posted a net profit of Bt3.8 billion, down from Bt5.94 billion last year, while PTTEP recorded a net profit of Bt8.9 billion, up from Bt6.77 billion.

PTT Chemical made a net profit of Bt5.71 billion, up from Bt2.67 billion.

However, PTT has continued shouldering costs of Bt30 billion, given that it cannot increase the retail prices of petrol, diesel, liquefied petroleum gas (LPG) and natural gas for vehicles (NGV).

It has to shoulder Bt5 billion for retail oil prices, Bt20 billion for LPG and Bt3 billion for NGV.

PTT might hike the retail oil price this week if the global crude-oil price kept rising, but would postpone doing so if crude were to decline.

PTT's natural-gas transmission from Burma had not been affected by the recent cyclone, he added.