PTT has diversified into energy-maintenance services through a joint venture with a GE Energy subsidiary, Granite Service International. “PTT has no intention to be the operator of a large power plant like the Electricity Generating Authority of Thailand, but we will focus on power maintenance services for industrial plants or oil rig platforms,” PTT president and CEO Prasert Bunsumpun said yesterday. The joint venture (JV), named PTT Management and Engineering (PTTME), will serve both PTT Group companies and other customers, he said. (The Nation)

PTT Plc, Thailand’s largest energy company, aims to raise the annual revenue from its overseas coal business to US$500-600m by 2014. Prospects for local business growth have dimmed due to environmental concerns, said Chitrapongse Kwangsukstith,acting president of PTT International. The group has explored business opportunities in Madagascar and Brunei in addition to existing coal operations in Indonesia, he said.

PTT Plc will negotiate with the contractors of its 18 suspended projects in Map Ta Phut for a settlement of penalties worth up to Bt31b for construction delays caused by the Administrative Court’s order to suspend work.

PTT will increase the reception capacity of its liquefied-petroleum-gas depot in Chon Buri at a cost of Bt2.3b if its sixth gas-separation plant cannot commence commercial operations within six months. However, executive vice president Nattachart Jaruchinda said if the sixth plant could begin commercial operations sooner, the company would use a floating terminal in the meantime, costing Bt1m a day, to accommodate more LPG imports. (The Nation)

PTT Plc plans to spend Bt243b over the next five years to expand its natural gas business and enter into joint ventures. The majority state-owned energy company said it would also seek loans worth Bt80b from 2010-14 on top of an existing Bt30b approved earlier for working capital and debt refinancing.

The two companies most affected by the suspensions at Map Ta Phut, PTT and the Siam Cement Group (SCG),are hopeful some projects affected by this week’s Supreme Administrative Court’s order will still be able to move forward.

PTT Plc, the country’s biggest energy company, will raise its foreign investment to about half its budget in 2014, up from 20-30% now, as domestic resources are being depleted, said chief executive and president Prasert Bunsumpun. The group’s five-year investment plan to 2013 calls for spending of Bt900b, with 20-30% on overseas projects.