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NDR with Credit Suisse – PTTEP

PTTEP · Feb 5, 2015 · 46 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. NDR with Credit Suisse – PTTEP – slide 1
    NDR with Credit Suisse Feb 5-6, 2014
  2. NDR with Credit Suisse – PTTEP – slide 2
    Contents Overview Performance Outlook Overview Performance Outlook 1
  3. NDR with Credit Suisse – PTTEP – slide 3
    Oil Balance Thailand: Jan - Sep 2013 Adequate refining capacity maintains the stability of supply Overview Performance Outlook Supply Production Sales Import (80%) Domestic Imported Refined Petroleum Products 76 KBD 939 KBD…
  4. NDR with Credit Suisse – PTTEP – slide 4
    Natural Gas Balance: Jan Sep 2013 Main driver of the Thai economy Overview Performance Outlook Supply Production Sales Ethane/ Gulf of Thailand (75%) Propane/ LPG/NGL Petrochemical Feedstock Chevron (15%) Others 33% 3,493…
  5. NDR with Credit Suisse – PTTEP – slide 5
    PTT is Thailands Largest Energy Company Overview Performance Outlook PTT Public Limited Company (PTT) Robust revenue and Net Income growth since IPO (MMUSD) Largest company on Thai Stock exchange 93,128 Market cap US30bn1 or…
  6. NDR with Credit Suisse – PTTEP – slide 6
    PTTs Strategic Importance to Thailand Overview Performance Outlook Ministry of Finance holds majority stake in PTT PTT ratings at Thai sovereign level Public 34% Thai Ministry Foreign 18% of Finance 51% Kingdom of Thai 16%…
  7. NDR with Credit Suisse – PTTEP – slide 7
    Our Major Businesses & Activities Overview Performance Outlook Business Areas Company PTTs holding (%) Activities Upstream E&P PTTEP 65.29% Exploration and Production PTT PLC Intermediate Gas Pipeline 100% Sole…
  8. NDR with Credit Suisse – PTTEP – slide 8
    PTT Aspiration Strategic direction and target to achieve Big-Long-Strong aspiration Overview Performance Outlook Thai Premier Multinational Energy Company Strong TOP Quartile ROIC Big Long Ranked Fortune 81th Listed in DJSI…
  9. NDR with Credit Suisse – PTTEP – slide 9
    Net Income Performance: 9M/2012 vs 9M/2013 Overview Performance Outlook Unit : MMTHB 3% 81,930 6,500 Refinery 79,261 Total intake increased 6% 8,028 Avg. ACC GRM increased 24% 12,895 Petrochem Better spread margins 12,816…
  10. NDR with Credit Suisse – PTTEP – slide 10
    Contents Overview Performance Outlook Overview Performance Outlook 9
  11. NDR with Credit Suisse – PTTEP – slide 11
    Exploration & Production Performance : PTTEP (65.29%) Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Product Prices Net Income (100%) 5% 4% 103.82 Unit: MMUSD 100.33 99.68 95.14 15% Liquid (USD/BBL)…
  12. NDR with Credit Suisse – PTTEP – slide 12
    Exploration & Production Roadmap : PTTEP Growth Strategy to 600 KBOED in 2020 Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Potential Future Reserves Contributors Myanmar Australia Mozambique Kenya…
  13. NDR with Credit Suisse – PTTEP – slide 13
    Gas Business Performance : Natural Gas Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others NG Sales Volume GSP - Reference Product Prices Unit: MMSCFD Unit : USD/Ton AVG. 4,695 1,473 1,516 1,439 1,509 PP…
  14. NDR with Credit Suisse – PTTEP – slide 14
    Gas Business Performance Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Gas Business EBITDA NGV Sales Volume Unit: MMTHB Unit : Approx. KTon/Day 43,005 24% 2% 8.66 12% 32,717 8.49 8.53 Others (16%)…
  15. NDR with Credit Suisse – PTTEP – slide 15
    Gas Business Roadmap Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others PTTEP PTTEP LNG New (Bongkot (M9) Ph2 Supply South) LNG Capacity 5 5 5 5 5 10 (MTA) Offshore compressor Pipeline BVW7…
  16. NDR with Credit Suisse – PTTEP – slide 16
    Oil Business Performance : PTT Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Contribution Margin 1/ Oil BU - EBITDA Unit : THB/Liter Unit : MMTHB 11% 12,659 9% 8% 11,273 0.87 0.79 0.80 0.72 7%…
