Bangchak to become Thailand’s second largest oil retailer after Esso buyout

[snoop1130]

 

The acquisition of Esso (Thailand) Public Company will make Bangchak Corporation Public Company (BCP) the oil company with the second largest market share in Thailand, 29.1%, behind PTT Public Company’s 39%.

 

According to BCP, the takeover deal, which was concluded on Wednesday between BCP and ExxonMobil, the parent company of Esso (Thailand) Pcl, will increase the oil refining capacity of BCP to 290,000 barrels per day and increase the number of service stations across the country to 2,100, from about 700.

 

BCP has assured that the 2,000 staff of Esso Thailand will not be laid off and will be employed under BCP’s management.

 

Full Story: https://www.thaipbsworld.com/bangchak-to-become-thailands-second-largest-oil-retailer-after-esso-buyout/

 

-- © Copyright Thai PBS 2023-01-13

 

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[kickstart]

I filled up today at our local Bangchak noticed petrol was 40 stang/litre more expensive than a few days ago .

 suppose they have to pay for the acquisition somehow.

[Thingamabob]

Q8, BP and now Esso have all withdrawn from the retail oil market in Thailand. It is very hard for foreign companies to generate even a small profit in this sector. Shell, however, have been well entrenched for over 100 years. It remains to be seen if Caltex, who are significantly involved offshore, will persist.

[GuyDow]

And Conoco (Jet), and Petronas , and Mobil. It's not about higher costs. It's about Thai business practices that foreigners cannot replicate.

[Cricky]

19 hours ago, Thingamabob said:

Shell, however, have been well entrenched for over 100 years

Not sure how Shell, Pattaya Tai are going since they've introduced the digital petrol browsers.

 

Seemed everytime I filled up the scooter they'd never reset the amount to zero, always leaving the previous customers total then filling mine.

 

They got me a few times ????

 

[kickstart]

On 1/14/2023 at 10:33 AM, Thingamabob said:

Q8, BP and now Esso have all withdrawn from the retail oil market in Thailand. It is very hard for foreign companies to generate even a small profit in this sector. Shell, however, have been well entrenched for over 100 years. It remains to be seen if Caltex, who are significantly involved offshore, will persist.

And Shell are nearly always a Baht or two more expensive than other petrol stations ,( they are around here).

And a new Shell  petrol station has just opened near me, see how they go.

We have a Caltex near here ,one of a very few petrol stations selling proper 91 octane petrol ,if I remember right about 45 baht/litre.

[DrDave]

On 1/13/2023 at 8:43 AM, kickstart said:

I filled up today at our local Bangchak noticed petrol was 40 stang/litre more expensive than a few days ago .

 suppose they have to pay for the acquisition somehow.

Nothing unusual, retail prices fluctuate daily in step with with the global crude market.

[NanLaew]

On 1/14/2023 at 10:33 AM, Thingamabob said:

Q8, BP and now Esso have all withdrawn from the retail oil market in Thailand. It is very hard for foreign companies to generate even a small profit in this sector. Shell, however, have been well entrenched for over 100 years. It remains to be seen if Caltex, who are significantly involved offshore, will persist.

Caltex, like Shell, have no Thailand offshore operations, only gas stations and (possibly) some partnerships in refineries.

Edited January 16, 2023 by NanLaew

[NanLaew]

On 1/14/2023 at 10:47 AM, GuyDow said:

And Conoco (Jet), and Petronas , and Mobil. It's not about higher costs. It's about Thai business practices that foreigners cannot replicate.

There's nothing unique about 'Thai business practices' when it come to downstream oil and gas.

 

PTT, the Thai state oil company, has the lion's share in Thailand. Petronas, the Malaysian state oil company, has the monopoly in Malaysia. Etc., etc..

[kwilco]

PTT is the government firm favourite and competing with them has been nightmare - 10 years ago ESSO were going to give up, so they w=seem to have come up with a work around

[KhunBENQ]

22 hours ago, DrDave said:

Nothing unusual, retail prices fluctuate daily in step with with the global crude market.

There have been three(!) consecutive price hikes at PTT (which gives the direction).

And I bet: you pay for the price cap of Diesel since many months.

Filling up the "oil fund",

Next rise 0.30 Baht from tomorrow morning.

Diesel still capped at 35 (Bangkok, slightly higher upcountry).

Edited January 16, 2023 by KhunBENQ