Nature of Business

Bangchak Corporation Public Company Limited is a Thai energy company engaging in business alongside social and environmental stewardship. Its core business - petroleum refining - spans procurement of crude oil from domestic and overseas sources and refining it into various standard products. With a current production capacity of 120,000 barrels per day, Bangchak distributes its refined products to over 1,000 retail stations around the country. It has also spread its wings to other businesses, including power production from solar energy (solar farm) - a clean source of energy from nature, biomass energy, petroleum exploration and production, and innovation-oriented businesses. Bangchak’s mission is to enhance national energy security, while investing in new businesses to keep the organization moving forward and ensure sustainability.
Optimized Platform for Growth
  • Full Value Chain Integration
  • Diversified Business Portfolio
  • Strong Financial Discipline

Refinery and Trading Business Group

Our Complex refinery is fully equipped with value added conversion/extracting units which completely integrated with domestic trading network.


Our service stations are at the heart of demand and clustered around strategic locations throughout the country, in which we equipped non-oil business to maximize return per space utilization

Bio-Based Products

Secure feedstock and capturing biofuel demand

E&P Business
  • Adapt competitiveness for long-term
    Rationalized assets and implement Cost control
Green Power Plant

Stable earnings stream Green Power Plant business has a high visibility stream of cash flow

  • Complete mix of assets
    Producing assets, Development opportunities and Attractive exploration prospects
  • Refinery and Marketing business are the main source of overall earnings
  • Synchronization of benefit
    Being fully integrated model, the profit can be optimized through business cycle

Refinery and Trading Business Group

Bangchak boasts a modern complex refinery with a nameplate capacity of 120,000 barrels per day. Most of its yields are high-value gasoline and diesel.

The quality of gasohol and diesel from Bangchak refinery meet the public sector’s Euro 4 standard. Bangchak was the first in Asia to produce Gasohol E20 of the Euro 5 standard. The product is environmentally friendly with a sulfur content of lower than 10 ppm—fivefold reduction from the Euro 4 standard. The company strives for energy stability in the production process by leveraging electricity and steam derived from its cogeneration power plant, while replacing fuel oil with the cleaner-burning natural gas. Bangchak is now ready to raise the efficiency of its refining processes with the implementation of 3E and YES-R projects to increase the overall production capacity for optimal results.

  • Installation and commissioning of Advanced Process Control (APC) at Plant 2 and Plant 4 to raise process efficiency while reducing energy consumption
  • Preparedness of processes, oil tanks, oil pipelines, and oil vessels, leading to uninterrupted, efficient refining processes. As a consequence, Bangchak’s average capacity this year reached 101,000 barrels per day, higher than the goal of 94,000 barrels per day despite a 45-day planned maintenance turnaround (February 8 – March 23). The turnaround proceeded very efficiently and faster than planned, enabling the refinery to constantly maintain its high throughput.
  • Planning on crude procurement for high GRMs. Deployed the “roll month” contract to cut crude oil costs, with a resulting annual average market GRM of US$6.08 per barrel
  • Recognizing environmental and safety impacts during the maintenance work, Bangchak added measures to prevent harm to the environment together with safety measures by applying chemical contamination to all corners of the refinery to make it easier to clean equipment and cleaner as well as safer for workers. It upgraded work safety standards and forged a safety culture and awareness among all employees by pioneering the Process Safety Management (PSM) system in the refinery.

Marketing Business Group

This year, over 76% of refined products were sold through Bangchak’s retail network of over 1,075 service stations. Of this total, 460 were standard service stations and 615 were community service stations (as of the end of December 2016).

Bangchak currently comes in second in market share, encompassing industrial, transport, aviation, marine, construction, and agricultural sectors. In retail marketing, Bangchak stations focus on selling fuels from green, renewable energy, namely Gasohol 91, Gasohol 95, Gasohol E20, Gasohol E85, and Hi-Diesel. This year Bangchak unveiled its newly developed “Green S Revolution” products in the above-mentioned gasohol group, which represent innovation for direct injection gasoline engine (DIG). The new products raise combustion efficiency, enhance engine power, eases combustion pollutants, and preserve the environment. Also available at service stations to provide customers with the utmost convenience are supplementary businesses to attract more patrons to service stations, including a convenience store, a coffee shop, and fast cooked-to-order dishes, as well as lube oil replacement and car wash services.

Banghak’s convenience stores sell consumer products at Bai Chak , Lemon Green, Mini Big C stores at service stations occupying more space and close to communities (some 166 stores), and six SPAR supermarkets from the Netherlands, piloted at Bangchak’s service station on Ratchaphruek Road in Bangkok in November under the “SPAR Fresh & Easy Food Market” concept. Then there are some 402 Inthanin Coffee outlets, 46 premium Inthanin Garden cafes, and “Lemon Kitchen” fast, cooked-to-order dishes located on the compounds of service stations, at leading educational institutes, and now expanding to premium commercial locations. In addition, Bangchak boasts Green Series business chains, comprising Green Serve, Green Wash, and Green Tyre.