  17. NDR with Credit Suisse – PTTEP – slide 17
    Oil Business Development Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others PTT Green For Life PTT Innovation PTT COMPOSITE+ World class quality: PTT HyForce Premium Diesel Premium grade synthetic diesel…
  18. NDR with Credit Suisse – PTTEP – slide 18
    International Trading Business Performance : PTT Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Contribution Margin* Trading BU - EBITDA* Unit :THB/Liter Unit : MMTHB 37% 33% 25% 3,885 0.08 2,845…
  19. NDR with Credit Suisse – PTTEP – slide 19
    Refining Business Performance Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others GRM/GIM Net Income (100%) Unit : USD/BBL Unit : MMTHB 106.3 109.6 105.1 100% 11% Dubai 100.8 100% 24% 16,426 18,196 A/C GIM…
  20. NDR with Credit Suisse – PTTEP – slide 20
    Refinery Project Update Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Refinery upgrading (TOP) Maximize lube base oil production while increasing Gasoline/Jet/Diesel production Expected COD: 2014…
  21. NDR with Credit Suisse – PTTEP – slide 21
    Petrochemical Business Performance Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Spread Margins Net Income (100%) Unit : USD/Ton Unit : MMTHB 1% HDPE-Naphtha PX-Naphtha 26,785 26,524 2% 35% 3% 13%…
  22. NDR with Credit Suisse – PTTEP – slide 22
    Petrochemical Project Update Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others C4 Value Enhancement LT : C4 Upgrading to Butadiene ; Expected COD: Q1/14 Quench Oil Tower Modification To reduce naphtha to…
  23. NDR with Credit Suisse – PTTEP – slide 23
    Other Businesses : Coal - SAR (94.58%) Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Avg. Selling Price & Cash cost Net Income (100%) Unit : USD/Ton Unit : MMUSD 94.7 85% 91 19% 5% Selling price 74…
  24. NDR with Credit Suisse – PTTEP – slide 24
    Other Businesses : Power - GPSC (30.10%) Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Moving Forward (Capacity) Net Income (100%) Unit : MW Unit : MMBaht 6% 87% 378 2,531** 496 356 Renewable…
  25. NDR with Credit Suisse – PTTEP – slide 25
    PTT Consolidated Performance: 9M/2013 Overview Performance Outlook Dubai (USD/BBL) 106.3 109.6 105.1 9M/2013 100.8 Others PTTEP 4% Unit : MMTHB 7% 2% PTT - Gas 17% Revenue 2,060,947 2,092,694 8% 72% Revenue 723,152…
  26. NDR with Credit Suisse – PTTEP – slide 26
    Statement of Financial Position : Solid and Secured Overview Performance Outlook Unit: MMTHB Increased assets : PTTEPs Assets 4th Onshore pipeline Strong Financial Position 4% 12.3 12.5 ICR* 1,694,408 1,629,511 Cash &…
  27. NDR with Credit Suisse – PTTEP – slide 27
    Dividend Policy & Historical Payments PTT is firmly committed to pay dividend at no less than 25% of net income Overview Performance Outlook 43.6% 40.4% 32.4%32.6% 29.8% 30.1% 30.3% 30.8% 33.0% 34.7% 34.9% 35.5% 29.5% Dividend…
  28. NDR with Credit Suisse – PTTEP – slide 28
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 327bn (10bn) during 2014-2018 Highlights Performance Q4/2013 Outlook CAPEX Breakdown : 5 Years Unit: MMTHB By Business Unit LNG 14% Investment in Joint Venture…
  29. NDR with Credit Suisse – PTTEP – slide 29
    Contents Overview Performance Outlook Overview Performance Outlook 28
  30. NDR with Credit Suisse – PTTEP – slide 30
    Economic Outlook : Challenges ahead Q4/2013 Overview Performance Outlook US Market is the main focus : - US Fed Maintains Stimulus Measures : - Impact from US Government shutdown & Debt Ceiling EU market remains volatile : -…
  31. NDR with Credit Suisse – PTTEP – slide 31
    Market Outlook : Crude Oil Overview Performance Outlook Monthly Avg. Crude Oil WTI Brent Dubai Dubai Forecast (PTT Group PRISM) 122.5 Forecast 116.2 117.3 106.1 105.8 106.1 105.0 111.2 111.5 104.3 109.8 108.6 107.3 106.3 107.3…
