Bangkok: PTT reaffirms its confidence that Thais will not face energy shortages, reporting a net profit of 78,263 million baht in the first half of 2026, a 74% increase. The company continues to expand its LNG portfolio to reach 15 million tons by 2035.
According to Thai News Agency, Dr. Kongkrapan Intarajong, Chief Executive Officer and President of PTT Public Company Limited (PTT), revealed that amidst the potentially prolonged unrest in the Middle East, which could lead to volatility in global energy prices, rising gas and oil prices, and supply disruptions, PTT is confident in its ability to manage its business throughout the supply chain to ensure Thailand has no energy shortages. This is achieved through prepared financial liquidity to mitigate increased costs and volatility, diversification of crude oil sources for increased flexibility, and a global network of business partners to ensure a continuous crude oil supply. Furthermore, PTT Group is consolidating its strengths to maintain refinery operations and ensure domestic supply stability.
'The energy situation is unpredictable. Even this year, no one can say for sure what it will be like. Therefore, it's difficult to predict the future as well. Besides the fundamental factors of demand and supply, there are also policy factors and decisions from the leaders of various countries, which cause significant volatility. Therefore, we must plan to cope with uncertainty. Looking at the context, PTT's internal improvements, strategic operational planning, and preparation of financial liquidity, including increasing reserves, ensure that we will not experience shortages,' said Dr. Kongkapan.
Thanks to sound strategic planning and effective management during the recent crisis, PTT focused on its core and specialized hydrocarbon business, coupled with reducing greenhouse gas emissions, strengthening investment oversight processes under good corporate governance, and a commitment to generating strong returns for shareholders. This resulted in better-than-expected performance in the first half of 2026, with a net profit of 78,263 million baht, an increase of over 33,000 million baht or more than 74% compared to the same period last year. The main sources of profit were from PTT Exploration and Production Public Company Limited (PTT EP), the petrochemical and refining business, and the international trading business.
Key strategic performance indicators include accelerating competitiveness, ensuring national energy security, continuing gas production to meet domestic demand, and expanding overseas investments. For the liquefied natural gas (LNG) business, the goal is to expand the LNG portfolio to 3.7 million tons by 2026, and to 10 million tons and 15 million tons by 2030 and 2035, respectively. This is based on the expectation that natural gas will continue to play a crucial role in maintaining energy system stability during the global transition to clean energy, including in Thailand. Investment will focus on key projects where the company has expertise, such as PTT Exploration and Production Public Company Limited (PTT EP). PTT will invest in infrastructure, while investments in new plants will be reduced due to their 3-4 year development time and the inherent risks from trade wars. Any market shift after completion could pose a sales risk, requiring individual project assessments.
Furthermore, it is necessary to monitor government policy directions, especially regarding the reduction of refining margins to help alleviate the burden on the public. It is acknowledged that such policies affect the decisions of foreign investors. Therefore, PTT must build understanding with the government regarding the impact on business and investment, and simultaneously communicate the Thai context to foreign investors.