TH

Shareholding Structure

The date to list shareholders is 3 March 2022

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Business Structure

The complex refinery of Bangchak operates with a nameplate capacity of 120,000 barrels per day (120 KBD). Most of the outputs are gasoline and diesel. The quality of its gasohol and diesel products meets the public sector’s Euro 4 standard. It raises the efficiency of its refining processes with the implementation of its Rocket and 3E Projects with greenhouse gas emission reductions. Bangchak focuses on energy stability in its processes by using electricity and steam derived from its cogeneration power plant while replacing fuel oil.

BCP Trading Pte. Ltd. (BCPT)
Incorporated in Singapore with a registered capital of USD30 million wholly owned, BCPT engages in commodity trading including crude oil, petroleum products, petrochemicals, other chemical products, and other downstream businesses.

Bangkok Fuel Pipeline and Logistics Company Limited (BFPL)
BFPL engages in the business of fuel transportation and logistics, which Bangchak holds 100%.

General Energy Manning Co., Ltd. (GEM)
Incorporated with Baht 1 million in registered capital, in which Bangchak holds 49%, GEM engages in the business of recruitment and human resource management.

Bongkot Marine Service Co., Ltd. (BONGKOT)
This joint-venture enterprise has a registered capital of Baht 240 million, in which Bangchak holds 30%. It engages in supplying and administration of floating storage units.

Fuel Pipeline Transportation Ltd. (FPT)
Bangchak holds 4.78%, FPT operates underground pipeline fuel transport. The multiproduct pipeline is laid parallel to the railway route from Bangchak Refinery to Don Muang International Airport Oil Depot via Chong Nonsi Oil Depot and ends at Bangchak’s oil depot in Bang Pa-in, Ayutthaya, and at FPT. A pipeline connection with the system of JP-One Asset Co., Ltd., made at the Makkasan area in Bangkok, supplies aviation fuels to Suvarnabhumi International Airport. FPI’s oil transmission pipeline system expansion project from Amphoe Bang Pa-in to the Phichit Oil Depot and the construction of the pipeline to Lampang oil depot has been completed in 2020.

The Marketing Business Group sells fuels and lubricants to consumers through Bangchak’s network of 1,277 service stations nationwide, made up of 662 standard and 615 community service stations, as of 31 December 2021. They also distribute products to industrial users and the transport, airlines, vessels, construction, and agriculture sectors, which provide convenience to customers. The stations offer supplementary (non-oil) businesses under the operation of Bangchak Retail Co., Ltd.

Bangchak Green Net Co., Ltd. (BGN)
Incorporated with Baht 1 million in registered capital, in which Bangchak holds 49%, BGN engages in service station administration and sales management of consumer products at Baichak and Lemon Green outlets.

Bangchak Retail Co., Ltd. (BCR)
This wholly owned subsidiary of Bangchak has Baht 1,500 million in registered capital. BCR engages in the food and drinks business to accommodate continuous growth in the retail business. BCR now has 817 Inthanin coffee shops (as of 31 December 2021).

Oam Suk Social Enterprise Co., Ltd.
Bangchak holds 50.40%, the company engages in the purchase of agricultural produce and organic crops for processing, marketing, distribution, and R&D.

Bangchak invests in the renewable-power business by holding 57.45% equity in BCPG Public Company Limited (BCPG), a SET-listed company. Its IPO took place on September 28, 2016. BCPG engages in investments in the power generation business from green energy sources (both domestic and overseas), such as solar, wind, and geothermal power projects.

BCPG Public Company Limited (BCPG)
BCPG has Baht 16.508 billion in registered capital, formed to engage and invest in green power businesses in and outside Thailand. At year-end, it commanded 504.7 megawatts (MW) in total capacity. In the past year, BCPG had invested in convertible bonds on VRB Energy, which engages in manufacturing and distributing a Utility-Scale Energy Storage System known as Vanadium Redox Flow, which is worth up to USD 24 million, and has signed a power purchase agreement (PPA) with Vietnam Electricity, a 25-year contract with a capacity of 600 MW at the Laos–Vietnam border.

