PTT Exploration and Production Public Company Limited (SET: PTTEP) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Dollar |
0.51 | 0.51 |
| Earning Per Share (Dollar) |
0.1300 | 0.1300 |
| % Change | -0.58 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Dollar |
1.69 | 1.69 |
| Earning Per Share (Dollar) | 0.4300 | 0.4100 |
| % Change | -0.35 | |
In Q3/2024, the Group had a net profit of 511 MMUSD. A decrease of 3 MMUSD or 1% from a net profit of 514 MMUSD in Q3/2023, was primarily from lower revenue from sales, together with higher depreciation, depletion and amortization, offset with a decrease in income taxes, as well as a gain from oil price hedging instruments in this quarter.
When compared the average sales volume of Q3/2024 to Q3/2023 of 467,452 BOED, the average sales volume increased by 2%, primarily from G1/61 Project ramped up the natural gas production in March 2024, together with the increase in participating interest in Yadana Project following the partner’s withdrawal in April 2024. Meanwhile, the average selling price decreased by 3% to 47.07 USD/BOE (Q3/2023: 48.62 USD/BOE), primarily due to a decrease of market crude prices while gas prices slightly increased.
PTTEP’s performance outlook for the year 2024
Sales volumes, gas price and unit cost are the primary factors that impact PTTEP’s performance. The company has continuously monitored and adjusted the assumptions to reflect the current situation and to align with the evolving operational plans and industry dynamics. The summarized performance outlook for the year 2024 is as follows:
