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    PTT   TH0646010Z00

PTT

(PTT)
  Report
End-of-day quote. End-of-day quote Stock Exchange of Thailand - 05/14
40.25 THB   +0.63%
05/14PTT  : first quarter 2021 results were adjusted by petrochemicals and refining.
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04/20PTT  : Thailand's PTT Global says crackers resume normal operations
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04/19PTT invests in Lotus
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Petroecuador asks Asian clients to show no ties with Gunvor case

04/16/2021 | 03:39pm EDT

QUITO, April 16 (Reuters) - Ecuador's state oil company Petroecuador has asked three of its Asian clients to demonstrate that they were not involved in a bribery scheme linked to commodities trading house Gunvor Group, according to documents seen by Reuters on Friday.

The requests come after a former Gunvor employee early this month pleaded guilty to U.S. charges of bribing Ecuadorean officials to win business with the company. Petroecuador nixed Gunvor from its list of authorized suppliers in response.

In the letters dated April 7, Petroecuador asked China's Unipec Asia and Petrochina International, as well as Thailand's PTT International Trading, to produce affidavits confirming that the companies and their employees "did not have anything to do with the possible acts of corruption" involving Geneva-based Gunvor.

"Until the company sends the requested information, they will not be invited to participate in the international tenders for the purchase and sale of hydrocarbons conducted by this public company's international trade division," all three letters read.

Unipec, Petrochina and PTT are among Petroecuador's largest customers, having signed long-term crude supply contracts tied to loans granted to former President Rafael Correa's government.

In the letters, Petroecuador said that the Gunvor's alleged bribe payments to Ecuadorean officials were made "in exchange for contracts signed by Petroecuador with Asian companies," without providing further details.

A Petroecuador spokesman said the company had received a response from Petrochina. In an April 13 letter seen by Reuters, Petrochina told Petroecuador it had no involvement with the alleged bribe payments and no corporate relationship with Gunvor.

Neither Petrochina's parent company Petrochina Co ltd , Unipec's parent company Sinopec or PTT's parent company PTT PCL immediately responded to requests for comment from Reuters sent after business hours in China and Thailand on Friday. (Reporting by Alexandra Valencia in Quito Writing by Luc Cohen Editing by Marguerita Choy)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 2.73% 68.82 Delayed Quote.29.59%
PTT 0.63% 40.25 End-of-day quote.-5.29%
WTI 2.59% 65.462 Delayed Quote.32.44%
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Financials
Sales 2021 2 085 B 66 509 M 66 509 M
Net income 2021 95 252 M 3 038 M 3 038 M
Net Debt 2021 397 B 12 657 M 12 657 M
P/E ratio 2021 12,3x
Yield 2021 4,00%
Capitalization 1 150 B 36 655 M 36 672 M
EV / Sales 2021 0,74x
EV / Sales 2022 0,65x
Nbr of Employees -
Free-Float 71,7%
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Technical analysis trends PTT
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 21
Average target price 50,24 THB
Last Close Price 40,25 THB
Spread / Highest target 49,1%
Spread / Average Target 24,8%
Spread / Lowest Target -0,62%
EPS Revisions
Managers and Directors
NameTitle
Auttapol Rerkpiboon President, CEO, Secretary & Director
Pannalin Mahawongtikul Chief Financial Officer
Thosaporn Sirisumphand Chairman
Wittawat Svasti-xuto Chief Technology & Engineering Officer
Atikom Terbsiri Chief Operating Officer
Sector and Competitors
1st jan.Capitalization (M$)
PTT-5.29%36 655
EXXON MOBIL CORPORATION47.43%257 272
CHEVRON CORPORATION29.63%211 065
RELIANCE INDUSTRIES LTD-2.42%179 082
BP PLC23.10%89 325
CHINA PETROLEUM & CHEMICAL CORPORATION16.14%78 407