Recognizing the significance of renewable energy in reducing trade deficits from imported fuels, thus enhancing national energy security, supporting farmers and conserving the environment, Bangchak advocates the blending of ethanol with gasoline, and biodiesel with diesel to form assorted graded of gasohol and biodiesel. Bangchak invests in bio-based products through shareholding in BBGI Public Company Limited (BBGI).

BBGI Public Company Limited (BBGI)
BBGI was incorporated through a merger between BBP Holdings Co., Ltd. (BBH), a subsidiary of Bangchak, and KSL GI Co., Ltd. (KSLGI), a subsidiary of Khon Kaen Sugar Industry Plc. with a registered capital of Baht 2.532 billion. In April 2018, it registered conversion into BBGI Plc., along with increasing its registered capital to Baht 3.615 billion by issuing 433.20 million recapitalization shares with a par value of Baht 2.50 per share for public offering. Bangchak currently holds 44.995% shares in BBGI, which manufactures and distributes ethanol, biodiesel, and by-products. BBGI’s subsidiaries and associates have a total capacity of 1,600,000 liters per day (600,000 liters per day of ethanol and 1,000,000 liters per day of biodiesel) with the following subsidiaries and associates:

Bangchak Biofuel Co., Ltd. (BBF)
Established with Baht 281.5 million in registered capital, in which BBGI holds 70%, BBF engages in the production of biodiesel from crude palm oil, a basic raw material, with the nameplate capacity raised to 1,000,000 liters a day. The company is located in Bang Pa-in, next to Bangchak’s oil depot in Ayutthaya.

Bangchak Bioethanol (Chachoengsao) Co., Ltd. (BBE)
BBE has a registered capital of Baht 500 million, in which BBGI holds 85%. Located in Amphoe Phanom Sarakham, Chachoengsao, it produces ethanol from fresh cassava, cassava chips, sugar, and molasses with a capacity of 150,000 liters a day.

KSL Green Innovation Public Company Limited (KGI)
KGI is wholly owned by BBGI with a registered capital of Baht 610 million. It engages in the production and distribution of ethanol obtained from molasses, a by-product of the sugar production process. Currently, KGI has two ethanol manufacturers operating in Bo Phloi District, Kanchanaburi, with a capacity of 300,000 liters per day and Nam Phong District, Khon Kaen, with a capacity of 150,000 liters per day, which is currently being renovated to increase the capacity by 200,000 liters per day.

Ubon Bio Ethanol Co., Ltd. (UBE)
UBE was incorporated with a registered capital of Baht 3.914.29 billion, in which BBGI holds 12.39%. Located in Amphoe Na Yia, Ubon Ratchathani, it engages in ethanol production using fresh cassava, cassava chips, and molasses as feedstock with a capacity of 400,000 liters a day. UBE’s subsidiary also engages in processing cassava into flour and generating power from the biogas derived from wastewater treatment from the flour and ethanol processes.

BBGI Utility and Power Co., Ltd.
Wholly owned by BBGI Plc, BBGI Utility and Power Co., Ltd. has a registered capital of Baht 50 million. It was formed to engage in the production and sale of bio-based energy, power, and public utilities.

WIN Ingredients Co., Ltd.

WIN Ingredients Co., Ltd., has a registered capital of Baht 320 million, with BBGI Plc. holding 51%. It was formed to engage in the production, sale, import, and export of all bio-based products and chemicals.

The other invested company is Ubon Bio Ethonal Co., Ltd. (UBE). As of September 21-23, 2021, the company offered its shares to the public, therefore decreasing BBGI’s equity from 21.28% to 12.39%.

This business group, one of Bangchak’s five core businesses, is in charge of the development of upstream petroleum businesses and battery energy storage systems, namely the petroleum exploration and production (E&P) business and the lithium mining business. Bangchak founded BCPR Co., Ltd., in Thailand, and BCPR Pte. Ltd. in Singapore, to engage in the petroleum E&P business. BTSG Co., Ltd., in Thailand, to engage in liquefied natural gas business and founded BCP Innovation Pte. Ltd., in Singapore, to engage in the lithium mining business and start-up.

