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Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited

PTT Public Company Limited · Aug 14, 2014 · 57 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 1
    Leading ASEAN Energy Company Analyst Meeting Q2 and 1H/2014 PTT Auditorium 14 Aug 2014
  2. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 2
    Safety and Sustainability: PTT implements several safety programs that really improve the safety performance Aspiration = Zero Accident Injury Rate (Injuries/Million hrs) 4 3 2 1 0 2007 2008 2009 2010 2011 2012…
  3. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 3
    Safety and Sustainability: PTT consistently receives awards on Safety performance 28 PTTs Operations and Offices awarded the Best National Safety Site from Ministry of Labour and Social Welfare PTT Suratthani Petroleum Terminal has…
  4. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 4
    Safety and Sustainability: PTT is ranked among the top companies on green performance In 2014, PTT achieves 136th rank in the Worlds Greenest Companies survey conducted by Newsweek, the only Thai company on the list 8 Criteria 1.…
  5. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 5
    Contents Highlights Performance 2H/2014 Outlook STS 2014 Highlights Performance 2H/2014 Outlook Strategic Thinking Session (STS) 2014 4
  6. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 6
    Highlights 1H/14: Solid from PTT Contribution Highlights Performance 2H/2014 Outlook STS 2014 Gas margin increased from better product Lower PTTEPs performance Operation prices though sales volume decreased mainly from Montara…
  7. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 7
    Highlights 1H/14 (Cont.) Highlights Performance 2H/2014 Outlook STS 2014 PTT ranked 84th on the Fortune Global 500 Uncertainty from Energy Reform Key Events List 2014 Update Refineries major T/A : TOP, IRPC, SPRC, and BCP PTT…
  8. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 8
    R&D 100 Award Highlights Performance 2H/2014 Outlook STS 2014 7
  9. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 9
    R&D 100 History Highlights Performance 2H/2014 Outlook STS 2014 2014 - PTT won R&D 100 Award, as the 1st company in Thailand, from PTT DIESEL CNG PTT DIESEL CNG (2014) 8
  10. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 10
    Moving Toward TAGNOC: PTT Innovation Highlights Performance 2H/2014 Outlook STS 2014 9 9
  11. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 11
    Key Business Drivers: PX still in down cycle while THB continues depreciated Highlights Performance 2H/2014 Outlook STS 2014 Dubai vs FO (/BBL) LNG vs HH (/MMBTU) 120 Dubai FO 22 8 Dubai JLC* Avg. 16.5 Avg. 16.8 Avg. 16.7 Avg.…
  12. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 12
    1H/14 Performance: Strong PTT performance outweigh soften affiliates Highlights Performance 2H/2014 Outlook STS 2014 MMTHB 22% 1,453 1,087 1,192 1,700 297 57,886 9,224 Avg. A/C GIM increased 8% 3,312 62% Aggregate intake decreased…
  13. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 13
    Contents Highlights Performance 2H/2014 Outlook STS 2014 Highlights Performance 2H/2014 Outlook Strategic Thinking Session (STS) 2014 12
  14. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 14
    E&P Key Highlights in 1H/14 Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others Exploration Began drilling Maple-East exploration well in Australia Farmed-in to offshore Brazil exploration…
  15. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 15
    E&P Performance: High-cost asset pressured performance Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others Product Prices Sales Volume 4% 3% KBOED 100.84 104.64 102.82 Liquid 99.36 6%…
  16. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 16
    E&P Roadmap: Shifting up gears for high potential drilling prospects and development in key projects Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others Q2 2014 Analyst Meeting Focus…
  17. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 17
    Gas BU Performance: Solid NG volume despite long winter and coup Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others NG Sales Volume* NG Customer Breakdown MMSCFD MMSCFD 7% QoQ 2% HoH…
  18. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 18
    Gas BU Performance : Better performance from better GSP margin Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others GSP - Reference Product Prices GSP Sales Volume USD/Ton kTon 5% HoH 1,572…
  19. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 19
    Gas BU: New Contractor : Expected completion 3rd quarter 2015 Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others 4th Onshore pipeline progress Awarded McConnell Dowell Constructors Thai…
  20. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 20
    Oil BU Performance : Non-oil business helps supporting overall performance Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others Contribution Margin 1/ Sales Volume 2/ THB/Liter MM Liter 2%…
