Thailand’s PTT sees oil, gas demand to fall in 2020; cuts capex 10%-15%

摘要

Singapore-Thailand national oil company PTT expects 2020 oil and gas sales to plummet as the country reels from the impact of the coronavirus pandemic, forcing it to cut capital expenditure by 10%-15% this year, the company said its first quarter report. Uncontrollable situations arising from the pandemic and the uncertainty of crude prices have made petroleum and petrochemical product prices volatile, which will affect the performance of PTT Group, it said Monday. The company expects the Dubai crude price to range from $30-$40/b this year.