Oil and Retail Business
Oil and Retail Business
Oil Business
Fuel products of the Company and subsidiaries can be divided into 2 main types as follows:
- Diesel fuels, specifically high-speed diesel B7 (hereinafter called "diesel fuel")
- Benzene fuels, which comprises octane-95 benzene, gasohol 95, gasohol 91 and gasohol E20 (hereinafter called "benzene fuel")
The Company primarily distributes diesel fuel, catering to the needs of commercial vehicle operators, who are significant customers both directly and indirectly. This emphasis on diesel fuel sales aligns with the prevalent vehicle types registered in Thailand, the majority of which utilize diesel fuel. Furthermore, the Company has strategically expanded its operations, particularly in Bangkok and surrounding areas, resulting in a notable increase in the proportion of Benzene fuel sales compared to 2021’s figures.
The Company operates in the fuel trading business through two types of service stations: Company Owned Company Operated (COCO) stations, managed by Petroleum Thai Corporation Company Limited (“PTC”), a subsidiary, and Dealer Owned Dealer Operated (DODO) stations. The latter purchase fuels from the Company and its subsidiaries, which act as traders under Section 10. In this capacity, the Company provides guidance and support to these dealers on matters such as station layout design, investment strategies, and operational management. The distribution of diesel fuel and benzene fuel sales at each station varies based on the preferences and needs of the target customers in the vicinity.
Moreover, the Company functions as an oil trader under Section 10, supplying fuels wholesale to other oil traders and industrial operators requiring large volumes of oil per batch. The purposes of these purchases may vary; for example, to resell the products to other oil traders or utilize them in manufacturing processes within their industrial facilities.
Charging Station Service (For EVs)
The Company is committed to expanding its service stations to offer a comprehensive range of products, recognizing the growing shift in energy consumption toward electric power for electric vehicles. In 2021, the Company officially launched electric vehicle charging stations at PT service stations, in collaboration with leading energy industry players and the Thai government, including the Electricity Generating Authority of Thailand (EGAT). The expansion continues along major highways and key tourist destinations to support the growth of the electric vehicle industry under the "Elex by EGAT PT" brand. This initiative aims to provide efficient electric vehicle charging services, promote clean energy, and contribute to reducing greenhouse gas emissions.
The Company’s electric vehicle charging stations offer charging services for both PHEV (Plug-in Hybrid Electric Vehicle) and BEV (Battery Electric Vehicle) models, utilizing DC Fast Charge systems for personal vehicles. With a maximum charging capacity of 150 kilowatts per hour, users can initiate the charging process by scanning a QR code and paying via the ELEXA app. The service is available in two options: 1. Advance Reservation – allowing users to book within a 30-kilometer radius of the charging station, and 2. Walk-in – available at PT service stations equipped with electric vehicle chargers.
The electric vehicle market in 2024 continues to experience strong growth, driven by rising demand and robust support from both the public and private sectors. In response to this market expansion, the Company has significantly increased its electric vehicle charging network, expanding from 49 stations in 2023 to 190 stations in 2024, representing a remarkable growth rate of 287%. To enhance service quality and standards, the Company has focused on installing high-performance charging units that support full power output, enabling rapid charging with an average time of just 30 minutes per vehicle. Additionally, the company has improved the ELEXA app for greater stability and integrated it with the PT Max Card, offering exclusive benefits such as earning 1 Max Point for every 10 baht spent, along with a 50 baht discount on charging services twice a month for PT Max Card Plus EV members. Moreover, the company has combined benefits from its Non-Oil businesses, including discounts at Phun Thai Coffee and Max Mart stores, to offer customers greater value. The Max Me app further enhances the overall experience, meeting the growing needs of electric vehicle users in 2024 by providing a seamless, comprehensive service.
The Company prioritizes the quality of its electric vehicle charging units and high-voltage electrical systems, which are sourced in collaboration with EGAT, given their expertise in electrical systems and infrastructure. For the station architecture, the Company will handle procurement, ensuring that all designs and installations meet the shared standards established with EGAT.
Retail Business
In addition to oil trader through service stations, PTC serves as an investor and operator of Max Mart convenience stores, strategically positioned within PT COCO and DODO service stations. PTC meticulously selects suitable service stations based on several criteria:
- Stations with high foot traffic and robust sales figures are prioritized.
- Consideration is given to proximity to residential areas, commercial hubs, government buildings, and well-connected routes.
- The station must have adequate space to accommodate a convenience store.
PTC has refined its approach to convenience store management to enhance operational efficiency and meet evolving customer demands. This involves modernizing building structures, upgrading store aesthetics, enhancing equipment, and diversifying product offerings to align with customer preferences. As of the end of 2024, the Company had successfully established 374 Max Mart branches. Moving forward, PTC aims to further expand the Max Mart footprint, ensuring comprehensive coverage across diverse regions to seamlessly integrate end-to-end services within PT service stations and effectively cater to user needs.