  21. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 21
    Oil BU: Going Forward Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others PTT Master Franchisor Creating Shared Value (CSV) Joining the Royal Project Foundation : Conservative coffee…
  22. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 22
    Trading BU Performance : Strong margin overcomes soften volume Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others Contribution Margin* Sales Volume THB/Liter MM Liter 6% HoH 8% QoQ 55% HoH…
  23. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 23
    Trading BU : Going Forward Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others 22
  24. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 24
    Refining Business Performance: Higher GRM/GIM but lower U-Rate from plants T/A Highlights Performance 2H/14 Outlook E&P Gas Oil & Trading Refining PetChem Others GRM/GIM Aromatics USD/BBL 106.1 105.3 Aromatics Production 104.5…
  25. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 25
    Refineries : Going Forward Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others CDU-3 Major Turnaround T/A : 18 Mar - 9 Apr T/A : 1May- 15 Jun (46 Days) T/A or S/D (165 KBD) : 15 Jun-…
  26. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 26
    Petrochemical Business Performance: Low Aromatics spreads pressured performance Highlights Performance 2H/14 Outlook E&P Gas Oil & Trading Refining PetChem Others Refineries Aromatics CDU 101% 103% 102% BTX U-Rate 82% 98% 91%…
  27. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 27
    Petrochemical : Going Forward Highlights Performance 2H/14 Outlook E&P Gas Oil & Trading Refining PetChem Others Strategy NEW GEOGRAPHIES/PRODUCTS THROUGH JV going forward International Business & JV Objective: To expand…
  28. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 28
    Other Businesses : Coal - SAR (94.58%) Lower performance amid coal price downturn Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others Avg. Selling Price & Cash cost Sales Volume USD/Ton…
  29. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 29
    SAR Project Update Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others 1H/14 Operational Highlights: Continued cost reduction initiative program under downturn market. Mining contracts at…
  30. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 30
    Other Businesses : Power - GPSC (30.10%) Higher margin drives performance Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others Sales Volume Net Income* (100%) GWh 8% HoH (Power) MMBaht…
  31. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 31
    Other Businesses : Power GPSC (30.10%) Project update & overseas opportunities Highlights Performance 2H/2014 Outlook STS 2014 E&P Gas Oil & Trading Refining PetChem Others Progress Update (Q2/14) Highlight Planned Activities 2014…
  32. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 32
    PTT Consolidated Performance: 1H/14 Highlights Performance 2H/2014 Outlook STS 2014 Dubai 106.1 105.3 104.5 104.5 1H/13 1H/14 (USD/BBL) 5% Others PTTEP 4% 1,433,262 4% 1,369,407 7% 8% Unit : MMTHB 0.02% 17% PTT - Gas 17%…
  33. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 33
    PTT Group Performance : 1H/14 (HoH) Highlights Performance 2H/2014 Outlook STS 2014 Performance 100% % share Equity Method % PTT Unit : MMTHB 1H2013 1H2014 HoH 1H2013 1H2014 HoH PTT Net operating Income 16,107 24,901* 55% 16,107…
  34. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 34
    Statements of Consolidated Cash Flows Highlights Performance 2H/2014 Outlook STS 2014 1H/2013 1H/2014 1H/2013 1H/2014 Operating 61,478 87,809 Investing -46,578 -54,758 Net Income 47,491 57,886 CAPEX(PP&E, Intangible asset) -59,555…
  35. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 35
    Statement of Financial Position Highlights Performance 2H/2014 Outlook STS 2014 MMTHB Decreased assets : Petroleum exploration and production 0.3% assets due to asset swap of Canada Oil 1,805,041 Sands KKD project of PTTEP…
  36. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 36
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 327bn* (10bn) during 2014-2018 Highlights Performance 2H/2014 Outlook STS 2014 CAPEX Breakdown : 5 Years Unit: MMTHB By Business Unit Investment in Joint…
  37. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 37
    Contents Highlights Performance 2H/2014 Outlook STS 2014 Highlights Performance 2H/2014 Outlook Strategic Thinking Session (STS) 2014 36
  38. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 38
    Economic Outlook : Challenges Ahead Highlights Performance 2H/2014 Outlook STS 2014 US Market : Economy Expands at Moderate to Modest Pace : - US Economics Recovery - Fed maintain QE tapering : - Russian Sanction EU market:…
  39. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 39
