PTT has cut its investment target by 28 per cent for 2015. This reassessment in investments is largely because of declining oil prices and losses incurred on account of fuel subsidies. PTT has cut 2015 investment to 55.66 billion baht from 77.28 billion baht in March 2015. Earlier, in December 2014, it had planned to invest 85.5 billion baht ($2.53 billion) in 2015. The company has also divested 50 per cent of its shares in PTT Polymer Logistics Company Limited worth 707 million baht. PTT is the Asia-Pacific’s sixth biggest oil and gas company by market value; its market value is estimated at $31 billion.
