As the sun rises on a new era of energy excellence, Bangchak Corporation Public Company Limited dazzles the global stage by securing its role as a major shareholder in Bangchak Sriracha Co., Ltd. With eyes set firmly on sustainability, accessibility, and unwavering energy security, Bangchak has crafted a strategic symphony that harmonizes the essence of dynamism with the principles of a burgeoning low carbon society. The captivating vision of net zero greenhouse gas emissions by the illustrious year of 2040 has become a tangible reality under the guidance of Mr. Chaiwat Kovavisarach, the virtuoso CEO and Executive Chairman steering the Bangchak ship through prosperous seas.
The year 2023 witnessed Bangchak’s business units pirouetting across the stage, outperforming industry averages with a flamboyant flourish of growth and innovation. Each division, a soloist in its own right, delivered an encore-worthy performance that echoed the company’s potential and capabilities. The acquisition of majority shares in Bangchak Sriracha kicked off a series of well-orchestrated steps that encompassed the entire spectrum of the Energy Trilemma. Efficiency, synergy, and the enthusiastic pursuit of a platform for perpetual growth were the cornerstones laid down by Bangchak, all in an effort to deliver affordable energy, reinforce stability, and etch a sustainable future for the company and the Thai community.
On top of it all, the refining and oil trading arm of Bangchak Corporation shines like a beacon of industrial prowess. Home to not one, but two, world-class oil refineries, the group is drumming up to bolster its crude oil refining capacity to a staggering 266,000 barrels per day, up from 155,000 in 2023 – a skyward scale of a 72% crescendo. The Bangchak Prakanong Refinery, an alchemist turning energy into gold, has trimmed down refining costs to a lean $1.3 per barrel, while conducting a symphony of energy efficiency. Plans are in motion to pluck the strings of carbon capture technology, charming the bio-refinery sector with the sweet notes of Sustainable Aviation Fuel, derived elegantly from used cooking oil.
But the melody doesn’t stop there. Graced with success, Bangchak Prakanong’s strategies will be elegantly re-scored for the Bangchak Sriracha Refinery. A 2024 goal of refining 155,000 barrels per day sets the tempo, the highest since its inception. BCPT in Singapore leads the procurement procession, with BFPL orchestrating fuel transportation logistics, and the newly-founded Refinery Optimisation and Synergy Enterprise tantalizingly hinting at efficiency improvements forthcoming. With such fortissimo, Bangchak’s crescendo to continuous, sustainable growth is one performance you won’t want to miss.
The marketing maestros at Bangchak are composing a customer-centric overture that transforms service stations into veritable havens for patrons of all ages. Intent on expanding this network from 2,221 dazzling stations to a grand total of over 2,500 by the year 2030, Bangchak incorporates the magnetic charm of Unique Design service stations. Its repertoire doesn’t end there – from superior fuel options like Premium 97 and Diesel to the charming crescendo of Inthanin coffee shops, Bangchak is fortifying its non-oil symphony with diverse product brands and inviting partner shops. Intent on lubricating the market with its premium FURiO brand, this marketing ensemble is all set to redefine the Bangchak emblem with its ‘New Leaf’ symbol, crafting a multi-generational opus named ‘Your Greenovative Destination for Intergeneration.’
In the field of clean energy production, BCPG Public Company Limited vows to double its energy concerto, bringing new harmonies to storage solutions for electric vehicles, and an intelligent management of energy that promises to be nothing short of a magnum opus. BBGI Public Company Limited adds to the performance, projecting a 40% volume crescendo in sales and a duet with Fermbox Bio that hits high notes with enzyme production set to serenade the future.
And as for securing the energy forte, the exploration and production ensemble is looking to raise the bar with an ambitious 74% increase in production. With their eyes on new reserves, they aim to create a symphony that will resonate across the globe. From natural gas as a bridging note in our energy composition to electric mobility and beyond, Bangchak’s strategic ensemble plays a fervent rhythm to meet the needs of tomorrow.
From the Greenovate to Regenerate’ philosophy that orchestrates a delicate balance between nature and energy, to the ambitious ESG cadence that speaks to an ethical and responsible corporate conduct, Bangchak is not simply playing notes; it’s composing a future. With a score that has been refined over the past 40 years, Bangchak hits all the right chords to ensure a legacy that will resonate sustainability and harmony for Thailand and the world beyond. So, take a seat, the maestro is about to conduct another groundbreaking symphony,” Mr. Chaiwat concluded.
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