Refinery Companies in Thailand: An Overview

Thailand is one of the leading oil importers and consumers in Southeast Asia, with a domestic demand of about 1.4 million barrels per day (bpd) in 2020.

Thailand has a well-developed and diversified refinery sector that supplies various petroleum products and petrochemicals to the domestic and international markets. The major refinery companies in Thailand are PTT group companies, which account for about 70% of the total refining capacity in the country.

To meet its energy needs, Thailand relies on a number of refinery companies that operate complex and efficient refineries with a combined capacity of over 1.1 million bpd.

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PTT Public Company Limited (PTT)

PTT is the national oil and gas company of Thailand, and the largest integrated petrochemical and refining company in the country. PTT operates four refineries through its group companies, with a total capacity of 770,000 bpd. These are:

• Thai Oil Public Company Limited (TOP): Thailand’s No. 1 refiner and seller of petroleum products, TOP operates a refinery with a capacity of 275,000 bpd in Sriracha, Chonburi province. Its core products include light oil (LPG, gasoline, mixed xylenes, reformate, and isomerate), medium oil (aviation fuel and diesel), and heavy oil (fuel oil, long residue, and asphalt). TOP also produces petrochemicals, lube base oil, power, solvents, chemicals, and alternative energy products.
• PTT Global Chemical Public Company Limited (GC): Thailand’s largest petrochemical and chemical company, GC operates a refinery with a capacity of 280,000 bpd in Map Ta Phut Industrial Estate, Rayong province. Its products include base chemicals (ethylene, propylene, aromatics, etc.), derivative and bio chemicals (polyethylene, polypropylene, bio-plastics, etc.), and performance chemicals (specialty polymers, coatings, etc.). GC also invests in related businesses such as logistics, utilities, tank farms, engineering, and renewable energy.
• IRPC Public Company Limited (IRPC): A pioneer in integrated petrochemical industry in Asia-Pacific region, IRPC operates a refinery with a capacity of 215,000 bpd in Rayong province. Its products include petroleum products (gasoline, diesel, jet fuel, etc.), petrochemical products (ethylene, propylene, styrene monomer, etc.), specialty polymers (ABS resin, SAN resin, etc.), and high value-added products (lubricants, greases, waxes, etc.). IRPC also provides power generation and distribution services.

Other Refinery Companies

In addition to PTT group companies, there are also other refinery companies that operate in Thailand. These include:

• Esso Thailand Public Company Limited: A subsidiary of ExxonMobil Corporation recently acquired by Bangchak Corporation, Esso Thailand operates a refinery with a capacity of 174,000 bpd in Sriracha district, Chonburi province. Its products include gasoline (RON95/91/85), diesel (B7/B10/B20/B30/B100), jet fuel (JET A-1), fuel oil (FO180/FO380), asphalt (ASPHALT 60/70)
• Bangchak Corporation Public Company Limited (BCP): A modern complex refinery with a focus on green innovation, BCP operates a refinery with a capacity of 120,000 bpd in Phra Khanong district, Bangkok. Its products include gasoline (GBASE), jet fuel (JET), diesel (DIESEL), fuel oil (FO), unconverted oil (UCO), and low sulfur fuel oil (LSFO). BCP also produces biofuels (ethanol and biodiesel), solar power, natural gas for vehicles (NGV), and green lubricants.
• Star Petroleum Refining Public Company Limited (SPRC): A joint venture between Chevron Corporation and PTT, SPRC operates a refinery with a capacity of 165,000 bpd in Map Ta Phut Industrial Estate, Rayong province. Its products include gasoline (RON95/91/E20 Gasohol/E85 Gasohol), diesel and LPG.

Other refinery companies include Esso Thailand and SPRC, which operate refineries with different capacities and product ranges. These refinery companies are committed to enhancing their efficiency, safety, environmental standards, and competitiveness in the global oil market.