Logo of Phnom Penh Post newspaper Phnom Penh Post - PTT petrol stations filling up

PTT petrol stations filling up

Motorists drive past a PTT petrol station in Phnom Penh
Motorists drive past a PTT petrol station in Phnom Penh. The Thai oil and gas conglomerate plans to double the amount of stations it manages in Cambodia. PHA LINA

PTT petrol stations filling up

Thailand’s PTT Cambodia, a subsidiary of the kingdom’s state-owned oil and gas conglomerate PTT Public Company Limited, expects to more than double the amount of petrol stations it manages in Cambodia by the end of 2017, a senior executive in the company said this week.

Vice president of commercial and international marketing Auttapol Rerkpiboon said the company’s goal is to be a top regional brand in Asia.

“We have seen the opportunity in the Cambodian economy and market, that it can be invested in now,” he said. “Also, we want to be ready and well prepared for the future growth by the Asean Economic Community.”

PTT Public Company Limited, which is listed on Thailand’s stock exchange, plans to spend over $77 million between 2013 and 2017 to expand its oil retail business in the region, Auttapol added.

The new budget is $24 million more than the previous $53 million in an earlier plan for the four years between 2012 and 2016.

The state firm aims to have 300 petrol stations in neighbouring Asean countries by 2017, Auttapol said Tuesday. Outside of Thailand, there are 88 filling stations across the region.

As early as 2015, PTT wants to have 31 stations in Cambodia, up from 15; 40 in Laos, up from 20; 18 in Myanmar, a huge jump from one; and 108 in the Philippines, which now has 54.

PTT’s revenue from overseas branches last year totalled $1.8 million. The company expects growth of 28 per cent to reach $2.3 million in 2017.

Last year, revenue from stations outside of Thailand stood at $1.8 million, a 17 per cent increase from $1.5 million in 2011. Sales volumes grew 31 per cent, from 1.44 billion litres in 2011 to 1.9 billion litres in 2012.

The next station in Cambodia will be a platinum “one stop service station” due to open in October, said Bin Many Mialia, Cambodia PTT manager.

“This is within the five-year plan to expand more retail oil network and provide the highest standard petrol stations, ” he added.

The “platinum” station will have a cafe and convenience store in addition to the fuels and services of standard retailers.

Cambodia imported about 400,000 tonnes of petroleum in the first quarter of 2013, compared with 471,000 tonnes at the same period last year, a decline of 12 per cent, according to the ministry of commerce.

ADDITIONAL REPORTING FROM BANGKOK POST

MOST VIEWED

  • Ethnic group ‘disappointed’ to be denied French visas to attend court

    Eleven people at the centre of a case involving seven indigenous Bunong villages in Mondulkiri province pursuing legal action in France have expressed disappointment after the French embassy in Phnom Penh denied their visa applications to attend court. A press release said the 11 included a

  • Cambodia nabs 12th place in best retirement destinations

    Cambodia is an expatriate hotspot for those dreaming of living a more luxurious lifestyle at an affordable cost, according to International Living’s Annual Global Retirement Index 2019. For the fourth year in a row, Cambodia took the top spot in the Cost of Living category.

  • EU starts EBA withdrawal

    The EU on Monday announced that it has begun the 18-month process of withdrawing the Kingdom’s access to its preferential Everything But Arms (EBA) agreement over “a deterioration of democracy [and] respect for human rights”. However, the Garment Manufacturers Association of Cambodia (GMAC) said

  • PM: War result of foreign meddling

    Prime Minister Hun Sen said on Sunday that Cambodia’s recent history of conflict was caused by foreign interference. “The wars that happened were caused by provocation, incitement, support, smearing and interference from foreign powers, and the group of ignorant people who pushed Cambodia to