Bangkok, Thailand: PTT Public Co. Ltd. (PTTPCL) considers the Philippines as a significant market to help strengthen its global positioning.
Thitiroj Regsumran, PTT international marketing department senior manager, said the Philippines would play an important role in the group’s goal of becoming Asia’s premier multinational energy and petrochemical company.
“The Philippines is a significant market for PTT considering its high economic development and population growth,” he told reporters in a briefing at the company’s headquarters in Bangkok, Thailand.
The PTTPCL is Thailand’s largest energy and petrochemical group with affiliated companies PTT Exploration and Production, PTT Global Chemical, PTT Asia Pacific Mining, and PTT Green Energy.
Regsumran said the PTT group currently has four international units for its oil business. These are located in Myanmar, Laos, Cambodia, and the Philippines. Among the four countries, the Philippines is the biggest in terms of distribution channel.
PTT’s oil business in the Philippines, he added, continues to have a significant impact in the overall operation of the whole PTT Group.
Although its international oil units are just starting to contribute to the PTT Group’s overall profit, Regsumren said the thrust is to eventually make them as major income contributors.
Vittaya Viboonterawud, PTT Philippines Corporation’s public relations manager, said the firm has petroleum facilities in Subic, Zambales and in Cebu. Currently, it has 73 retail stations all over the country.
The company’s import terminal in Subic has 900 million tons per annum capacity.
Viboonterawud said that PTT has an impact on the Philippine economy in terms of investments and employment. He said the firm is planning to pour P1 billion worth of investments to expand its operations in the country.
“We are targeting to increase our retail stations to 140 in the next five years,” he added.
With the expansion program, Viboonterawud said more jobs would be created for Filipino workers.
He said that the group’s lube subsidiary, the Thai Lube Blending Company, is also planning to expand the distributorship of its lubricant products in the country.
The company annually supplies an average of 1 million liters of various lubricant products in the Philippines.
The PTT group is also exploring other business opportunities, like putting up a petrochemical and liquefied natural gas (LNG) plants in the Philippines, Viboonterawud said.
“We have sent people to study if it is feasible to have a LNG plant in the Philippines. There is also a study exploring opportunities for petrochemical business in the country,” he added.
At present, the PTT Global Chemical’s Asian operations has a combined chemical/petrochemical capacity of 8.72 million tons per year, including 2.7 million tons in olefins capacity, 2.4 million tons in aromatics capacity, and 2 million tons in polymer capacity.
It has a crude oil/condensate distillation capacity of 280,000 barrels per day.
PTT produces and distributes eleochemicals and provides polymer logistical services, public utility systems, maintenance and engineering services, and technical engineering services.
Meanwhile, Viboonterawud opined that the Asean (Association of Southeast Asian Nations) integration in January 2015 would not cause any significant impact to the petroleum industry.
PTT Group, a publicly listed company with the Thai government as its largest shareholder, is currently the biggest energy and petrochemical company in Thailand.
It has upstream, intermediate and downstream operations that touch on various business portfolios such as oil and gas, petrochemical, refining, palm plantation, coal mining, among others.