ENERGY
PTTEP net profit surges to new record
- Published: 2 Feb 2013 at 00.00
- Newspaper section: Business
PTT Exploration and Production Plc (PTTEP), Thailand's biggest petroleum explorer, posted a record net profit of 57.3 billion baht last year on its highest-ever sales volume and increased prices.
Tevin Vongvanich, the president and chief executive, said the PTT Plc subsidiary saw net income surge 26% from 44.8 billion baht in 2011. Revenue totalled 218 billion baht, up by 26% from 2011, he said yesterday in a statement.
Average sales price rose to US$64.86 per barrel of oil equivalent (BOE) from $55.49 in 2011. Sales volume hit a record high of 275,923 BOE a day compared with 265,047 in 2011, on higher output from the Bongkot South field and projects in Vietnam.
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