PTTEP to invest $6.7 billion as it eyes 2024 production growth

Thailand’s national upstream company PTTEP is planning this year to invest $6.721 billion in oil, gas and clean energy projects both on its home turf and overseas, with the goal of boosting petroleum production by about 9% versus 2023 to 505,000 barrels of oil equivalent per day.

Oil and gas counters gaining traction

Investors have been nibbling at selected oil and gas (O&G)-linked counters on Bursa Malaysia, with several stocks trading at or near one-year high on the recent rebound in oil prices and improved work activities outlook in key sub-segments and Malaysia.

Tokyo Gas establishes LNG-to-power project in Vietnam

Three companies from Japan and Vietnam have joined forces to establish a new LNG-to-power project offshore Vietnam. Japanese fuel majors Tokyo Gas and Kyuden have established a joint venture (JV) with Vietnam’s Truong Tan Vietnam Group to develop the project in the Thái Bình province in the north of Vietnam.