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PTT, Bangchak raise oil prices by 40 satang/litre
 BANGKOK,
28 May 2011 (NNT) – Domestic oil retailers and refineries, PTT Plc and Bangchak
Petroleum Plc, have increased their retail prices of benzene products by 40
satang per litre, except for E85, which is raised by 20 satang a litre ,
starting from Saturday at 05.00 hrs onwards.
The price adjustment is due to the higher price of Dubai crude in the Singapore
market, which was up by 3 US dollars per barrel at close of business on 26 May
2011; therefore, the new retail oil prices at all PTT and Bangchak stations in
Bangkok and its vicinities are as follows:
Benzene 91 now costs 42.44 baht per litre.
Gasohol 95 stands at 37.54 baht and Gasohol 91 at 35.04 baht per litre.
E20 is at 34.14 baht, while E85 at 22.22 baht per litre.
High-speed diesel remains at 29.99 baht per litre.
Meanwhile, Caltex, a private oil retailer in Thailand, have announced an
increase in its retail prices of benzene and diesel by 40 satang per litre since
Friday morning.
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OIE: April MPI drops 7.81% due to Japanese disasters
BANGKOK, 27 May 2011 (NNT) – According to the Office of
Industrial Economics (OIE), the previous natural disasters in Japan have caused
the Thai Manufacturing Production Index (MPI) for April 2011 to decline by 7.81
percent.
As a consequence of the deadly earthquake and tsunami that hit Japan in March,
OIE Director Suttinee Poopaka indicated that the MPI for April this year had
declined by 7.81 percent from the same month last year to stand at 165.89 with
the Capacity Utilization Rate of 54.6 percent. Industries which contributed to
the decrease include the automotive, hard disk drive and food industries.
Ms Suttinee pointed out that car production and sales had dropped 27.8 percent
and 17.2 percent, respectively, mainly because Japanese companies producing car
parts had been damaged by the disasters and had difficulties meeting Thailand’s
orders. Some of the companies could only operate for 17 days in April.
Meanwhile, Thailand’s production of hard disk drives decreased by 16.8 percent
while sales dropped 13.3 percent on account of the shrinking demand and the
debut of new computer models. As for the food industry, the production and sales
also contracted by 4.6 percent and 6.6 percent, respectively, due largely to the
flooding in the southern region.
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Philippines, Thailand agree to boost trade and investment cooperation
BANGKOK, May 27 – The Philippines and Thailand agreed
Thursday to boost their bilateral trade and investment cooperation, according to
Thai Prime Minister Abhisit Vejjajiva.
 Speaking
after the bilateral talks with visiting Philippine President Benigno Aquino III,
Mr Abhisit said he and the Philippine leader were satisfied with the discussion
in which a progress in the cooperation in various areas, particularly the trade
and investment, made in the discussion.
He said Manila promised to reduce trade barriers, which would lead to an
increase in the value of trade between the two countries.
Mr Abhisit said both countries also agreed to hold the first meeting of their
Joint Trade Committee to discuss ways to promote trade and investment and cope
with various obstructions.
But a schedule of the meeting had yet to be set.
They also proposed holding a meeting of the Joint Committee on Bilateral
Cooperation between Thailand and the Philippines to oversee bilateral ties and
cooperation in areas such as establishing a joint committee on energy and
education.
Other issues raised at the meeting included approaches against human
trafficking, and countering terrorism, transnational crime, and narcotics
smuggling, he said. (MCOT online news)
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PTT, Thailand's largest oil firm, selects new CEO
BANGKOK, May 27 - Thailand's largest oil firm, PTT, on Friday
announced the selection of IRPC President Pailin Chuchottaworn as its new chief
executive officer and president of the oil and gas conglomerate, replacing
outgoing CEO Prasert Bunsumpun whose term expires in September.
 Naris
Chaiyasoot, PTT's acting chairman, said the company's board of directors agreed
to appoint the IRPC president to the top job of the country's oil largest firm.
IRPC is a producer of integrated petrochemical products. The current PTT CEO's
term will end Sept 9 and the appointment of the new president will take effect
the following day, with a four-year term, according to Mr Naris.
