PTT Public Company Limited is one of the leading energy concerns currently operating in Thailand. The company was founded in December of 1978 under the name Petroleum Authority of Thailand. Overall, PTT is one of the largest publicly owned corporations operating in the country, ranking #81 on the list of Fortune 500 companies.
The company’s core business involves oil and gas exploration and production, petrochemical product development and production, electricity production and the operation of retail gas stations.
Through the development of working partnerships throughout the world, PTT is involved in areas such as coal extraction in Singapore, natural-gas offshore field exploration, drilling and extraction in Mozambique, and the operation of approximately 58 retail gas stations currently operating in the Visayas region of the Philippines. The company has also partnered with a state-owned Indonesian oil company called Pertamins for the purpose of building and operating a petrochemical plant on Indonesian soil.
PTT maintains its primary headquarters in Chatuchak, Bangkok, Thailand. The company is led by Mr Tevin Vongvanich, who serves as both President and CEO. As of the end of 2014, the company employed just over 9,000 employees located in the aforementioned areas.
Aside from its oil and gas operations, PTT is also active in the development of educational programs designed to develop oil industry workers to work in many facets of the energy sector. This is done through a partnership with an organization called the PetroSkills Alliance. As part of this program, tests have been developed to help students easily identify weaknesses and areas of expertise.
On the financial front, PTT reported revenues of US$93.55 billion for the fiscal year ended 2014. These revenues translated to a net loss of US$1.5 billion, its first loss in 16 years. The company also reported assets of US$50.5 billion and Shareholders’ equity of US$19.8 billion.