Upstream energy represents Bangchak’s core businesses leading to national energy security. Bangchak carries out this strategy jointly through its Refinery, Marketing, Natural Resource, and Bio-based Product Businesses by supplying, producing, and distributing refined products and biofuels to meet the demand of the business sector and the public—governed by the overall trend of energy demand. Though EVs command a growth outlook, today we still see these businesses of Bangchak as a necessity for growing national energy demand.
Bangchak manages its portfolio for growth with an investment focus on businesses with steady revenue streams as well as steady returns and low external risks (domestic and abroad), including green power plants (via BCPG) featuring streams of income. To diversify risks, the company engages in risk management throughout its production chain covering assorted businesses in order to sustain volatility.
Bangchak develops related businesses that support or extend its core businesses’ growth and sustainability to accommodate future technology and change, including the lithium battery business that accommodates EV car growth. Another example is the development of high-value bio-based products like bioplastics and bio-based products. In addition, Bangchak leverages innovations benefiting the environment and society via BiiC, which focuses on the pursuit of startup investment and R&D activities jointly with external agencies to relentlessly grow green and bio-based product businesses worldwide. To this end, Bangchak also established a “Bangchak WOW” model as the scope of collaboration with assorted partners in the public and private sectors covering Bangchak sites, Bangkok, and operating sites worldwide. The model embraces three main aspects. First, well-being improvement, meaning joint development of the quality of life in several aspects, including a given area’s garbage management, stewardship of communities, projects on business for the environment, development of vocational knowledge for groups of farmers, joint development of a grassroots economy, and development of community goods with expanded goods distribution channels. O stands for oxygen enhancement, meaning reforestation and tree planting, contribution to PM 2.5 reduction, and improved landscaping. W stands for water management, including joint care of rivers and canals as well as the vicinity, including the Chao Phraya River banks around Bangchak Port, Bang Krachao area, Bangchak Canal, and the mobilization of oilspill removal vessels to aid various operations on the Chao Phraya River.