Crude oil and condensate
Crude oil and condensate are the essential refinery feedstock. PTT has invested in five out of Thailand’s seven oil refineries, representing 84% of the country’s total production capacity. Some crude oil feedstock are from domestic oil and gas supply sources and some are imported. TBU’s Crude Oil Trading Department has a duty to deliver Crude and condensate to Oil Refineries operating under PTT Group in order to ensure long-term energy security and add value to Thailand’s resources. Moreover, with expertise in trading and operations, PTT is one of the largest Crude Oil and Condensate trading companies in the region, with global network and business alliances in the Middle East, Asia Pacific, Africa, Europe and Latin America.
Fostering cordial government-to-government relations with petroleum producing countries in the Middle East and other regions not only helps to ensure that PTT can obtain supplies at competitive prices, but also ensures steady deliveries to local refineries even at a time of crisis. Diversification of sources from secured locations also contributes to the security of supplies, adds value to PTT Group, and enables matching of specific local oil refineries feedstock requirements. In addition, another of TBU’s most important missions is to elevate trading expertise and experience in order to add value to the PTT Group, to leverage in such activities as the supporting and marketing of PTT Exploration and Production (PTTEP)’s resources both domestically and internationally.
The Unit has three functional sections which are 1) sweet Crude (regional crude and condensate), 2) sour crude (high-sulfur, lower quality, since sulfur extraction is required) and 3) crude supply operations. Such functional divisions are structured to ensure seamless efficiency that responds to refineries’ demand in respect to opportunities for swap, processing and optimizing the benefits from the procurement of crude oil for related businesses.