PTT Public Company Limited or simply PTT (Thai: ปตท) is a Thai state-owned SET-listed oil and gas company. Formerly known as the Petroleum Authority of Thailand, it owns extensive submarine gas pipelines in the Gulf of Thailand, a network of LPG terminals throughout the kingdom, and is involved in electricity generation, petrochemical products, oil and gas exploration and production, and gasoline retailing businesses.
PTT is one of the largest corporations in the country and also the only company from Thailand listed in Fortune Global 500 companies. The company ranks 81st among top 500 on the Fortune 500, and 180 on the Forbes 2000.
|PTT Public Company Limited|
|Traded as||SET: PTT|
|Industry||Oil and gas industry|
|Founded||29 December 1978 (as Petroleum Authority of Thailand)|
|Headquarters||555 Vibhavadi Rangsit Rd, Chatuchak, Bangkok, Thailand|
|Tevin Vongvanich, President and CEO|
|Products||Oil, natural gas, petrochemical|
|Revenue||1,737, 145 million baht (2016)|
|94,609 million baht (2016)|
|Total assets||2,232,331 million baht (2016)|
|Total equity||762,948 million baht (2016)|
|Owner||Thailand Finance Ministry (51.1%)|
Number of employees
|Subsidiaries||PTT Exploration and Production |
PTT Global Chemical Public Company Limited
Cove Energy plc
Global Power Synergy
PTT Philippines Corporation
PTT Rayong F.C.
For 2016 PTT PCL reported revenues of 1,737,148 million baht, net income of 94,609 million baht, assets of 2,232,331 million baht, and total equity of 762,948 million baht.
PTT's 15 directors were compensated with 14.9 million baht in meeting allowances in 2016, plus 38.7 million baht in bonuses. The president and CEO's salary for the year was 30.6 million baht plus a 9.6 million baht bonus.:137-138 The company in 2016 employed 4,616 (PTT):139 and 24,680 at subsidiaries.:140 Total compensation for PTT employees in 2016, excluding top management, was 9,651 million baht.:140
In 2008 PTT joined the PetroSkills Alliance. Member companies came together to create detailed skill and competency maps, which act as a guide for 200-plus short courses taught to industry professionals in over 40 locations worldwide. Competency maps are an analysis tool and software application that allows users to assess their skills to identify gaps in their training, areas needing improvement or mastered skill areas within upstream, downstream, and HSE petroleum subject disciplines.
Vencorex is a joint venture between PTT Global Chemical and the Perstorp Group, created in 2012, based in France's Rhône-Alpes region. It is the owner of technology and a major manufacturer of isocyanates, particularly toluene diisocyanate (TDI), hexamethylene diisocyanate (HDI, IPDI) and its derivatives.
The 2009 Montara oil spill, 250 km off Australia's northwestern coast led to "Thousands of barrels of oil gushed into the ocean over a 10-week period following a blowout at PTTEP Australasia's West Atlas rig in the Timor Sea". The Australian unit of PTT Exploration and Production (PTTEP) "admitted to four charges" in the 2009 spill.
The 2013 Rayong oil spill started on the night of 28 July 2013. An oil leak (from a pipeline) 35 kilometers from Ko Samet's Ao Phrao Beach, resulted in the beach being closed and its tourists evacuated after spillage reached the beach. The crude oil spill had occurred 20 km off Thailand's mainland, "when a floating hose transferring oil from a tanker to a PTT refinery pipeline broke sending 50,000 litres of oil spewing into the coastal waters". On 7 August 2013 media said that the Department of Special Investigation had seized an oil supply line, suspected of being faulty.
In November 1993 former Prime Minister of Thailand Anand Panyarachun established the Thailand Business Council for Sustainable Development. In 2010, PTT President and CEO Prasert Bunsumpun announced that PTT would expand into producing more renewable energy.
PTT has many subsidiaries, including PTTGC, TOP, BCP, and PTTEP, all of which are working towards producing more environmentally friendly energy. In 2014, Bangchak Petroleum completed its Sunny Bangchak project, a 38-megawatt silicon photovoltaic power plant, the largest of its kind in Southeast Asia. In September 2014, Thai Oil Public Company Limited (TOP), another PTT subsidiary, was recognized as a leader in business sustainability by the Dow Jones Sustainability Index. Thai Oil (TOP) has proven to be an environmentally friendly company, with no reported violations of environmental laws.
The company also produces and distributes ethanol from sugarcane through various channels like Maesod Clean Energy, Sapthip, and Ubon Bio Ethanol. In August 2014, PTT Global Chemical (PTTGC) along with Diary Home and NatureWorks, announced their eco-friendly Ingeo bioplastics yoghurt cup. PTTGC seeks to become a major player in bio-based chemicals.