This year Bangchak further developed service stations under the “Greenovative Experience” format to accommodate new Thai lifestyles with a 4Rs process (renewable, recycle, reuse, and reduce). Featured are an installed solar rooftop to generate solar power; an EV charger for electric cars; an automatic plastic bottle collector for recycling into polyester fiber; collection of rainfall and used water to water plants; healthconscious coffee shops’ use of biodegradable cups and organic coffee seeds obtained through forest preservation and chemical-free fertilizers; application of energy-saving materials; and addition of green areas.

Apart from fuel products, Bangchak manufactures and sells special lubricating oil and products like transmission fluids, brake fluids, grease, and others under the “BCP Lubricants” brand, selling them to the domestic market through the Bangchak service station network, outlets, plants, and the OEM (original equipment manufacturer) market. A portion of these were exported.

Bio-based product business

Recognizing that renewable energy is imperative for national energy security through reduced trade deficits arising from oil imports, Bangchak promotes ethanol and biodiesel for blending in gasoline and diesel. Its products in this category include Gasohol 91, Gasohol 95, Gasohol E20, Gasohol E85, and Hi-Diesel.

This year Bangchak modified its vision to “Evolving Greenovation” in pursuit of a leading green innovation group of companies with a goal to conduct R&D to extend renewable energy in pursuit of green innovation. The former renewable-energy business unit was therefore restructured into “bio-based product business”, made up of:

  • Bangchak Biofuel Co., Ltd. (70% owned by Bangchak) engages in the biodiesel business based primarily on crude palm oil, with a nameplate capacity of 920,000 liters per day. Today, BBF has produced from a second biodiesel (B100) unit with a capacity of 520,000 liters per day, due for completion by this year.
  • Bangchak Bioethanol (Chachoengsao) Co., Ltd. (BBE)
    Located at Amphoe Phanom Sarakham, Chachoengsao, BBE (85% owned by Bangchak) engages in ethanol production with a capacity of 150,000 liters/day, with commercial production beginning this year. BBE enhances ethanol supply for Bangchak and accommodates the planned sales growth in E20 and E85 gasohols.
  • Ubon Bio Ethanol Co., Ltd. (with 21.28% shareholding), located in Na Yia district, Ubon Ratchathani province, produces ethanol and cassava flour. Its capacity is 400,000 liters per day of ethanol.

Green-power business

In 2015, Bangchak’s clean-power business was restructured with the establishment of BCPG Co., Ltd. (BCPG), to run and invest in the clean power business.

To this end, Bangchak sold its common shares in affiliates engaging in clean-power production, namely Bangchak Solar Energy Co., Ltd. and other five affiliates, to BCPG.

This year BCPG successfully listed on the Stock Exchange of Thailand (SET) with an IPO for up to 30% of its paid-up capital after the IPO to invest in more clean-power projects in Thailand and elsewhere.

Today, in Thailand BCPG runs solar farms known as Sunny Bangchak with a combined nameplate capacity of 170 MW, including those run by cooperatives in Ang Thong and Ayutthaya (totaling 12 MW), 7 MW of which went on commercial sale this year. This coming year will see 5 MW added to its generation and sale.

BCPG is striving to grow clean-energy business overseas by acquiring the business of SunEdison Japan, which owns four operating solar farms in Japan with a combined nameplate capacity of 13 MW; under construction and development are 185-MW facilities (as of February 2016). The company later completed the construction of the Nikaho Power Plant with a nameplate capacity of 13 MW and began commercial operation in July. Meanwhile, it acquired a solar farm of Huang Ming Japan Company Limited in Japan, which is under the developmental stage. As of the year-end, BCPG commanded a total nameplate capacity of 26 MW in Japan.

Natural resources and business development business

Incorporated in Singapore by Bangchak, BCP Energy International Pte. Ltd. (BCPE) engages in international businesses concerning energy, petrochemicals, and natural resources.

It currently holds common shares in Nido Petroleum Ltd., listed on the Australian stock exchange. Nido Petroleum conducts petroleum exploration and production with an investment focus in Southeast Asia. This year Bangchak recapitalized BCPE to enable it to add shares in Nido for assessment drilling in the Mid-Galoc area of the Galoc oil field from 81.25% to 96.98%.

Recognizing the robust demand trend for lithium for battery application in renewable power plants for enhanced stability in the power transmission system and generation from renewables, with a rising trend for battery application in electric cars, BCPE engages in innovation-based businesses overseas through investment in Western Lithium USA Corporation, later renamed Lithium Americas Corporation, listed on Canada’s stock exchange, and ran lithium mines in Argentina and the US.

Finally, this year Bangchak founded Bangchak Initiative and Innovation Center (BIIC) to engage in R&D, management of technology and networks, and incubation of startup businesses to drive Bangchak toward the “Evolving Greenovation” vision, a drive toward Asia’s leading green innovation companies equipped with good corporate governance. Above all, its business is to be run with inclusiveness and sustainability.