Mr Naris also reaffirmed the transparency of the selection process under the
regulations of selection process for senior executive position of the state
entreprises.
The acting chairman said Mr Pailin was chosen for his outstanding experience and
far-sighted vision in the petroleum industry with its many fluctuations.
Mr Pailin also has good knowledge on engineering field and has good
communication skills with both within and outside the organisation, explained Mr
Naris.
Although he assumes the post in PTT Plc, Mr Pailin will also remain acting chair
of IRPC Plc.
IRPC or Integrate Refinery Petrochemical Complex, formerly Thai Petrochemical
Industry, TPI, and its subsidiaries are currently the first fully integrated
petrochemical complex in Southeast Asia. IRPC’s plants are located in an
industrial area in Rayong Province with facilities to support the businesses
such as deep sea port, tank farm and power plant.
Krairit Nilkuha, chairman of the new CEO's selection committee, asserted there
was no political interference in the selection.
Mr Prasert, the current PTT president, welcomed the new ceo-selected, saying he
would relegate workload to Mr Pailin so that the newcomer will have chance to
learn more about the company in the next three months prior to the end of his
term.
PTT, formerly known as the Petroleum Authority of Thailand, was established in
1978 for its primary mission in expediting to procure adequate oil for domestic
consumption and has been privatised in 2001, with an initial registered capital
of Bt20 billion and having the Ministry of Finance as the largest shareholder.
Shares of PTT closed on Friday at Bt354, up Bt2 on the Stock Exchange of
Thailand (SET) in trade worth Bt788.02 million. (MCOT online news)
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Thailand's Commerce Ministry raises its export growth estimate
BANGKOK, May 27 – Thailand's Ministry of Commerce has raised
its export growth estimate this year to 15-16 per cent from the 12 per cent
targeted earlier, and is hoping to encourage trade representatives to expand
trade in countries worldwide.
 The
upward revision of the export growth projection was made following a meeting of
Commerce Minister Pornthiva Nakasai with 48 overseas trade representatives and
65 commercial counselors on Thursday to assess the overall picture of Thailand’s
exports in the second half of this year.
To achieve the new export target, Mrs Pornthiva said, the ministry wanted trade
representatives working in Thailand and overseas to help enhance trade channels
in the countries around the world.
“Listening to the assessment of the situation by overseas trade representatives,
who are familiar with markets in the countries where they work, we think it is a
good opportunity now for Thailand to position more products in the market of
each country.
“More importantly, many trade representatives affirm the new target of the
export growth at no less than 15 per cent set by the ministry will be definitely
achieved,” she said. (MCOT online news)
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Thai commercial counselors abroad urged to speed up expanding trade
BANGKOK, May 26 – Commerce Minister Porntiva Nakasai on
Wednesday announced she had instructed 63 commercial counselors posted to
embassies and consulates abroad to speed up their marketing activities to expand
trade in both existing and new markets to ensure Thailand's exports grow no less
than 15 per cent as targeted this year.
 Speaking
after delivering a policy statement to the assembled counselors in Bangkok, she
said should all parties cooperate to do that, and the US and European markets
recover in the second half of this year, exports this year might grow more than
15 per cent. The ministry will continue to closely monitor exports to targeted
countries, she added.
Another ministry source said Mrs Porntiva will announce the upward revision of
the export growth estimate to 15-16 per cent this year after presiding over the
THAIFEX-World of Food Asia Exhibition at Muangthong Thani Trade Exhibition
Center.
The International Trade Promotion Office revised its estimate of export growth
in East Asia and Oceania (Japan, South Korea, and Australia) upward to US$36.7
billion or 10 per cent from 8 per cent of the total export value.
It forecast exports to the Middle East this year would reach $10.8 billion or 12
per cent of the total export value, not 7 per cent as targeted earlier.
The Middle East is seen as a major Thai export destination because there are 15
countries in the region with a combined population of 275 million and gross
domestic product growth of 3.8 per cent.
