Thailand's PTTEP replaces CEO: Update
(updates with company comment)
Thai oil company PTTEP announced on August 23 that its board had appointed a new CEO and director to replace Phongsthorn Thavisin, who is due to finish in the roles at the end of September.
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Replacing Thavisin is Montri Rawanchaikul, PTTEP's current president. Thavisin, aged 61, has served as company CEO since January 2019 and is now retiring, PTTEP told NGW.
PTTEP posted a 46% growth in net profits in the first half of this year on the back of higher prices and increased sales volumes. The company expects to produce on average 412,000 barrels of oil equivalent/day in 2021.