Oil giant PTT boosts renewables funding over 'uncertain' crude outlookPTT CEO Chansin Treenuchagron speaks during the 20th Asia Oil & Gas Conference in Kuala Lumpur, Malaysia June 24, 2019. (Reuters file photos)Energy conglomerate PTT Plc is boosting investments in electricity generation, particularly renewables, given what it says is a “highly uncertain” outlook for oil over the next year. Buffeted by trade wars, geopolitical tension and the North American shale boom, oil faces an uncertain outlook over the next year, according to Mr Chansin. The company sees Brent crude fluctuating between $55 and $75 a barrel for the rest of this year, Mr Chansin said. It’s also started trading LNG and has aspirations to become a global trader of the fuel, Mr Chansin said.

Source: Bangkok Post July 02, 2019 04:26 UTC