Thailand has import and export requirements for refined oil products; thus, PTT, as a national oil company with investments in five out of the country’s seven refineries, has a duty to ensure the security and stability of country’s energy.
TBU’s Oil Products Trading Department imports LPG for industrial use, commercial use and transportation due to the growing demand that exceeds the country’s production capability. For power plant feedstock, the unit also imports Fuel Oil in times of shortage and exports it when there is a surplus.
The department has also been monitoring the world’s oil market and all crucial factors in order to devise an effective strategy for price risk management. Price risk management not only maximizes the export value but also strengthens the country’s economy against the volatility of crude oil prices. Moreover, by branching out into international trading and profit making from foreign currency, the department develops people’s capability and effectiveness. It also secures business alliances throughout the world including those in the Middle East, South America and Asia Pacific.
With the goal of streamlining its trading activities, the unit has organized its functions into four product groups:
- Light distillates such as gasoline and NGL
- Middle distillates such as kerosene, diesel fuel and aviation fuel
- Heavy distillates such as fuel oil and bitumen
- Special products such as lubricating base oil, LPG, reformate and vacuum gasoil