Thai Oil Public Company Limited (Thaioil or 'the company') is an integrated oil refining company. It mainly supplies refined petroleum products. The company primarily operates in Thailand.
Thaioil produces petroleum products primarily for domestic distribution. To complement its core oil refining business, it is engaged through its subsidiary companies in related businesses of paraxylene, lube base oil, power generation, marine and pipeline transportation of oil, petroleum and petrochemical products, alternative energy, and solvents.
Thaioil operates through seven reportable segments: Oil Refinery; Petrochemical; Lube Base Oil Refinery; Solvent; Power Generation; Ethanol; and Marine Transportation Services.
The Oil Refinery segment is engaged in the crude oil distillation, conversion, and upgrading processes. As a part of this segment, the company operates Thaioil Refinery in the Cholburi province of Thailand. In FY2016, the company processed an average of 275,000 barrels per day (bpd) of crude oil and crude feedstocks. In FY2016, the Oil Refinery segment reported revenues of THB231,814 million, which accounted for 84.4% of the company's total revenue.
The Petrochemical segment operates through the subsidiary, Thai Paraxylene. Thai Paraxylene is mainly engaged in the upstream petrochemical production business. It has a capacity to produce a total of 838,000 tons per annum of aromatics including 527,000 tons of paraxylene, 52,000 tons of mixed xylenes, and 259,000 tons of benzene per annum. In FY2016, the Petrochemical segment reported revenues of THB19,414 million, which accounted for 7.1% of the company's total revenue. The Lube Base Oil Refinery segment is primarily involved in the production of lubricants. It has a production capacity of 267,015 tons of lube base per annum, 350,000 tons of bitumen, and 67,520 tons of TDAE (treated distillate aromatic extract), per annum. The segment operates through the subsidiary, Thai Lube Base. In FY2016, the Lube Base Oil Refinery segment reported revenues of THB11,123 million, which accounted for 4.0% of the company's total revenue.
The Solvent segment operates through the subsidiary, Thaioil Solvent. Thaioil Solvent is involved in solvent distribution in Thailand and operates two other subsidiaries: Sak Chaisidhi, which has a production capacity of 141,000 tons per annum; and TOP Solvent Vietnam, which is involved in solvent distribution in Vietnam. In FY2016, the Solvent segment reported revenues of THB7,540 million, which accounted for 2.7% of the company's total revenue.
The Power Generation segment operates through three subsidiaries: TOP SPP; and Global Power Synergy. TOP SPP is engaged in the power and steam generation at its two small power plants that produces 239 megawatts (MW) of electricity and 498 tons per hour of steam. Thaioil has 73.9% interest in Thaioil Power that produces 118 MW of electricity and 216 tons per hour of steam. The Global Power Synergy and its principal power plant of PTT Group has production capacity of 1,922 MW of electricity, and 1,582 tons per hour of steam. In FY2016, the Power Generation segment reported revenues of THB3,327 million, which accounted for 1.2% of the company's total revenue.
The Ethanol segment operates through the company's subsidiary, Thaioil Ethanol. Thaioil Ethanol holds interests in three manufacturing companies, namely: Maesod Clean Energy (30% holding of Thaioil), which has a sugarcane-based ethanol capacity of 230,000 liters per day; Sapthip (50% holding of Thaioil), which has a cassava-based ethanol capacity of 200,000 liters per day; and Ubon Bio Ethanol (21.3% holding of Thaioil), which has a cassava and molasses-based ethanol capacity of 400,000 liters per day.
In addition, Ethanol segment also has 100% interest in Thaioil Energy Services, which provides recruitment service for Thaioil and subsidiaries. Further, the segment has 20% interest in PTT Energy Solutions, which provides engineering technique consulting services; and PTT ICT Solutions, Which provides IT and communication services. In FY2016, the Ethanol segment reported revenues of THB1,016 million, which accounted for 0.4% of the company's total revenue.
