Thai Oil Public Co Ltd - Company Profile
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Business Description
Thai Oil Public Co Ltd (Thai Oil) is primarily engaged in the operation and supply of petroleum products. Its main activities include refining crude oil, producing petrochemical products, and manufacturing lube base oil. The company’s operations span across various industries including oil refinery, petrochemicals-aromatics, lube base oil, power generation, solvents and chemicals, pipeline transportation, renewable-energy generation, and recruitment services. The company operates in various geographic locations, with a focus on markets in Asia, including Thailand, Vietnam, Indonesia, India, Myanmar, Cambodia, Laos, and the Philippines. The company operates through eight reportable business segments: Oil Refinery, Aromatics and LAB, Lube Base Oil Refinery, Power Generation, Solvent, Ethanol, Olefins and Others. In FY2024, the company’s capital expenditure stood at THB9,555.5 million, which was 2.1% of the company’s total revenue and decreased 34.5% YoY.
R&D Overview
Thai Oil has undertaken several R&D initiatives in FY2024, across six strategic pillars: Crude Excellence Center, Catalyst & Adsorbent Excellence Center, AI/Robotics Solution Provider, High Value Product/High Value Business, Polymer & Olefin Derivatives, and Sustainability & New Business. The company the completed five out of 14 R&D projects, along with the development of a Residue Hydro-Cracking Unit (RHCU) Pilot Plant, a significant milestone as it is the first of its kind in Southeast Asia. The plant is set to commence operations in 2025. Key R&D achievements included the development of new disinfectant and surfactant products, such as hydrocarbon decontamination chemicals, a waterless hand cleaner, and mild surfactants for personal care products, all aimed at addressing market demands while ensuring safety and efficiency. Collaborations with Chulalongkorn University were pivotal in testing catalysts for Euro 5 diesel and developing new surfactant delivery systems. Additionally, innovative projects focused on sustainability, such as converting carbon dioxide into high-value carbon materials and enhancing biological wastewater treatment processes, align with Thaioil's commitment to decarbonization. In FY2024, the company spent THB42 million, which as a percentage of revenue stood at 0.01%.
Business Segments
Overview
Carries out the production of upstream aromatic petrochemicals including paraxylene.
Performance
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Overview
It involves the production and distribution of ethanol used to produce gasohol fuels including gasohol E10, E20, and E85.
Performance
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Overview
It is primarily involved in the production and distribution of lube-based oil. The segment produces lubricants such as slack wax, sulfur, aromatic extract, treated distillate aromatics extract (TDAE), and bitumen.
Performance
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Overview
Carries out the company’s core operations such as crude oil distillation, conversion and upgrading processes. The segment’s products include gasoline, diesel, jet fuel, kerosene, fuel oil, and liquefied petroleum gas (LPG). It operates in Thailand and caters to regional markets in Asia Pacific.
Performance
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Overview
Operates as an extension of the company’s refining business to the petrochemical business through investment in PT Chandra Asri Pacific Tbk. Fulfills petrochemical demand particularly olefins in the Indonesian market.
Performance
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Overview
The segment is involved in the cogeneration power business, supplying power and steam for Thai Oil and Subsidiaries’ core businesses.
Performance
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Overview
Involves in the production and distribution of solvents and chemicals. Serves domestic and overseas markets, including Vietnam, Indonesia, India, Myanmar, Cambodia, Laos, and the Philippines.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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