Stock news 3:37 pm 2024-03-01
Mr Sinont Wongkusolkit, the new CEO of Banpu Public Company Limited (BANPU) who will take up the position on April 2, announced the operating policy for 2024-25, continuing the Greener and Smarter strategy to create continuous growth and accelerating the transition to sustainable energy. Focused on generating strong cash flow growth through significant cost reductions. Including creating energy growth in key countries including Indonesia, Australia, the United States and China.
The aim of the company is to obtain a share of profit from the company’s operations before interest, taxes and depreciation. and amortization (EBITDA) of the clean energy business to exceed 50% by 2025 from the current level of 30-40%.
“Being in the Upstream enables us to look further at the Energy Outlook. and more accurate planning It is seen that all countries Focus on clean energy But coal is still in demand in the United States, Japan, China, India or ASEAN, causing a need for a balance between renewable energy and other fuels. in the medium to long term.”
Mr. said
In the main countries where BANPU has a presence, growth is seen in strong economies. and is in a variety of energy businesses From the beginning of the water to the end of the water By improving synergy and diversifying the entire energy value chain.
“With more than 10 years of experience, I see that Value is still quite a lot in the Up Stream. Looking forward, we have the advantage of being in the Up Stream, but my passion lies in the Down stream and Climate Tech. I moved to… Banpu Next has strengthened the synergy of Banpu Next to be more complete in the matter of Net Zero Solution and grow in Asia Pacific.”
Mr. said
What will be more focused on is Decarbonisation and digitalisation, including trending AI. Create growth for existing businesses Including coal, natural gas, Power Generation, including Energy Technology to be more efficient and effective.
As for the main countries What he will focus on is Indonesia, which is expected to be in the top 4 in the next few years with the highest GDP growth rate in the world, apart from the coal business. The company has set up a team to study and invest in the solar roof business, and Energy Management expects it to be an area that can create growth in the future. Including the battery business. They also see an opportunity to expand investment in the mining business such as nickel, copper, and gold.
Business in China Will focus more on Renewables after some operations start. Including the issue of Battery Manufacturing, it is expected that there will be more battery production capacity in China in the near future.
In Australia, BANPU is also a coal producer and focuses on Energy Trading because the Australian market is a free market. making energy prices or the price of electricity Up and down the supply chain The company has an Energy Trading team that deals with the arbitration of electricity bills or electricity trading. and use batteries to make battery farms and trade more electricity
While in the United States, BANPU is considered the largest natural gas producer in the state of Texas. It is also the first CCUS producer in the Barnett gas field. It is expected that there will be more production this year. Including investment in the Temple I and Temple II natural gas power plants in the US, it is likely to create continued growth this year as well.
Mr. You are for the energy technology business group. Under the operations of Banpu Next Company Limited, we also focus on Greening for the entire Banpu Group. While being able to operate the green energy solution business with Banpu Business Group. and customers in Asia and the Pacific In addition, we are working on Climate Technology and Technology for use in business.
BANPU has set a total investment budget of US $ 700 million this year, of which 50% will be invested in natural gas business and another 50% will be invested in clean energy by Banpu Next Co., Ltd., which’ n focus on more battery related businesses Because it can generate more cash flow than solar. or wind energy
At the same time, we are also looking at opportunities to expand investment in the form of acquisitions (M&A) in the gold and copper mining business in Indonesia and Laos because there is considerable supply. especially in Indonesia The subsidiary also tries to diversify risk from the coal business. Therefore, we have looked at the expertise of our existing team while expanding into businesses that can be implemented immediately, such as Mining Engineers, geologists, etc. It is expected that there will be clarity soon.
The company is still studying the use of ammonia and hydrogen as clean energy in power plants. Expect clarity during the month. This April-May. To push forward the plan to reduce carbon in electricity production according to the “Greener & Smarter” strategy to create continuous growth. and provide sustainable energy further towards the Net Zero goal in the future.
As for the coal business this year, the company will not have any additional investment. The total sales volume target is set at 38 million tonnes, divided into Indonesia, which increased to 26.1 million tonnes from 21 million tonnes last year, Australia, which increased to 8.8 million tonnes from 7.0 million tonnes last year, and China, which increased to 10 million tonnes since last year, 6.5 million tonnes, considering that there is still quite a lot of demand for coal in that country.
Plan to bring in subsidiary BKV Corporation (BKV), a major natural gas business operator and gas power plant in the United States. Listed on the New York Stock Exchange The company is in the process of monitoring the gas price situation. If it improves, there is an opportunity to proceed. It is believed that there will be good signs in the second half of 2024.
By InfoQuest News Agency (01 Mar. ’24)
Tags: BANPU , Banpu , Sinon Wongkusolkit , Thai stocks
#BANPUs #CEO #vows #stay #Greener #Smarter #focusing #growth #main #countries #studying #investment #goldcopper #mines #InfoQuest