The Marine Transportation Services segment operates through two subsidiaries: Thaioil Marine and Thai Petroleum Pipeline. Thaioil Marine is engaged in the domestic and international transportation of crude oil, petroleum, and petrochemical products. It provides five oil and chemical tankers with the capacity of 52,350 deadweight tonnage, three crude tankers VLCCs with the capacity of 881,050 deadweight tonnage, and 14 crew and utility boats with the capacity of 120 deadweight tonnage each. It owns a fleet of two large vessels for crude, feedstock and product storage and transportation services with the capacity of 200,000 deadweight tonnage, as well as for ship management services. Thaioil has 9.2% interest in Thai Petroleum Pipeline which is a multipurpose product pipeline transportation business and transports products such as unleaded gasoline, regular gasoline, jet fuel, and diesel. It has a transportation capacity of 26,000 million liters per year. Thai Petroleum Pipeline has 40.4% interest in PTT Plc, and 50.4% of interest in others. In FY2016, the Marine Transportation Services segment reported revenues of THB505 million, which accounted for 0.2% of the company's total revenue.
Geographically, the company classifies its operations into two segments, namely Thailand, other countries. In FY2016, Thailand segment accounted for 88.4% of the company's total revenues, followed by other countries with 11.6%.
Scope of the Report
-- About the Company - Historical Details, Current Ownership Structure and basic overview of Thai Oil Public Company Limited in terms of revenue, net income, and operating income.
-- Financials - Details about Thai Oil Public Company Limited listing status, annual financial reports (for the past 5 years), key financial highlights and region wise and category wise breakdown of their net revenue.
-- Products / Services - Listing of the company’s entire portfolio along with description of individual products / services providing a clear picture of their target audience.
-- Company SWOT Analysis - Outlines Thai Oil Public Company Limited’s strengths, weaknesses, and opportunities and threats facing the company.
-- Recent Developments - Showcases Thai Oil Public Company Limited’s recent developments including mergers, acquisitions, partnerships, collaborations, new product launches, investment and divestment plans.
-- Strategic Evaluation - Provides an overview of Thai Oil Public Company Limited’s corporate goals and strategic initiatives and evaluates their outcomes along with outlining any persisting legal issues and outlook of our in-house analyst panel on the particular company.
-- Technology Landscape - Details how the company allocates its IT budget across the core areas of its business, CIO/CTO Profile, Key IT Initiatives and Deals undertaken buy the company at present along with outlook.
Key Questions Answered
-- What domain does Thai Oil Public Company Limited operate and what are key points about it?
-- What is the product / service portfolio of Thai Oil Public Company Limited?
-- How has Thai Oil Public Company Limited performed financially from the 2013?
-- How does Thai Oil Public Company Limited rank among its peers in terms of revenue and market share?
-- What are Thai Oil Public Company Limited strengths and weaknesses and what opportunities and threats does it face?
-- What are Thai Oil Public Company Limited’s main growth strategies and how successful has the company been at implementing them?
-- What is the in-house technical capability of Thai Oil Public Company Limited? Where does it procure / outsource it?
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1. About the Company
1.1 History and Basic Facts
1.2 Ownership Structure and Key Executives
1.3 Head Office
1.4 Other Locations & Subsidiaries
1.5 List of Competitors
1.6 Employee Count & Distribution
2.1 Company Type (Listed / Unlisted)
2.2 Annual Statements
2.3 Key Financial Highlights
2.4 Region-wise Breakdown
3. Product / Services
4. SWOT Analysis
4.1 SWOT Overview
5. Recent Developments
5.1 Mergers & Acquisitions
5.2 Partnerships, Collaborations & Joint Ventures
5.3 New Product Launches
5.4 Business Expansion / Divestment
6. Strategic Evaluation
6.1 Corporate Strategy
6.2 Legal Issues
6.3 Analyst Outlook
7. Technology Landscape
-- 7.1.1 Industry Snapshot
-- 7.1.2 IT Spend
-- 7.1.3 Key Information Technology Trends
-- 7.2.1 IT Overview
-- 7.2.2 Key IT Technologies
-- 7.2.3 Recent IT Initiatives
-- 7.2.4 IT Outsourcing Engagements
-- 7.2.5 Key IT Management
-- 7.2.6 CIO/CTO Profile
-- About Us
-- Contact Us