    Henry Hub / JKM Price Outlook: Gas price tends to move up in short term from winter season Highlights Performance 2H/2014 Outlook STS 2014 US LNG Export Terminal Projects LNG Global Demand/Supply 800 Speculative 700 Excess Supply…
  40. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 40
    Crude Oil Outlook: Political tension uplifts oil price Highlights Performance 2H/14 Outlook World Oil Demand/Supply Balance Dubai Dubai 105/bbl 105/bbl 96 Dubai 103/bbl 8 95.02 95 Geopolitics 7 94.21 Surplus 94 93.31 0.81 6…
  41. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 41
    Refinery Margin Outlook : Refinery margin remains stable during harvest season Highlights Performance 2H/2014 Outlook STS 2014 CDU Additional Vs Additional Demand AP&ME Refinery Maintenance in Asia-Pacific Area AAsia-Pacific…
  42. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 42
    Petrochemical Outlook : Olefin spread stable from higher demand after Ramadan Highlights Performance 2H/2014 Outlook STS 2014 Asia Ethylene Supply/Demand Balance Asia Propylene Supply/Demand Balance 4.5 110% 4.5 110% 4.0 100% 4.0…
  43. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 43
    Petrochemical Outlook: Expect PX margin to recover, PX high cost producer still cut run Highlights Performance 2H/2014 Outlook STS 2014 Asia Paraxylene Supply/Demand Balance 2.5 110% 2.0 100% Million Metric Tons…
  44. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 44
    Contents Highlights Performance 2H/2014 Outlook STS 2014 Highlights Performance 2H/2014 Outlook Strategic Thinking Session (STS) 2014 43
  45. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 45
    PTT Group STS 2014 Highlights Performance 2H/2014 Outlook STS 2014 50th year anniversary Toward Knowledge based Organization 44
  46. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 46
    PTT Group STS 2014 Highlights Performance 2H/2014 Outlook STS 2014
  47. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 47
    Key Takeaways 1H/2014 Full resumption of GSP5 Better PTTs performance offsets affiliates slowdown Aromatics spread tumbled from additional supply & lower demand Progress on 2 major projects (4th Onshore & LNG Terminal) 2H/2014…
  48. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 48
    Statements of Cash Flows (PTT Only) 1H/2013 1H/2014 1H/2013 1H/2014 Operating 8,864 28,238 Investing 12,158 7,938 Net Income 37,376 25,147 CAPEX (PP&E, Intangible asset) -9,782 -14,004 Changes in assets & liabilities -19,896 -8,544…
  49. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 49
    PTT Group Performance : Q2/14 (QoQ) Highlights Performance 2H/14 Outlook Performance 100% % share Equity Method % PTT Unit : MMTHB Q1/14 Q2/14 QoQ Q1/14 Q2/14 QoQ PTT Net operating Income 13,739 11,162* -19% 13,739 11,162* -19% E&P -…
  50. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 50
    Debt Profile : Control Cost & Manage Risk Managed debt according to financial risk and policy Debt Portfolio Unit : MMTHB PTT Only Consolidated : Cost of debts 4.61 % : Cost of debts 4.43 % : % fixed-rate 81.82 % : % fixed-rate…
  51. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 51
    Data as of 30 June 2014 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production Plc.…
  52. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 52
    Oil Balance Thailand: Jan-May 2014 Adequate refining capacity maintains the stability of supply Supply Production Sales Import (80%) Domestic Imported Refined Petroleum Products 102 KBD 928KBD Crude/ Refined Condensate Total…
  53. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 53
    Natural Gas Balance: Jan Jun 2014 Main driver of the Thai economy Supply Production Sales Ethane/ Gulf of Thailand (77%) Propane/ LPG/NGL Petrochemical Feedstock Chevron (14%) Others 34% 3,526 41% MMSCFD 962 MMSCFD (20%)…
  54. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 54
    Natural Gas Price Structure : Jan-Jun 2014 Gas prices are mostly agreed under long-term contracts and volatility pass-through to ensure stable returns. Sales Price Structure Customers1 Gas Pool Price + Supply Margins + Pipeline…
  55. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 55
    Natural Gas : Strong and Increasing Demand over Long Term Natural gas is a fuel of choice for power producers and transportation industry Gas demand forecast (CAGR during 2013-2030) : Total 2% : Power 3% : GSP -1% : Industry 2%…
  56. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 56
    Thailands Projected Energy Demand Commercial Primary Energy Consumption KBD 4000 3,728 3,306 1% Nuclear 4% 3500 3% 13% 2,862 3000 13% 3% 2,321 Hydro/Import13% 19% 2500 17% 1,917 2% Renewable 12% 14% 2000 2%…
  57. Q2 AND 1H 2014 CONFERENCE CALL – PTT Public Company Limited – slide 57
    Gas Business Generates Stable Returns Highlights Gas transmission pipeline capacity Sole owner and operator of entire gas transmission pipelines in Thailand (3,678 km), a regulated business IRROE ranges between Phu Hom 12.5% -…

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