IRPC Posts 2.92 Billion Baht Profit as Q2 Oil Markets Roil
IRPC reported 2.92 billion baht Q2 profit, down 63% from the previous quarter due to volatile crude markets and geopolitical tensions, while expanding into solar energy with a planned 98-megawatt facility in Songkhla.
IRPC announced Q2 2025 net profit of 2.921 billion baht, down 4.968 billion baht or 63% from Q1, though first-half EBITDA reached 18.819 billion baht, up 17 billion baht year-on-year. Executive Chairman Thedkiatti Prommoola said the quarter's results reflected volatile crude markets and Middle East geopolitical risks that drove prices higher, offsetting inventory losses and hedging costs. The company is advancing its Recapitalize Plus strategy and expanding into clean energy, including a 98-megawatt solar project in Songkhla developed with GPSC, scheduled to begin commercial operations in December 2026 and representing a major step toward asset diversification and PTT Group's Net Zero goals.
