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Thai oil retailer PTT looks to become region leader with $295M investment

Thai state-owned oil and gas conglomerate PTT Plc is planning a $295 million investment to renovate and expand their petroleum retailing business in Thailand and neighbouring Asian countries, according to reports from the Bangkok Post.



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With this five-year plan PPT hopes to become one of Asia’s top retailers, according to Buranin Rattanasombat, the company’s executive vice-president.  Most of the financing will be dedicated to expanding their gas station development in the local market and in neighbouring countries.

Foreign investment expansion includes increasing the number of gas stations in Laos from 24 to 62, in Cambodia from 20 to 65, and in the Philippines to 150 from 85.

Apart from these countries where the state-owned oil company is already present, PTT is awaiting the opening of the petroleum retailing market in Indonesia, Malaysia, Myanmar, Taiwan and South Korea.

In the local Thai market, PTT is looking to invest in relocation and renovations of their gas stations. "As the economy sags and oil prices decline we are looking to revamp our internal business in order to improve services and products. That way when the economy rebounds we will be ready," said Mr Buranin in a statement to the Bangkok Post.

PPT is also the owner of Cafe Amazon, the successful coffee shop operating in Thailand, Cambodia and Laos; and will be opening 250 new stores this year, forming a total of 1,400 branches.

It was reported on June 26 by Reuters that PPT appointed Tevin Vongvanich, former head of subsidiary PTT Exploration and Production, as the new CEO of the state-owned energy company.

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