FRIDAY, March 29, 2024
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PTTEP's algerian field begins producing

The Bir Seba petroleum field in the Algeria 433a & 416b project has started yielding oil, underscoring the first production project of PTT Exploration and Production on the African continent.

The field has already achieved production of about 20,000 barrels per day, corresponding to the nominal capacity of its central processing facilities.

PTTEP anticipates the commercial sale of crude oil from Bir Seba this year, Somporn Vongvuthipornchai, president and chief executive officer, said yesterday.

 

Telecom auctions

The National Broadcasting and Telecommunications Commission has reconfirmed the transparency of the auctions of 1,800MHz and 900MHz telecom licences next month.

Some parties are worried about possible price rigging by bidders.

Takorn Takorn, secretary-general of the NBTC, said yesterday that if a conspiracy to fix prices is detected, the NBTC will immediately abort the auctions and take legal action against the conspirators. It will also consider them unqualified to continue holding their existing licences.

BRICS, EAEU COORDINATION

Russian Industry and Trade Minister Denis Manturov proposed to establish and enhance economic coordination between the BRICS countries (Brazil, Russia, India, China and South Africa) and the Eurasian Economic Union (EAEU) at a recent summit in Moscow.

He also said he sought to enhance economic links with Southeast Asian markets, including Thailand.

The Russian Trade Ministry seeks to reduce barriers between BRICS and EAEU nations, boost mutual trade, increase investment and develop new industrial projects.

Eureka enables member countries to embark on joint projects with non-member countries, so countries such as Thailand, Singapore, Egypt, Brazil, Argentina and Mexico have become indirectly involved in the programme.

Two appointed to SET

The Securities and Exchange Commission board has appointed Chaiyawat Wibulswasdi and Voravan Tarapoom to the Stock Exchange of Thailand’s board of governors.

The new board members will take office for a two-year term from today until to October 27, 2017.

Land-lease renewal

PTT has settled a land-lease deal with the State Railway of Thailand (SRT), agreeing to pay Bt1.3 billion for the 30-year renewal contract.

The lease contract for the land, the location of PTT’s headquarters, expired on March 31, 2013. Under the new deal, the contract will end in 2043. .

Ex-Thai PBS director sues

Somchai Suwanban, former director of the Thai Public Broadcasting Service, yesterday filed a lawsuit with the Central Administrative Court against Thai PBS, its board of governors, and the board chairman, over their allegedly unfair termination of his contract on October 9.

The lawsuit also demands compensation from them.

StanChart loses case

The Civil Court yesterday cleared the Small and Medium Enterprise Development Bank of Thailand from a lawsuit filed by Standard Chartered (Thai) Bank.

StanChart had called for damages worth more than Bt6 billion under contracts for currency and interest-rate swaps for floating rate convertible debentures (FRCDs) issued for SME Bank.

The lawsuit was filed in 2008.

Sale of new cars to rise

The Federation of Thai Industries’ Automotive Industry Club forecasts a 5-per-cent rise in the sale of new cars next year, said Surapong Paisitpattanapong, spokesman for the club.

For the first nine months of this year, Thailand’s car exports to Europe jumped 72 per cent and to the US 93 per cent. Car exports are estimated to reach 1.2 million units for the whole year.

GLOBAL CODE FOR FISH SAUCE

Thailand has successfully pushed for approval of the Code of Practice for Processing of Fish Sauce by the Codex Alimentarius commission on aquaculture, and the government is convinced this will help increase Thai fish sauce annual exports by Bt1.55 billion.

Doojduan Sasanavin, secretary-general of the National Bureau of Agricultural Commodity and Food Standards, said yesterday that the code, approved on Saturday, covers the standards of raw materials, processing and distribution of fish sauce. Thai manufacturers can comply with all. Thailand reaped Bt1.56 billion or 70 per cent of the global fish sauce trade, and sales are on the rise in line with Thai cuisine’s popularity.

don mueang work on track

Airports of Thailand has accelerated its expansion projects for Don Mueang International Airport to relieve congestion and facilitate passengers, President Nitinai Sirismatthakarn said yesterday.

About 90 per cent of Don Mueang’s development projects have been completed and those involving the main structure would be finished by November 30. Its annual capacity will be raised from 18.5 million passengers to 30 million passengers.

Superblock shareholders warned

The Securities and Exchange Commission (SEC) yesterday urged shareholders of Superblock to thoroughly study the company’s solar cell power plant investment project before voting on it at their extraordinary meeting on Friday.

The company is seeking their approval to allow its indirectly wholly-owned subsidiary Super Solar Energy to enter into five major transactions worth Bt14.44 billion, mostly related to development of solar farms, according to the SEC’s release.

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