BCP Innovation Pte. Ltd.
BCP Innovation Pte. Ltd. (BCPI), wholly owned by Bangchak, was incorporated in Singapore with a registered capital of USD 53.3 million to engage in the lithium mining business and other startup businesses. Currently, BCPI has the right to purchase lithium under the Lithium Purchase Agreement with Lithium Americas Corp. of up to 6,000 tons per year from the Cauchari-Olaroz project and has invested in many startup businesses.

BCPR Co., Ltd. (BCPR)

On July 12, 2018, Bangchak established a wholly owned BCPR Co., Ltd., in Thailand, which today has Baht 661 million in registered capital (6.61 million shares at Baht 100 per share). The objective is to engages in business operations by investing in natural resource businesses. BCPR has now invested in BCPR Pte. Ltd., founded in Singapore to invest jointly in OKEA AS, which engages in petroleum development and production in Norway.


BCPR Pte. Ltd.
BCPR Pte. Ltd., was incorporated in Singapore on July 12, 2018, with a registered capital of USD 18.2 million and is wholly owned by BCPR Co., Ltd. The company engages in foreign energy, petrochemical, and natural resources businesses and currently invests in OKEA ASA, which engages in local petroleum exploration, development and production in Norway.

OKEA ASA
OKEA ASA, a listed company on the Norwegian Stock Exchange, engages in Norway’s petroleum exploration, development and production. BCPR Pte. Ltd., Bangchak’s subsidiary, holds 45.71% shares in OKEA ASA. The company operates the Draugen, Gjoa, Ivar Aasen and Yme oil and gas fields (production commenced in Q4 2021) and holds or is developing the Grevling, Aurora, Falk oil and gas fields and several other fields in Norway. In addition, OKEA ASA is the operator of many fields and continues to strive for business opportunities to grow and expand through M&As.

BTSG Co., Ltd. (BTSG)
BTSG has Baht 200 million in registered capital, in which Bangchak holds 51%, to engage in the supply and distribution of liquefied natural gas and related businesses.

Thai Special Gas Co., Ltd. (TSG)
TSG has Baht 50,000,000 in registered capital, in which Bangchak holds 5% equity, and operates the business of supplying, bottling, and selling industrial gases. This also includes design, equipment, and system installation, selling of tools and equipment, and testing services of equipment such as industrial gas tanks.

To pursue the position of the leading Asian Greenovative group, Bangchak expands its investment in emerging energy innovation such as lithium, used in the manufacturing of batteries for electrical vehicles (EVs) and extending bio-based products to add value to its current biofuel products. Bangchak set up four more venture-capital companies to engage or jointly invest in 10 domestic startup businesses, promoted by the government.

BCV Energy Co., Ltd. (BCVE)
BCVE, wholly owned by Bangchak, was incorporated with a registered capital of Baht 20 million to engage in the venture capital business for funding domestic startups relating to energy innovation.

BCV Innovation Co., Ltd. (BCVI)
BCVI, wholly owned by Bangchak, was incorporated with a registered capital of Baht 65.1 million to engage in the venture capital business for funding domestic startups relating to innovation.

BTSG Company Limited (BTSG)
(Former name BCV Partnership Company Limited)
BTSG has Baht 200 million in registered capital, in which Bangchak holds 51%, to engage in the supply and distribution of liquefied natural gas and related businesses.

WINNONIE Company Limited (Winnonie)
Winnonie has Baht 90.1 million in registered capital, BCVI holds 55.49%, to engage in electric motorcycles and battery replacement services, including related businesses that align with Bangchak's goal, leadership in green energy innovator.

Mee Tee Mee Ngern Co., Ltd.
Bangchak holds 20%, to engage in the business of land loan, consignment, and related businesses.

Data Cafe Company Limited (DC)
Bangchak holds 35% in DC, operating IT consulting services, research, and analysis of all types of business data, as well as providing IT service to business enterprise.