Oil and gas conglomerate PTT Plc plans to spend 2.45 billion baht from 2011 to 2015 to expand its retail oil business in Asean to serve demand growth before the Asean Economic Community (AEC) takes effect.
The company’s latest five-year capital expenditure was increased from the previous plan of 1.7 billion baht from 2012 to 2016.
Senior executive vice-president Auttapol Rerkpiboon said PTT aims for 300 petrol stations in neighbouring Asean countries by 2017, compared to 155 sites by 2016 under the previous plan. There are 88 pumps at present.
Land links between countries will be significant as regional trade increases with AEC’s enactment, he said.
PTT expects retail oil revenue generated from overseas branches will rise by 28% to 73 billion baht in 2017, up from 57.3 billion last year.
Over the five-year period, PTT envisions 45 petrol stations in Cambodia, up from 15 at present, 60 sites in Laos, up from 20, 60 pumps in Myanmar, up from one, and 135 in the Philippines, up from 50.
“In other countries with barriers in the retail oil business, PTT will sell lube oil and liquefied petroleum gas (LPG). These markets are Indonesia, Malaysia, Singapore and Vietnam,” said Mr Auttapol.
“We only aim to be the No.2 player in each country, letting each national oil company lead the market.”
Last year, retail oil revenue from overseas branches rose 17% from 48.9 billion baht in 2011 with sales volume surging 31% to 1.9 billion litres from 1.44 billion.
Source : Bangkok Post | August 20, 2013