Thailand's PTTPC keen to bid for 40% stake in Petron bidding

07-Jul-08
Thai oil firm PTT Philippines Corporation (PTTPC) is keen to join the bidding process for the balance 40% share of state-run Philippine National Oil Company (PNOC) in Petron Corporation, when the government decides to place it on auction. The company has met with thwarted efforts to conduct its own due diligence and valuation of the assets based on the outcome of that process. PTT has been enthusiastic about expanding its investment portfolio in the Philippines including the downstream oil industry, petrochemicals sector and even in the construction of the country's high-pressure gas pipelines.
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