Logo of Phnom Penh Post newspaper Phnom Penh Post - Thai oil firm PTT to expand operations

Thai oil firm PTT to expand operations

Thai oil firm PTT to expand operations

Thai state-owned oil-and-gas conglomerate PTT said yesterday it was planning a $295 million expansion of its oil retailing business, including its Cambodian interests, over the next five years.

Bin May Mialia, the deputy managing director for corporate affairs at PTT (Cambodia) Limited, said the plan was to increase its existing number of 20 petrol stations to 65, expanding its reach across Cambodia.

“Initially the petrol stations will be set up around downtown areas and along the Asian Highway project.

The goal is to establish 45 more stations in Cambodia,” he said.

The Asian Highway project will look to improve road transport infrastructure in Asia, with Cambodia’s National Road 1 and 5 included in the network.

The new stations won’t create competition among existing PTT stations, as gas prices are uniform for all retailers, Mialia said.

“PTT stations have the same prices no matter their location, which is different from some local petrol stations, where gasoline prices differ according to the location,” he said.

The illegal smuggling of oil and gas into Cambodia from neighbouring countries continues to be a problem, Mialia said, but was optimistic that the problem will be resolved with the upcoming ASEAN Economic Community integration.

“The government is working on the issue and when AEC arrives, retailers will have to operate according to set standards and regulations,” he added.

The five-year plan will also increase the number of petrol stations in Laos from 24 to 62 and from 85 to 150 in the Philippines, as reported by the Bangkok Post yesterday.

PTT said it plans to open oil retail businesses in Indonesia, Malaysia, Myanmar, Taiwan and South Korea as well.

Most of PTT’s budget will be spent on expanding petrol station development in the local market and neighbouring countries, with a smaller amount of funding set aside to prepare for new non-oil businesses, said Buranin Rattanasombat, PTT’s oil business unit’s executive vice-president, to the Bangkok Post.

Cambodia spends more than $1 billion annually to import oil and gas from neighbouring countries to supply local demand.

MOST VIEWED

  • Kingdom's Covid cluster cases jump to 194

    The Ministry of Health on February 25 confirmed 65 new cases of Covid-19, with 58 linked to the February 20 community transmission. The latest cluster cases include nine Vietnamese nationals, five Cambodians, one each from Korea, Singapore and Japan, with the rest being Chinese. This brings the total number

  • Locations shut, dozens more Covid-19 positive

    The Ministry of Health has closed 23 locations in connection with the February 20 community transmission of Covid-19 and summoned for testing anyone who had direct contact with affected people and places. The number of discovered related infections has risen to 76, including 39 women. In a press release,

  • Cambodia's Covid cluster cases rise to 137

    The Ministry of Health on February 24 recorded 40 more cases of Covid-19, with 38 linked to the February 20 community transmission. Of the 40, two are imported cases involving Chinese passengers. The 38 include two Vietnamese nationals and one Cambodian, with the rest being Chinese. This brings the total cases

  • Covid cluster raises alarm, health bodies urge vigilance

    The Ministry of Health and the World Health Organisation (WHO) in Cambodia have expressed great concern over the February 20 cluster transmission of Covid-19 in the community. Both entities appealed for vigilance and cooperation in curbing further spread of the virus. Ministry spokeswoman Or Vandine said

  • PM confirms third Covid-19 community transmission

    Prime Minister Hun Sen on February 20 announced the Kingdom's third outbreak of Covid-19 community transmission after 32 people tested positive in just over 10 hours. Addressing the public from his residence after an emergency meeting, Hun Sen said: "I dub it February 20 Community Event, in which 32 cases

  • AstraZeneca jabs touch down in Phnom Penh airport

    The first shipment of 324,000 doses of the AstraZeneca/SII vaccine which was provided through the Covid-19 Vaccines Global Access (COVAX) Facility was delivered to Phnom Penh International Airport on March 2. The rest of the COVAX provided vaccines will arrive in Cambodia at a later date.