PTT shows a strong first half, with net profit surging to 78,263 million baht, up 74%, driven by petroleum exploration and production, and the petrochemical and refining businesses. The board is set to approve an interim dividend payment in early September, with expectations it will exceed last year's payout of 0.90 baht per share. The company has also set a target of 3.75 million tonnes of LNG trading for the year, having already achieved 1.75 million tonnes in the first half, and is confident that full-year capital expenditure will meet the target of 25,000 million baht.
Mr. Kongkraphan Intarajang, President and Chief Executive Officer of PTT Public Company Limited (PTT), disclosed that amid the ongoing unrest in the Middle East, PTT — which carries two roles, namely that of a state enterprise and a company listed on the Stock Exchange — must ensure national energy security while at the same time looking after shareholders in the stock market.
PTT has passed an important test: during the crisis, PTT placed national energy security as its highest priority, managing its business across the entire supply chain and preparing financial liquidity to accommodate rising costs and increased volatility. Additional crude oil was sourced from other regions, including Africa and the United States, to supplement supplies. The share of crude oil imported from the Middle East, which had previously been as high as 70%, has now fallen to only 30%, achieved through PTT Trading's globally extensive network of business partners, enabling continuous crude oil procurement.
In addition, advance investment in refineries to enhance refining efficiency and flexibility has enabled the company to accommodate crude oil from a wide variety of sources. The adoption of the right strategic direction and effective management — focusing on the hydrocarbon business as its core area of expertise, while simultaneously reducing greenhouse gas emissions and tightening investment discipline — resulted in PTT achieving first-half 2026 operating results that were better than expected, with net profit of 78,263 million baht, an increase of more than 33,000 million baht, or more than 74 percent, compared with the same period of the previous year.
PTT's board of directors will hold a meeting in early September 2026 to consider and approve the payment of an interim dividend from PTT's first-half operating results for this year. It is believed that shareholders will not be disappointed. In the first half of 2025, PTT paid a dividend of 0.90 baht per share.
Mr. Kongkraphan said that key strategic performance results include accelerating the enhancement of competitiveness and building national energy security. PTT's exploration and production business — through PTTEP — has continued producing natural gas to meet domestic energy demand while expanding overseas investment. The liquefied natural gas (LNG) business has leveraged the capabilities of its international trading operations and global trade network to diversify energy sources, enhancing flexibility and reinforcing energy security. This year, PTT has set a target to expand its LNG portfolio to 3.7 million tonnes, having already achieved 1.75 million tonnes in the first half, with plans to expand to 10 million tonnes and 15 million tonnes by 2030 and 2035, respectively. Natural gas will play a pivotal role in maintaining the stability of energy systems as the world — including Thailand — undergoes a transition to clean energy. In this regard, on 14–17 September, PTT, together with the Ministry of Energy and public and private sector partners, will co-host Gastech 2026, at which Thailand will demonstrate its potential on the world energy stage and exchange policy perspectives among government, the private sector, and international organisations.
As for the petrochemical and refining business, it continues to seek global partners to strengthen its flagship operations while adjusting its approach in response to the changing context arising from unrest in the Middle East as well as factors stemming from government intervention policy.
Mr. Kongkraphan said that PTT is ready to serve as the country's backbone in developing infrastructure and greenhouse gas reduction technology through the Carbon Capture and Storage (CCS) project at the Arthit natural gas field in the Gulf of Thailand, which is expected to begin operations in 2028. This will be pursued alongside the I-SPARK initiative — a pilot project designed to build readiness in clean energy and infrastructure to support the industries of the future and Thailand's economic growth, and to help Thailand achieve its Net Zero target in 2050.
The PTT Group is accelerating the strengthening of itself from within, improving operating performance and creating added value through intra-group collaboration exceeding 8,700 million baht via Profit Enhancement Initiatives, which include the MissionX project, as well as driving digital transformation through the AXIS project, focusing on the application of digital tools and AI in operations. This also encompasses supply chain and marketing collaboration both domestically and internationally through the P1 and D1 projects, alongside Financial Excellence (F1) operations to maintain financial and management discipline. As of the end of June 2026, the PTT Group had total liquidity of 425,000 million baht, of which approximately 120,000 million baht belonged to PTT itself.
Regarding the capital expenditure budget for 2026, PTT has set a target of 25,000 million baht. Approximately 10,000 million baht was spent in the first half of the year, and the company is confident that full-year capital expenditure will meet the target.
In addition, PTT plans to issue domestic debentures in early the fourth quarter of 2026, with the amount currently under consideration, as Thailand's capital market is more favourable than overseas markets due to lower interest rates.
Furthermore, the PTT Group supports government measures and alleviates the impact of energy prices on the public. The estimated value of support for government measures is approximately 17,500 million baht in total, representing PTT's own share of more than 8,500 million baht.
