PTTEP starts bidding war for Cove Energy

With the oil sector poised for a recovery, Thai Oil priced a benchmark bond inside its own curve, even as markets crumbled during bookbuilding.

The oil and gas group agrees to pay $3 billion to acquire a majority stake in the independent power producer from France’s Engie, potentially rising to $4.3 billion.

Benjarong Suwankiri, a former vice minister for finance, will join Thailand's exchange in October.

PTTEP prices Thailand’s largest corporate bond since 1997, ending the country’s three-year absence from the bond markets.

The reforms for Thai and foreign firms are aimed at 10 industry groups, including advanced healthcare, next-generation automotive and smart electronics.

Shell’s $1.8bn sale of Sprng Energy to a BlackRock-backed Aditya Birla unit highlights a growing strategic divergence as European majors recycle capital while Asian conglomerates aggressively scale their clean energy portfolios.