Coping with Disruption in the Era of Energy Transition

This Executive Talk was honored by Mr. Thamarat Paryoonsuk Senior Executive Vice President, Refinery Business Group, shares visions on coping with Disruption in the Energy Transition era.

What is Disruption in the Energy Transition era and how does it happen?

In the ever-changing world of the oil industry, it is a crucial period of transition driven by both direct and indirect factors, commonly referred to as the "Energy Transition” period. These changes have been brought about by human ingenuity in the past, as we extensively extracted fossil fuels without considering the consequences that would follow, such as climate change and global warming. We have now reached the point where we are increasingly paying attention to taking care of the world, causing significant disruptions in the oil business.

The disruptive of the oil business keeps us, as oil refiners, constantly pondering our strategies. We must continuously adapt by blending biofuels with fossil fuels, especially in the context of electric vehicles, in order to cope with the ongoing changes. Each day brings new disruptions, reminding us that immediate success is not guaranteed. We can only find solace in the small triumphs, knowing that every working day demands us to think ahead. We must introspect and ask ourselves, "How do we respond?". In fact, I would like to share a gentle reminder with everyone, including myself: "If we wake up one morning to realize that electricity has disrupted the oil industry, how should we adapt? How should we proceed?" This thought motivates people in refinery field to think and take actions whenever an opportunity arises.