In an action by the US Department of Justice (DOJ) against aircraft engine-maker Rolls-Royce,:4, 6, 9-12 the DOJ claimed that Rolls Royce had paid more than US$11 million in commissions to win a deal with Thai Airways, aware that some of the funds would be used to bribe officials at PTT and its subsidiary, PTT Exploration and Production (PTTEP). The payments were made from 2003-2013 and related to contracts for equipment and after-market products and services. Admitting its guilt, Rolls-Royce paid US$170 million to settle the case. PTT vowed to investigate. Subsequently, PTT Chairman and CEO Tevin Vongvanich said that the company was unable to find anyone who "allegedly took bribes".
Bangkok Airways Public Company Limited (SET: BA,Thai: บางกอกแอร์เวย์) is a regional airline based in Bangkok, Thailand. It operates scheduled services to destinations in Thailand, Cambodia, China, Hong Kong, India, Laos, Malaysia, Maldives, Myanmar, Singapore, and Vietnam. Its main base is Suvarnabhumi Airport.Bueng Phra railway station
Bueng Phra railway station is a railway station located in Bueng Phra Subdistrict, Phitsanulok City, Phitsanulok. It is located 381.875 km from Bangkok railway station and is a class 1 railway station. It is on the Northern Line of the State Railway of Thailand. The station opened on 24 January 1908 as part of the Northern Line extension from Pak Nam Pho to Phitsanulok. PTT Public Company Limited operates a crude oil depot adjacent to the site and the railway operates several oil freight services from this station (to Mae Nam Station).Café Amazon
Café Amazon (Thai: คาเฟ่ อเมซอน) is a chain of Thai cafes founded by PTT Public Company Limited. The cafes are primarily found inside of gas stations.
There are 2,557 Amazon Cafés located inside and outside of PTT gas stations, of which 168 are international outlets that operate in 5 countries. Most in Southeast Asia.Cove Energy plc
Cove Energy plc, also known as Cove, was a London-headquartered oil & gas exploration company with assets in East Africa. The company was created in June 2009. In 2012, following significant gas discoveries offshore Mozambique, Royal Dutch Shell plc and PTT Exploration and Production (PTTEP), a subsidiary of Thailand's national oil company PTT Public Company Limited, engaged in a prominent bidding war to acquire Cove. Ultimately, the company was sold in August 2012 to PTTEP.Kamnoetvidya Science Academy
Kamnoetvidya Science Academy (Thai: โรงเรียนกำเนิดวิทย์; rtgs: Kamnoetvidya Science Academy), also known colloquially as KVIS, is a high school in Thailand. The school uses a customized curriculum mainly focused on Mathematics, Science, Engineering and Technology. Native English speakers are employed to teach English as well as other subjects. Apart from English, various other languages like Chinese, Japanese, Spanish and German are taught to students.List of companies of Thailand
Thailand is a country at the centre of the Indochinese peninsula in Southeast Asia. The Thai economy is the world's 20th largest by GDP at PPP and the 27th largest by nominal GDP. It became a newly industrialised country and a major exporter in the 1990s. Manufacturing, agriculture, and tourism are leading sectors of the economy. The economy is heavily export-dependent, with exports accounting for more than two-thirds of gross domestic product (GDP). Thailand exports over US$105 billion worth of goods and services annually.Substantial industries include electric appliances, components, computer components, and vehicles. Thailand's recovery from the 1997–1998 Asian financial crisis depended mainly on exports, among various other factors. As of 2012, the Thai automotive industry was the largest in Southeast Asia and the 9th largest in the world. The Thailand industry has an annual output of near 1.5 million vehicles, mostly commercial vehicles.For further information on the types of business entities in this country and their abbreviations, see "Business entities in Thailand".Ministry of Energy (Thailand)
The Ministry of Energy of the Kingdom of Thailand (Thai: กระทรวงพลังงาน; RTGS: Krasuang Phalang Ngan) is a cabinet ministry in the Government of Thailand.PTT Exploration and Production
PTT Exploration and Production Public Company Limited (PTTEP) is a national petroleum exploration and production company based in Thailand. It is a subsidiary of the state-owned PTT Public Company Limited. The company was founded on 20 June 1985.
PTTEP’s core business is exploration and production of petroleum in Thailand and foreign countries. As of June 30, 2018, PTTEP Group had 40 petroleum exploration and production projects in 11 countries; 16 projects in Thailand, 15 projects in Southeast Asia, 5 projects in Americas, 3 projects in Africa and 1 project in Australia.PTT Global Chemical
PTT Global Chemical Public Company Limited (GC) is a subsidiary of PTT Public Company Limited. It was founded on 19 October 2011 through the amalgamation of PTT Chemical Public Company Limited and PTT Aromatics and Refining Public Company Limited to be the chemical flagship of PTT Group.PTT Rayong F.C.
