PTT Oil and Retail eyes regional leadership amid energy transition

FRIDAY, JANUARY 31, 2025
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THB60 billion earmarked for its five-year strategic plan

 

PTT Oil and Retail Business (PTTOR), Thailand's state-owned oil and retail giant, is set to strengthen its position as a regional oil hub under the leadership of its newly appointed chief executive officer, ML Peekthong Thongyai.

 

In his first media briefing on Friday since taking the helm, Peekthong outlined an ambitious strategy to boost the company's market share by 2-3% by 2025, whilst maintaining growth levels of 38% similar to 2023. The plan leverages Thailand's strategic geographic position and existing infrastructure to expand PTTOR's presence across ASEAN.

 

"Thailand is being viewed as a key centre for the oil industry in the region. This status is being supported by plans to utilise the existing infrastructure, such as roads and pipelines, to facilitate expansion into neighbouring countries. As a result, Thailand is poised to become a highly effective oil service centre for the region," Peekthong said.

 

ML Peekthong Thongyai

 

The company has earmarked 60 billion baht for its five-year strategic plan, with 19 billion baht allocated for 2024.

 

This year's investment will be distributed across four core business pillars, with 7.6 billion baht designated for mobility and 7.3 billion baht for lifestyle initiatives, while the remainder will fund global expansion and innovative ventures.

 

Cambodia has been identified as a priority market for international expansion, building upon PTTOR's existing service station network in the country. 

 

"The potential new businesses should meet our key demand which are big in proper size, scalability, synergy with OR resources and have some common vision that OR can offer," Peekthong explained.
 

 

The strategy encompasses three core missions: seamless mobility, all lifestyles, and global market.

 

PTT Oil and Retail eyes regional leadership amid energy transition

 

Under seamless mobility, PTTOR aims to solidify its leadership in the oil industry while transitioning to alternative energy sources, such as EV Station PluZ and solar energy solutions.

 

The all lifestyles mission focuses on strengthening Café Amazon and exploring investment opportunities in the food and beverage and health and wellness sectors.  

 

PTT Oil and Retail eyes regional leadership amid energy transition

 

The global market mission prioritises investments in high-potential international markets.

 

"In an era marked by rapid change and challenges, organisational success must come from building internal strength, while simultaneously driving growth across all dimensions — business, society, and the environment. The key is to adopt the business philosophy of 'They grow, We grow,'" said Peekthong.

 

He emphasised that the business philosophy of “They grow, We grow" will cultivate trust and foster open communication through initiatives like the “CEO on tour” project. 

 

"This will allow us to engage with all stakeholders, including government agencies, employees, partners, investors, and the media,” he said.

 

PTT Oil and Retail eyes regional leadership amid energy transition

 

He reaffirmed his commitment to the vision of "Empowering All toward Inclusive Growth" and the continued evolution of OR's SDG-driven initiatives, focusing on supporting small entrepreneurs, diversifying investments, and promoting environmental sustainability.

 

The company has committed to achieving carbon neutrality by 2030 and net zero by 2050.
 

 

To enhance operational efficiency, digitalisation and innovation are key drivers of PTTOR's business strategy.

 

PTT Oil and Retail eyes regional leadership amid energy transition

 

PTTOR has become the first Southeast Asian company in the oil and retail sector to implement the SAP S/4 HANA system, alongside developing a control tower dashboard for optimised management decision-making.

 

The comprehensive strategy reflects PTTOR's ambition to transform from a traditional oil and retail business into a regional leader in the evolving energy landscape, while maintaining its commitment to sustainable and inclusive growth.

 

PTT Oil and Retail eyes regional leadership amid energy transition

 

 "We must improve and transform ourselves. By leveraging all our resources and harnessing the skills of our workforce, we can provide the most cost-effective and efficient services to the Thai people," Peekthong said.