Thailand National Petroleum Company Limited

The National Petroleum Corporation of Thailand, also known as the Petroleum Authority of Thailand (PTT), is one of the two major departments (Mineral Resources Bureau and Petroleum Administration Bureau) under the Ministry of industry of Thailand. PTT, as an economic entity, exercises the management power of oil and natural gas and other resources in the territory of Thailand on behalf of the government. Its main business is: to be responsible for the exploration and development of oil resources owned by the government; to be responsible for oil refining and storage and sales of oil products; to be responsible for the utilization, management and transportation of oil and the processing and treatment of natural gas. PTT, headquartered in Bangkok, is a listed company controlled by the Thai government.

The National Petroleum Administration of Thailand was established in 1978. It is the oil and gas industry management organization and business entity under the Ministry of industry of Thailand. After the establishment of the Bureau, the former Thai Natural Gas Bureau, petroleum and fuel bureau and bangchak refinery were successively merged. The board of directors of PTT is composed of 12 ministers appointed by the government, with sippanndba ketudat, Prime Minister of Thailand, as its chairman. Pttep is a company in charge of upstream activities and forms joint ventures with private companies. These companies include the Thai Oil Co., bangchack oil company, NPC, Thai olefins Co., Ltd., Thai aromatics Co., Ltd., national fertilizer company (BFC) and Thai petroleum pipeline company Division, fuel oil pipeline transportation company, Bangkok aviation fuel oil service company.

PTT (Bangkok) is considering dividing its business into three parts: chemicals; research and production; and refining. The restructuring plan was completed in 2007. PTT said that its chemical business and PTT chemical will be built by the end of the year through the previously announced merger plan, that is, the merger of PTT's olefin production subsidiaries, national petrochemical and Thai olefins Co. The refining business will include the company's aromatics business, the company said. PTT plans to merge its aromatics (Thailand) and Rayong refinery subsidiaries next year, and merge the merged entity with PTT's Thai oil and bangchak Petroleum Corp. subsidiaries in 2007.

PTT also plans to acquire a controlling stake in Thai Petrochemical Industry (TPI) within the framework of a government-sponsored restructuring plan. PTT said it had not decided how to include TPI in the company's restructuring plan.