PTT to slash costs amid US tariff burden

National oil and gas conglomerate PTT Plc plans to cope with US tariffs and a dip in global oil prices by reducing expenses and increasing operational efficiency to boost profits.

- YUTHANA PRAIWAN

The company is also experiencing a downturn in the petrochemical and oil refining industries.

The new measures form three schemes, dubbed "Axis" to reduce spending, "D1" to promote asset synergy under PTT Group to cut unnecessary expenses, and "Mission X" to drive up profits.

Under Axis, PTT will maintain sufficient cash on hand by reducing expenses by 11 billion baht a year incurred by its subsidiaries between 2025 and 2029.

"We can achieve this by pushing for digital transformation to support our work," said Kongkrapan Intarajang, president and chief executive of PTT.

For D1, the company plans to synergise physical assets as well as human assets to reduce expenses by 3 billion baht a year.