Thailand's PTT to balance carbon, green businesses to meet net zero target

Oil and gas major plans to revise 5-year, $2.4 billion investment plan

Kongkrapan Intarajang, the newly appointed president and CEO of PTT Group, Thailand's major oil and gas conglomerate. (Photo by Apornrath Phoonphongphiphat)

APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer

June 14, 2024 18:45 JST

BANGKOK -- Thailand's oil and gas conglomerate PTT plans to adjust its five-year investment plan worth 89 billion baht ($2.4 billion) in September to balance the group's businesses to achieve sustainable profit and meet its net zero emission goal in 2050.

PTT's newly appointed president and chief executive officer Kongkrapan Intarajang said the company plans to revisit several projects to see if the company and its subsidiaries should go on as is, or be reshaped to realize sustainable profit.