Many oil-rich countries, particularly those in the Gulf Cooperation Council --
including Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain
-- are situated there. (MCOT online news)
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Exports likely to grow over 15%
BANGKOK, 26 May 2011 (NNT) – Thai exports in 2011 are anticipated to expand
more than 15% compared to the previous estimate of 12-15%, following the
global food crisis, according to Commerce Minister Pornthiva Nakasai.
 Ms
Pornthiva said the growth adjustment is due to a higher demand necessitated
by the global food crisis, which has driven product prices up significantly.
She expected that the Thai food exports this year would grow 11%, instead of
8% as estimated earlier.
Moreover, the minister has also instructed directors of Thailand’s
international trade promotion offices worldwide to take offensive campaigns
in penetrating foreign markets, especially China, India, Latin America and
Russia, which have high potential and demand, in order to meet the growth
target.
Regarding impacts from the twin natural disasters and nuclear power plant
crisis in Japan, Ms Pornthiva said although Thai food exports to Japan
received a windfall gain from the situation, effects from the contraction in
other export groups such as auto parts, must still be assessed.
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Thai rice export remains the wolrd´s largest despite risks
BANGKOK, 26 May 2011 (NNT)-The President of Thai Rice
Exporters Ms. Kobsuk Iamsuree has disclosed several risks to rice exporters in
Thailand for this year while expressing her confidence that Thailand will remain
the world’s largest rice exporter.
According to Ms. Kobsuk, risks could be from the fluctuation of currencies,
especially in major buyers such as China and Bangladesh which could prompt the
price of rice to hike. The President also adds that rice farmers have now turned
to growing crops used in producing alternative energy since climate change has
made it difficult to grow rice and prompted the production to decline.
She is confident that Thailand will be able to export no less that 8-10 million
tons of rice. Any amount less than that could become a problem.
Number of European tourists up 18%
BANGKOK, 26 May 2011 (NNT) – The number of European
travellers visiting Thailand during the first four months of 2011 increased by
18% year-on-year, according to the Tourism Authority of Thailand (TAT).
 TAT
Deputy Governor Chuthaporn Roengronasa reported that the majority of the
European tourists were Russian, accounting for 40% of the total figure. The
number of travellers from the Middle East also grew by 2-3% in the first three
months of this year despite their political unrest.
The deputy governor expected that the number of foreign tourists would reach 6.8
million people in total for the first and second quarters of this year.
Regarding impacts from the Grimsvotn volcano eruption in Iceland, Ms Chuthaporn
said over 500 flights, especially short-haul ones across the region have been
cancelled thus far, but long-haul flights have not been affected from the
phenomenon yet.
Thai commercial counselors abroad urged to speed up expanding trade
BANGKOK, May 26 – Commerce Minister Porntiva Nakasai on
Wednesday announced she had instructed 63 commercial counselors posted to
embassies and consulates abroad to speed up their marketing activities to expand
trade in both existing and new markets to ensure Thailand's exports grow no less
than 15 per cent as targeted this year.
 Speaking
after delivering a policy statement to the assembled counselors in Bangkok, she
said should all parties cooperate to do that, and the US and European markets
recover in the second half of this year, exports this year might grow more than
15 per cent. The ministry will continue to closely monitor exports to targeted
countries, she added.
Another ministry source said Mrs Porntiva will announce the upward revision of
the export growth estimate to 15-16 per cent this year after presiding over the
THAIFEX-World of Food Asia Exhibition at Muangthong Thani Trade Exhibition
Center.
The International Trade Promotion Office revised its estimate of export growth
in East Asia and Oceania (Japan, South Korea, and Australia) upward to US$36.7
billion or 10 per cent from 8 per cent of the total export value.
It forecast exports to the Middle East this year would reach $10.8 billion or 12
per cent of the total export value, not 7 per cent as targeted earlier.
The Middle East is seen as a major Thai export destination because there are 15
countries in the region with a combined population of 275 million and gross
domestic product growth of 3.8 per cent.
Many oil-rich countries, particularly those in the Gulf Cooperation Council --
including Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain
-- are situated there. (MCOT online news)
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