Founded in 1978, the National Oil Company of Thailand, one of the world's top 500 companies, exercises the right to manage oil and gas resources in Thailand on behalf of the government, and is responsible for the exploration and development of oil resources owned by the government, oil refining, storage and sales of oil products, oil utilization, management and transportation, and natural gas processing
Petrota, also known as the Petroleum Authority of Thailand (PTT), is one of the two major ministries under the Ministry of Industry of Thailand (the Bureau of Mineral Resources and the Petroleum Authority). As an economic entity, PTT exercises the right to manage oil and gas resources in Thailand's territory on behalf of the government, and its main business is: responsible for the exploration and development of oil resources owned by the government; Responsible for petroleum refining and storage and sales of oil products; It is responsible for the utilization, management and transportation of petroleum, and the processing and treatment of natural gas. PTT is headquartered in Bangkok, the capital of Thailand, and is a publicly traded company controlled by the Thai government.
The National Petroleum Authority of Thailand was established in 1978. It is an oil and gas industry management agency and operating entity under the Ministry of Industry of Thailand. After the establishment of the bureau, the former Thai Gas Authority, the Petroleum Fuel Agency and the Bangchak Refinery were merged successively. The PTT Board of Directors is composed of 12 ministers appointed by the government, with Thai Prime Minister Sippanondba Ketudat as Chairman of the Board. The Petroleum Exploration and Production Company of Thailand (PTTEP) is the company responsible for upstream activities and has a stake in private companies such as The Thai Oil Co., Bangcack Petroleum Company, National Petrochemical Public Company Limited (NPC), Thai Olefins Company Limited, Thai Aromatics Company Limited, National Fertilizer Company (BFC), Thai Petroleum Pipeline Company, Fuel Oil Pipeline Transportation Company, and Bangkok Aviation Fuel Oil Services Company.
PTT (Bangkok) is considering splitting the company's business into three segments: chemicals; research and production; and refining. The restructuring is scheduled to be completed in 2007. PTT said its chemical business, PTT Chemical, will be structured by the end of the year through a previously announced merger plan to merge PTT's olefins production subsidiary, National Petrochemical, with Thai Olefins Co. The company said the refining business will include the company's aromatics business. PTT plans to merge the company's aromatics (Thailand) and Rayong Refinery subsidiaries next year; In 2007, the merged entity was merged with PTT's Thai Oil and Bangchak Petroleum Corp. Affiliate Consolidation.
