New PTT chief Tevin urged to tackle NGOs’ ‘misinformation’

New PTT chief Tevin urged to tackle NGOs’ ‘misinformation’

The major task of PTT Plc's new chief executive is to improve the image of the oil and gas conglomerate after attacks by non-governmental organisations (NGOs), says chairman Piyasvasti Amranand.

Tevin Vongvanich

He said NGOs had been running defamatory campaigns against PTT since 2012 via social media by releasing data about energy, particularly when subsidies were implemented after global oil prices surged above US$100 a barrel.

Such information had led to misunderstanding and caused delays to major projects that should already have been completed.

"There are a lot of followers who did not study the complicated structure of energy prices and subsidies as well as the levy collection to the state Oil Fund, taxes and the structure of the upstream petroleum business. They believed the campaigns were true, so this should be fixed," Mr Piyasvasti said.

The campaigns have delayed licensing for the 21st round of oil and gas exploration since 2008, he said.

Tevin Vongvanich was approved yesterday by PTT's board to become chief executive on Sept 10, replacing the retiring Pailin Chuchottaworn.

"He was selected based on experience — his work over the last two or three decades was good enough to win this position," Mr Piyasvasti said.

Other PTT executives due to retire are Sarakorn Kulatham, a senior executive vice-president in the petrochemicals and refining business group; Charcrie Buranakanonda, a senior executive vice-president in the gas business group;​​ Surong Bulakul, chief operating officer for infrastructure​; Nuttachat Charuchinda, chief operating officer for upstream petroleum and gas business;​ and Pramin Phantawesak, also a senior executive vice-president in the petrochemicals and refining business group.

Mr Piyasvasti said Mr Tevin's job would be to clarify the truth about the company and reassure those who believed the half-truths of NGOs. Misunderstandings have led to project delays and wasted opportunities including gas pipeline development and restructuring of cooking gas prices.

Another priority for Mr Tevin will be to revise PTT's capital expenditure to match the current circumstances of collapsing global oil prices at a time when the economy remains weak.

"Some projects may not be viable," Mr Piyasvasti said.

He said revision of the company's business plan should foster efficiency.

Mr Piyasvasti said its new team of executives would be assigned to its 20-year business plan to meet the fast-changing global economy and technologies such as electrical vehicle and renewable energy.

"PTT has been growing very fast and needs a long-term business plan and direction," he added.

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