PTT Oil and Retail Sets Ambitious Regional Leadership Goals Amid Energy Transition
PTTOR allocates THB60 billion for a five-year strategic plan focused on market expansion, sustainability, and innovation.
PTT Oil and Retail Business (PTTOR), the state-owned oil and retail giant of Thailand, is positioning itself to become a key regional player in the evolving energy sector under the leadership of newly appointed CEO ML Peekthong Thongyai.
In his first media briefing since assuming the role, Peekthong outlined a strategic vision aimed at increasing the company's market share by 2-3% by 2025, while maintaining growth levels of 38%, similar to its performance in 2023. This plan leverages Thailand's strategic location and established infrastructure to expand PTTOR's presence throughout the ASEAN region.
"Thailand is being viewed as a key center for the oil industry in the region.
This status is supported by plans to utilize existing infrastructure, such as roads and pipelines, to facilitate expansion into neighboring countries.
As a result, Thailand is poised to become a highly effective oil service center for the region," said Peekthong during his briefing.
To achieve these ambitious goals, PTTOR has earmarked 60 billion baht for its five-year strategy, with 19 billion baht allocated for investment in 2024. This year's investments are set to be distributed across four core business pillars: 7.6 billion baht for mobility initiatives, 7.3 billion baht for lifestyle projects, with the remaining funds directed towards global expansion and innovative ventures.
Cambodia has been identified as a priority market for international expansion, building upon PTTOR's existing network of service stations in the country.
The company plans to focus on large-scale, scalable projects that align with PTTOR's resources and vision for growth.
"The potential new businesses should meet our key demand, which are big in proper size, scalability, synergy with OR resources, and share a common vision that OR can offer," Peekthong explained.
The company's strategy centers around three primary missions: seamless mobility, all lifestyles, and global market expansion.
Under the seamless mobility mission, PTTOR seeks to strengthen its position in the traditional oil industry while transitioning to alternative energy sources, such as electric vehicle (EV) charging stations and solar energy solutions.
The all lifestyles mission focuses on bolstering the Café Amazon brand and exploring opportunities in the food and beverage, as well as health and wellness sectors.
The global market mission is dedicated to strategic investments in high-potential international markets.
"In an era marked by rapid change and challenges, organizational 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, emphasizing the importance of trust and open communication with all stakeholders.
He reaffirmed PTTOR's commitment to inclusive growth, aligning with the company's vision of "Empowering All toward Inclusive Growth" and its ongoing SDG-driven initiatives.
These include supporting small entrepreneurs, diversifying investments, and advancing environmental sustainability.
PTTOR has also set goals to achieve carbon neutrality by 2030 and net-zero emissions by 2050.
As part of its focus on innovation, digitalization is playing a pivotal role in PTTOR's business strategy.
The company has become the first Southeast Asian oil and retail company to implement the SAP S/4 HANA system, alongside developing a control tower dashboard for optimized decision-making and operational efficiency.
Through these efforts, PTTOR aims to transition from a traditional oil and retail business into a regional leader in the rapidly changing energy sector, while maintaining its commitment to sustainable growth and environmental responsibility.
"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 concluded.
In his first media briefing since assuming the role, Peekthong outlined a strategic vision aimed at increasing the company's market share by 2-3% by 2025, while maintaining growth levels of 38%, similar to its performance in 2023. This plan leverages Thailand's strategic location and established infrastructure to expand PTTOR's presence throughout the ASEAN region.
"Thailand is being viewed as a key center for the oil industry in the region.
This status is supported by plans to utilize existing infrastructure, such as roads and pipelines, to facilitate expansion into neighboring countries.
As a result, Thailand is poised to become a highly effective oil service center for the region," said Peekthong during his briefing.
To achieve these ambitious goals, PTTOR has earmarked 60 billion baht for its five-year strategy, with 19 billion baht allocated for investment in 2024. This year's investments are set to be distributed across four core business pillars: 7.6 billion baht for mobility initiatives, 7.3 billion baht for lifestyle projects, with the remaining funds directed towards global expansion and innovative ventures.
Cambodia has been identified as a priority market for international expansion, building upon PTTOR's existing network of service stations in the country.
The company plans to focus on large-scale, scalable projects that align with PTTOR's resources and vision for growth.
"The potential new businesses should meet our key demand, which are big in proper size, scalability, synergy with OR resources, and share a common vision that OR can offer," Peekthong explained.
The company's strategy centers around three primary missions: seamless mobility, all lifestyles, and global market expansion.
Under the seamless mobility mission, PTTOR seeks to strengthen its position in the traditional oil industry while transitioning to alternative energy sources, such as electric vehicle (EV) charging stations and solar energy solutions.
The all lifestyles mission focuses on bolstering the Café Amazon brand and exploring opportunities in the food and beverage, as well as health and wellness sectors.
The global market mission is dedicated to strategic investments in high-potential international markets.
"In an era marked by rapid change and challenges, organizational 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, emphasizing the importance of trust and open communication with all stakeholders.
He reaffirmed PTTOR's commitment to inclusive growth, aligning with the company's vision of "Empowering All toward Inclusive Growth" and its ongoing SDG-driven initiatives.
These include supporting small entrepreneurs, diversifying investments, and advancing environmental sustainability.
PTTOR has also set goals to achieve carbon neutrality by 2030 and net-zero emissions by 2050.
As part of its focus on innovation, digitalization is playing a pivotal role in PTTOR's business strategy.
The company has become the first Southeast Asian oil and retail company to implement the SAP S/4 HANA system, alongside developing a control tower dashboard for optimized decision-making and operational efficiency.
Through these efforts, PTTOR aims to transition from a traditional oil and retail business into a regional leader in the rapidly changing energy sector, while maintaining its commitment to sustainable growth and environmental responsibility.
"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 concluded.
