Thaioil aims to develop its niche as an industry leader
Veerasak Kositpaisal, CEO, Thai Oil
With a strong foundation built on more than 50 years of experience, Thai Oil (Thaioil) has developed into an industrial leader in Thailand. Its core oil refinery business has enabled Thaioil to become a recognised leader in the industry. As it looks towards the future, Thaioil is set to develop its legacy as a trusted company with a driven management team.
Thaioil operates a comprehensive refinery that uses advanced and efficient processing technologies to produce 275,000 barrels per day.
Its products are primarily for domestic distribution.
Expansion into petrochemical, lube base businesses, power generation and the marine transport of petroleum and petrochemical products has enabled Thaioil to strengthen its core business while continuing to benefit from its refinery’s strategic location.
Thaioil’s CEO Veerasak Kositpaisal says: “Bangkok and the surrounding regions account for 70 per cent of demand and our refinery is strategically located only 120 kilometres from Bangkok. This gives us the advantage of being in close proximity to our customer base and enables us to supply the domestic market efficiently and deliver products on time.”
Thaioil achieved Level B with its recent sustainability report published in partnership with the Global Reporting Initiative, a non-profit organisation that promotes economic, environmental and social sustainability.
“As a leading production company, safety, efficiency and environmental awareness are part of our DNA,” Kositpaisal says. “In Thailand, we contribute to the country’s development by creating partnerships with local people in the areas in which we operate. We are committed to continually working alongside local authorities and communities by providing employment opportunities and building community centres and dental clinics to ensure we help improve the quality of people’s lives in communities.”
Kositpaisal sees huge opportunities within the Asia-Pacific region. “There are 600 million people in Asean and demand for products and services is expected to increase with the establishment of the Asean Economic Community in 2015. Asean economies will grow in line with the increase of free movement of capital, skilled labour and services, and Thaioil is in a strong position to benefit from these opportunities. We have established an international footprint and we expect this to increase across the region.”
China’s continued economic engagement with Asean countries continues to be a significant catalyst for growth within the region. Since the earliest traders, Thailand and China have enjoyed a mutually beneficial relationship.
“Thaioil already has customers in China who purchase our chemical products for use in the important Chinese textile industry, and business opportunities between our two countries will continue to present themselves,” Kositpaisal says. “As we look towards the future, we want to be seen as one of the most competitive players in the industry and, through the work of our talented staff, we are on track to achieve our goal. As we build on the legacy of the last 50 years, we will ensure Thaioil is seen as a responsible business group with a strong desire to achieve our growth expectations.”