PTT Plc, the national oil and gas conglomerate, is adjusting its business operations as it seeks to gain more revenue and prevent inventory losses after global oil prices hit another long-time low.
The announcement to revamp all operations was made in response to falling oil prices as Dubai crude, a reference for the Asian market, fell to US$43.24 a barrel, its lowest in six years.
Petrochemical PTT Global Chemical Plc (PTTGC) plans to buy back 90 million shares or 2% of its treasury stock.
The company will start buying back shares via the Stock Exchange of Thailand within six months, starting on Sept 8 and concluding March 7.
PTT Plc, the national oil and gas conglomerate, is adjusting its business operations as it seeks to gain more revenue and prevent inventory losses after global oil prices hit another long-time low.The announcement to revamp all operations was made in response to falling oil prices as Dubai crude, a reference for the Asian market, fell to US$43.24 a barrel, its lowest in six years. Petrochemical PTT Global Chemical Plc (PTTGC) plans to buy back 90 million shares or 2% of its treasury stock. The company will start buying back shares via the Stock Exchange of Thailand within six months, starting on Sept 8 and concluding March 7.
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