PTT starts investigating Rolls-Royce Bribery, targets to report to board of committee next week

Energy Press Releases Monday January 23, 2017 11:41
Bangkok--23 Jan--PTT

Tevin Vongvanich, President and Chief Executive Officer, PTT Public Company Limited, revealed that an investigation committee has been set up. It is initially consisted of senior management who has not involved in project procurement associated with Rolls-Royce's engines, in order to have to process continues transparently under corporate governance guidelines.

The committee is now accelerating in gathering information about operation, process and persons responsible for the projects. In the meantime, PTT will invite representatives from Siemens, who has acquired Rolls-Royce's business in late 2014, to ask for more information relating to the documents released by the U.S. Department of Justice.

"PTT will verify the procurement process seriously and carefully. We will report the initial investigation summary to the board of committee next week. If violation is found, PTT will proceed on related regulations and legal action," Tevin concluded


Latest Press Release

Photo Release: PTT Group joined Petroleum Refining Industry Club of F.T.I. Forecast 2019 Oil Price

Mr. Chansin Treenuchagron, President and Chief Executive Officer of PTT Public Company Limited (center), presided over the opening ceremony of 2018 The Annual Petroleum Outlook Forum: "Future Energy Moving Together". The Petrochemicals and Refining...

GW Electric Installs first Premolded Dry Type Outdoor Terminations in Asia-Pacific Region and United States

G&W Electric recently installed the first 138kV Python(R) single-piece, premolded dry type outdoor terminations in Malaysia, Philippines and Ansonia, CT. To meet the growing demand for regional grid efficiency and modernization, the 138kV Python...

PTT Group and Petroleum Refining Industry Club of F.T.I. Forecast Oil Price of 2019

Petrochemicals and Refining Integrated Synergy Management (PRISM) and Petroleum Refining Industry Club of Federation of Thai Industries forecasted that Dubai crude oil price in 2019 would be around 70 – 80 USD/bbl. Factors that should be closely...

WHAUP and ZF Lemforder Sign the agreement to Install Solar Rooftop

WHA Utilities & Power PLC received an agreement from ZF Lemforder (Thailand) Co., Ltd. to install Solar Rooftop on ZF's factory at Eastern Seaboard Industrial Estate (Rayong) with a capacity of 0.8 MW. Mr. Thinus Steyn (middle right), Head of Region...

Seraphim Solar Secures 80 MW Supply Agreement in Vietnam

Jiangsu Seraphim Solar System Co., Ltd. ("Seraphim") recently signed new landmark supply agreements for two separate PV projects totaling 80MW in Vietnam. The Solar farms are a joint venture project of AMI Renewables of Vietnam and AC Energy of the...

Related Topics