  32. NDR with Credit Suisse – PTTEP – slide 32
    Market Outlook : Henry Hub Natural Gas Price Overview Performance Outlook Forecasted Henry Hub in Y2013 approximately 3.6-3.8 USD/MMBTU US approved 4 LNG Projects for exporting to NON-FTA countries Winter demand in US Shale…
  33. NDR with Credit Suisse – PTTEP – slide 33
    Market Outlook:Asia LNG Spot Price (JKM : Japan Korea Marker) Overview Performance Outlook Lower-than-average temp in North Asia Hot Summer Season in Japan Last Nuclear Power Plant in Japan Shutdown Fukushima Daiichi…
  34. NDR with Credit Suisse – PTTEP – slide 34
    Market Outlook : GRM Overview Performance Outlook Forecast 25.00 20.00 GO 15.00 Mogas 10.00 5.00 0.00 FO -5.00 -10.00 -15.00 Singapore GRM in Q4/2013 is estimated to be around 5-6 USD/BBL Winter Demand boost heating…
  35. NDR with Credit Suisse – PTTEP – slide 35
    Market Outlook : Petrochemical Overview Performance Outlook Unit :USD/ton Olefins Aromatics Q4 2013 Q4 2013 2,000 2,000 1,800 1,800 PP 1,600 1,600 PX 1,400 HDPE 1,400 1,200 1,200 BZ 1,000 1,000 800 Naphtha 800 Naphtha 600…
  36. NDR with Credit Suisse – PTTEP – slide 36
    Debt Profile : Control Cost & Manage Risk Managed debt according to financial risk and policy Debt Portfolio Unit : MMTHB PTT Only Consolidated : Cost of debts 4.8 % : Cost of debts 4.5 % : % fixed-rate 91.3 % : % fixed-rate 82.5…
  37. NDR with Credit Suisse – PTTEP – slide 37
    Statements of Consolidated Cash Flows for 9M 2013 & 2012 9M/2012 9M/2013 9M/2012 9M/2013 Operating 87,717 123,932 Investing -147,400 -70,226 Net Income 81,930 79,261 CAPEX(PP&E, Intangible asset) -87,948 -87,851 Changes in assets &…
  38. NDR with Credit Suisse – PTTEP – slide 38
    Statements of Cash Flows for Year 9M 2013 & 2012 (PTT Only) 9M/2012 9M/2013 9M/2012 9M/2013 Operating 29,161 19,482 Investing -437 20,835 Net Income 65,889 57,576 CAPEX (PP&E, Intangible asset) -15,672 -15,081 Changes in assets &…
  39. NDR with Credit Suisse – PTTEP – slide 39
    PTT Consolidated Performance: Q3/2013 Dubai (USD/BBL) 106.3 109.6 105.1 Q3/2013 100.8 Others PTTEP 4% Unit : MMTHB 7% 2% PTT - Gas 17% Revenue 2,060,947 2,092,694 8% 72% Revenue 723,152 669,609 PTT - Oil & Trading Others…
  40. NDR with Credit Suisse – PTTEP – slide 40
    PTT Group Performance : Q3/2013 Performance 100% % share Equity Method % PTT Unit : MMTHB Q2/13 Q3/13 QoQ Q2/13 Q3/13 QoQ PTT Net operating Income 4,213 7,320 74% 4,213 7,320 74% E&P - PTTEP 10,664 17,805 67% 65.29% 7,595 11,853 56%…
  41. NDR with Credit Suisse – PTTEP – slide 41
    PTT Group Performance : 9M/2013 Performance 100% % share Equity Method % PTT Unit : MMTHB 9M/12 9M/13 YoY 9M/12 9M/13 YoY PTT Net operating Income 37,384 23,566 -37% 37,384 23,566 -37% E&P - PTTEP 43,548 48,727 12% 65.29% 27,647…
  42. NDR with Credit Suisse – PTTEP – slide 42
    Data as of 30 Sep 2013 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production Plc.…
  43. NDR with Credit Suisse – PTTEP – slide 43
    Natural Gas Price Structure : Jan Sep 2013 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…
  44. NDR with Credit Suisse – PTTEP – slide 44
    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 3% :…
  45. NDR with Credit Suisse – PTTEP – slide 45
    Thailands Projected Energy Demand Commercial Primary Energy Consumption KBD 4000 3,674 3,261 Nuclear 1% 3% 3500 2,826 3% 13% 3000 13% 2,376 2% 17% 2500 Hydro/Import13% 16% 1,863 2%Renewable 12% 15% 2000 Coal/Lignite…
  46. NDR with Credit Suisse – PTTEP – slide 46
    Gas Business Generates Stable Returns Highlights Gas transmission pipeline capacity Sole owner and operator of entire gas transmission pipelines in Thailand (3,752 km), a regulated business IRROE ranges between Phu Hom 12.5% -…

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