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PTT NDR with Macquarie – PTTEP

PTTEP · Sep 19, 2014 · 49 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. PTT NDR with Macquarie – PTTEP – slide 1
    Leading ASEAN Energy Company PTT NDR with Macquarie Sep 18-19, 2014
  2. PTT NDR with Macquarie – PTTEP – slide 2
    Contents Overview Performance 2H/2014 Outlook Overview Performance 2H/2014 Outlook 1
  3. PTT NDR with Macquarie – PTTEP – slide 3
    Oil Balance Thailand: Jan-Jun 2014 Adequate refining capacity maintains the stability of supply Oil & Gas Balance Operational Results Financial Performance Economic & Market Outlook Supply Production Sales Import (80%) Domestic…
  4. PTT NDR with Macquarie – PTTEP – slide 4
    Natural Gas Balance: Jan Jun 2014 Main driver of the Thai economy Overview Performance 2H/2014 Outlook Supply Production Sales Ethane/ Gulf of Thailand (77%) Propane/ LPG/NGL Petrochemical Feedstock Chevron (14%) Others 34%…
  5. PTT NDR with Macquarie – PTTEP – slide 5
    PTT is Thailands Largest Energy Company Overview Performance 2H/2014 Outlook PTT Public Limited Company (PTT) Robust revenue and Net Income growth since IPO (MMUSD) Largest company on Thai Stock exchange 94,756 Market cap US65bn1 or…
  6. PTT NDR with Macquarie – PTTEP – slide 6
    PTTs Strategic Importance to Thailand Overview Performance 2H/2014 Outlook Ministry of Finance holds majority stake in PTT PTT ratings at Thai sovereign level Public 34% Thai Ministry Foreign 17% of Finance 51% Kingdom of Thai…
  7. PTT NDR with Macquarie – PTTEP – slide 7
    Our Major Businesses & Activities Overview Performance 2H/2014 Outlook Business Areas Company PTTs holding (%) Activities Upstream E&P PTTEP 65.29% Exploration and Production PTT PLC Intermediate Gas Pipeline 100% Sole…
  8. PTT NDR with Macquarie – PTTEP – slide 8
    PTT Aspiration Strategic direction and target to achieve Big-Long-Strong aspiration Overview Performance 2H/2014 Outlook Thai Premier Multinational Energy Company Strong TOP Quartile ROIC Big Long Ranked Fortune 84th Listed…
  9. PTT NDR with Macquarie – PTTEP – slide 9
    1H/14 Performance: Strong PTT performance outweigh soften affiliates Overview Performance 2H/2014 Outlook 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 11% FX…
  10. PTT NDR with Macquarie – PTTEP – slide 10
    Contents Overview Performance 2H/2014 Outlook Overview Performance 2H/2014 Outlook 9
  11. PTT NDR with Macquarie – PTTEP – slide 11
    E&P Key Overview in 1H/14 Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Exploration Began drilling Maple-East exploration well in Australia Farmed-in to offshore Brazil exploration project…
  12. PTT NDR with Macquarie – PTTEP – slide 12
    E&P Performance: High-cost asset pressured performance Overview Performance 2H/2014 Outlook 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% QoQ 5% HoH…
  13. PTT NDR with Macquarie – PTTEP – slide 13
    E&P Roadmap: Shifting up gears for high potential drilling prospects and development in key projects Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Q2 2014 Analyst Meeting Focus Country Key…
  14. PTT NDR with Macquarie – PTTEP – slide 14
    Gas BU Performance: Solid NG volume despite long winter and coup Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others NG Sales Volume* NG Customer Breakdown MMSCFD MMSCFD 7% QoQ 2% HoH AVG. 4,768…
  15. PTT NDR with Macquarie – PTTEP – slide 15
    Gas BU Performance : Better performance from better GSP margin Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others GSP - Reference Product Prices GSP Sales Volume USD/Ton kTon 5% HoH 1,572 3,232…
  16. PTT NDR with Macquarie – PTTEP – slide 16
    Gas BU: New Contractor : Expected completion 3rd quarter 2015 Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others 4th Onshore pipeline progress Awarded McConnell Dowell Constructors Thai Ltd. as a…
  17. PTT NDR with Macquarie – PTTEP – slide 17
    Oil BU Performance : Non-oil business helps supporting overall performance Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Contribution Margin 1/ Sales Volume 2/ THB/Liter MM Liter 2% HoH 1% HoH…
  18. PTT NDR with Macquarie – PTTEP – slide 18
    Oil BU: Going Forward Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others PTT Master Franchisor Creating Shared Value (CSV) Joining the Royal Project Foundation : Conservative coffee cultivation for…
  19. PTT NDR with Macquarie – PTTEP – slide 19
    Trading BU Performance : Strong margin overcomes soften volume Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Contribution Margin* Sales Volume THB/Liter MM Liter 6% HoH 8% QoQ 55% HoH 36,444…
  20. PTT NDR with Macquarie – PTTEP – slide 20
    Trading BU : Going Forward Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others 19
  21. PTT NDR with Macquarie – PTTEP – slide 21
    Refining Business Performance: Higher GRM/GIM but lower U-Rate from plants T/A Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others GRM/GIM Aromatics USD/BBL 106.1 105.3 Aromatics Production 104.5…
  22. PTT NDR with Macquarie – PTTEP – slide 22
    Refineries : Going Forward Overview Performance 2H/2014 Outlook 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- End July…
  23. PTT NDR with Macquarie – PTTEP – slide 23
    Petrochemical Business Performance: Low Aromatics spreads pressured performance Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Refineries Aromatics CDU 101% 103% 102% BTX U-Rate 82% 98% 91%…
