KGI Securities Thailand expects Banpu's third-quarter 2026 profit to decline quarter-on-quarter, as average coal selling prices fell in line with Newcastle coal prices, while coal costs in Indonesia are likely to rise due to higher fuel prices, pressuring mining and transportation costs. Meanwhile, BKV, in which Banpu holds 72.6% through Banpu North America Corporation and Banpu Power US Corporation, has begun commercial operations at two carbon capture and storage projects, Cotton Cove and Eagle Ford. Cotton Cove is expected to store about 32,000 tonnes of carbon dioxide per year, while Eagle Ford is expected to store about 90,000 tonnes per year. BKV currently has three operating CCS projects and targets carbon dioxide storage capacity of 1.5 million tonnes per year by 2028. KGI maintains a hold rating on Banpu, with a mid-2027 target price of 15.40 baht. Banpu has announced an interim dividend of 0.40 baht per share, with the stock trading ex-dividend on 11 September, representing a dividend yield of 2.8%.
Banpu Public Company LimitedKGI expects Q3 2026 profit to decline due to lower coal selling prices and higher Indonesian coal costs.
BKV CorporationBKV begins commercial operations at two CCS projects, expanding its carbon capture capacity.
