The decision on the three projects would help the SET-listed company re-focus business plans for projects that are still in the exploration stage, she added. Ms Pannalin said PTTEP holds an 8.5% stake in Rovuma A1 and the project needs about $1.9 billion capital expenditure. Meanwhile, PTT announced that it posted a net profit of 26.9 billion baht in the third quarter of 2016, reversing from a net loss of 26.5 billion baht in the same period of last year. In the first nine months, PTT had a net profit of 75.5 billion baht, up from 19.7 billion year-on-year. PTT shares closed at 335 baht, down six baht, in heavy trade worth 1.6 billion baht.

Source: Bangkok Post November 14, 2016 00:08 UTC