  24. PTT NDR with Macquarie – PTTEP – slide 24
    Petrochemical : Going Forward Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Strategy NEW GEOGRAPHIES/PRODUCTS THROUGH JV going forward International Business & JV Objective: To expand…
  25. PTT NDR with Macquarie – PTTEP – slide 25
    Other Businesses : Coal - SAR (94.58%) Lower performance amid coal price downturn Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Avg. Selling Price & Cash cost Sales Volume USD/Ton kTon 7% HoH…
  26. PTT NDR with Macquarie – PTTEP – slide 26
    SAR Project Update Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others 1H/14 Operational Overview: Continued cost reduction initiative program under downturn market. Mining contracts at Sebuku and…
  27. PTT NDR with Macquarie – PTTEP – slide 27
    Other Businesses : Power - GPSC (30.10%) Higher margin drives performance Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Sales Volume Net Income* (100%) GWh 8% HoH (Power) MMBaht kTon 29% HoH…
  28. PTT NDR with Macquarie – PTTEP – slide 28
    Other Businesses : Power GPSC (30.10%) Project update & overseas opportunities Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Progress Update (Q2/14) Highlight Planned Activities 2014 Ratchaburi…
  29. PTT NDR with Macquarie – PTTEP – slide 29
    PTT Consolidated Performance: 1H/14 Overview Performance 2H/2014 Outlook 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% Revenue 716,571…
  30. PTT NDR with Macquarie – PTTEP – slide 30
    Statement of Financial Position Overview Performance 2H/2014 Outlook 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 1,800,393 Cash &…
  31. PTT NDR with Macquarie – PTTEP – slide 31
    Dividend Policy & Historical Payments PTT is firmly committed to pay dividend at no less than 25% of net income Overview Performance 2H/2014 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% 39.3%…
  32. PTT NDR with Macquarie – PTTEP – slide 32
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 327bn* (10bn) during 2014-2018 Overview Performance 2H/2014 Outlook CAPEX Breakdown : 5 Years Unit: MMTHB By Business Unit Investment in Joint Venture and Its…
  33. PTT NDR with Macquarie – PTTEP – slide 33
    Contents Overview Performance 2H/2014 Outlook Overview Performance 2H/2014 Outlook 32
  34. PTT NDR with Macquarie – PTTEP – slide 34
    Economic Outlook : Challenges Ahead Overview Performance 2H/2014 Outlook US Market : Economy Expands at Moderate to Modest Pace : - US Economics Recovery - Fed maintain QE tapering : - Russian Sanction EU market: Geopolitical…
  35. PTT NDR with Macquarie – PTTEP – slide 35
    Henry Hub / JKM Price Outlook: Gas price tends to move up in short term from winter season Overview Performance 2H/2014 Outlook US LNG Export Terminal Projects LNG Global Demand/Supply 800 Speculative 700 Excess Supply expected in…
  36. PTT NDR with Macquarie – PTTEP – slide 36
    Crude Oil Outlook: Political tension uplifts oil price Overview Performance 2H/2014 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…
  37. PTT NDR with Macquarie – PTTEP – slide 37
    Refinery Margin Outlook : Refinery margin remains stable during harvest season Overview Performance 2H/2014 Outlook CDU Additional Vs Additional Demand AP&ME Refinery Maintenance in Asia-Pacific Area AAsia-Pacific Refinery…
  38. PTT NDR with Macquarie – PTTEP – slide 38
    Petrochemical Outlook : Olefin spread stable from higher demand after Ramadan Overview Performance 2H/2014 Outlook Asia Ethylene Supply/Demand Balance Asia Propylene Supply/Demand Balance 4.5 110% 4.5 110% 4.0 100% 4.0 100%…
  39. PTT NDR with Macquarie – PTTEP – slide 39
    Petrochemical Outlook: Expect PX margin to recover, PX high cost producer still cut run Overview Performance 2H/2014 Outlook Asia Paraxylene Supply/Demand Balance 2.5 110% 2.0 100% Million Metric Tons Availability 1.5 90%…
  40. PTT NDR with Macquarie – PTTEP – slide 40
    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…
  41. PTT NDR with Macquarie – PTTEP – slide 41
    PTT Group Performance : 1H/14 (HoH) 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 24,901* 55% E&P - PTTEP 30,932 30,621 -1% 65.29%…
  42. PTT NDR with Macquarie – PTTEP – slide 42
    PTT Group Performance : Q2/14 (QoQ) 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 - PTTEP 12,435 18,186 46% 65.29% 7,450…
  43. PTT NDR with Macquarie – PTTEP – slide 43
    Statements of Consolidated Cash Flows 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 -53,095 Changes in assets & liabilities -23,121…
  44. PTT NDR with Macquarie – PTTEP – slide 44
    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…
  45. PTT NDR with Macquarie – PTTEP – slide 45
    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.…
  46. PTT NDR with Macquarie – PTTEP – slide 46
    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…
  47. PTT NDR with Macquarie – PTTEP – slide 47
    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%…
  48. PTT NDR with Macquarie – PTTEP – slide 48
    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%…
  49. PTT NDR with Macquarie – PTTEP – slide 49
    Gas Business Generates Stable Returns Overview 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% - 18%…

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