Petroleum Authority of Thailand Rayong Football Club, also referred to as simply PTT Rayong, (Thai: สโมสรฟุตบอลปตท.ระยอง) is a Thai professional football club based in Rayong Province. They play in Thai League after promotion as runner-up in 2007 from the Thailand Division 2 League. PTT FC is a company-sponsored sports club owned by the PTT Public Company Limited.PTT Stadium
PTT Stadium (Thai: สนาม ปตท. ระยอง หรือ สนามสวนสมุนไพร มาบข่า) (known as Mabka Stadium) is a football stadium located in Rayong, Thailand, and is the home of Thai League 2 side, PTT Rayong Football Club. The name of the ground changed to sponsorship agreements (PTT Public Company Limited), With a capacity of 12,000.Pailin Chuchottaworn
Pailin Chuchottaworn (born 1956) is a Thai businessman, and from 2011 to 2015 was the chief executive officer (CEO) of PTT Public Company Limited, a Thai state-owned oil and gas company, and a Fortune Global 500 company.
Chuchottaworn was born in 1956. He has a bachelor's degree from Chulalongkorn University, a master's degree from the Tokyo Institute of Technology, and a doctorate in from Tokyo Institute of Technology, all in chemical engineering.Chuchottaworn was the CEO and president of PTT from September 2011 to September 2015.He is the founder and chairman of Kamnoetvidya Science Academy, Rayong, Thailand, which is run by PTT.Pailin was appointed Deputy Transport Minister in December 2017.Piyasvasti Amranand
Piyasvasti Amranand (Thai: ปิยสวัสดิ์ อัมระนันทน์; RTGS: Piyasavasti Ammaranan, born 11 July 1953) was Thailand's Energy Minister between 9 October 2006 and 6 February 2008. He is former Secretary-General of the Thai National Energy Policy Office, Chairman of Kasikorn Asset Management, and Chairman of Panel of Advisors for the CEO of Kasikornbank. He was President of Thai Airways International between October 2009 and June 2012. He is Chairman of PTT Public Company Limited, board member of Kasikorn Bank, and board member of Pruksa Holding public company limited. Piyasvasti also plays active roles in three non-profit organizations as founding and core member of the Energy Reform for Sustainability Group (ERS); Chairman of the Energy for Environment Foundation, a non-profit organization undertaking renewable energy and energy efficiency projects; and as president of the Ski and Snowboard Association of Thailand.Red Island Minerals
Red Island Minerals Ltd (RIM) is a Perth Western Australia-based coal development company operating in Madagascar. The company is wholly owned by PTT Asia Pacific Mining Pty Ltd, a subsidiary of PTT Public Company Limited, a state-owned Thai company.Red Island Minerals was founded by Sam Malin under the name Petrosearch International on 2 March 2005. Its name was changed to Red Island Minerals in 2008.
Red Island Minerals develops the Sakoa coal field in southwestern Madagascar. It operates through its wholly owned subsidiary, Madagascar Consolidated Mining SARL, in which the Malagasy government agency OMNIS holds a minority stake.SET50 Index and SET100 Index
The SET50 and SET100 Indices are the primary stock indices of Thailand. The constituents of both lists are companies listed on the Stock Exchange of Thailand (SET) in Bangkok.Stock Exchange of Thailand
The Stock Exchange of Thailand (SET, Thai: บริษัท ตลาดหลักทรัพย์แห่งประเทศไทย จำกัด) is the national stock exchange of Thailand. At the end of 2017, the Stock Exchange of Thailand had 688 listed companies with a combined market capitalization of 17.92 trillion baht or US$560 billion.
As of 1 June 2018, SET's president is Pakorn Peetathawatchai, appointed to a four-year term.Tevin Vongvanich
Tevin Vongvanich (born 31 August 1958) is a Thai businessman, and the CEO of PTT Public Company Limited, a Thai state-owned oil and gas company, and a Fortune Global 500 company, since September 2015, when he succeeded Pailin Chuchottaworn.
He has a bachelor's degree in chemical engineering from Chulalongkorn University, a master's degree in chemical engineering from Rice University, and a master's degree in petroleum engineering from the University of Houston.Thai AirAsia
Thai AirAsia (SET: AAV, Thai: ไทยแอร์เอเชีย) is a joint venture of Malaysian low-fare airline AirAsia (Thai: แอร์เอเชีย) and Thailand's Asia Aviation. It serves AirAsia's regularly scheduled domestic and international flights from Bangkok and other cities in Thailand.
Thai AirAsia was once the only low-cost airline operating both domestic and international flights from Suvarnabhumi Airport. However, the airline transferred all operations in Bangkok from Suvarnabhumi Airport to Don Mueang International Airport effective 1 October 2012.
Petroleum Companies in the Philippines