Bangchak committed to develop sustainable business innovation in harmony with the environment and society through the 4S strategy


Security : Create energy security by focusing on the source of energy.

These are the core businesses of the Company that provide energy security for the country by implementing a joint business strategy among the Refinery and Oil Trading Business Group, Marketing Business Group, Clean Power Business Group, Natural Resources Business Group, as well as the Bio-Based Products Business Group to sufficiently supply, produce, and distribute oil and biofuel to meet the needs of both industries and the public. This aligns with the overall energy demand trend, and although electric vehicle usage is expected to increase in the future, these businesses remain essential for the country’s energy needs and continue to grow steadily. In September 2023, The Company acquired rights over the Bangchak Sriracha Refinery, operated by the Bangchak Sriracha Plc. (BSRC), a modern complex refinery with nameplate capacity of 174,000 barrels per day. The Company has two refineries with a combined nameplate capacity of 294,000 barrels per day, enhancing energy security according to strategy.


Synergy: Create collaboration to transform and create products and services covering all business groups.

The focus is on conducting businesses that align with the expertise of Bangchak Group and in line with the core business unit (S1), such as oil transportation and logistics, public utilities and energy infrastructure, food and beverage, and mining, to increase revenue and create shared value for the portfolio. In 2022, the Company established the Bangkok Fuel Pipeline and Logistics Co., Ltd. (BFPL), with plans to expand the business to accommodate a comprehensive fuel transport system. In 2023, the Company acquired shares in Bangchak Sriracha Public Company Limited (BSRC), which is an important step in upgrading the capabilities and potential of business operations. and established Refinery Optimization and Synergy Enterprise Company Limited (ROSE) representing a giant leap in elevating its capability as well as being a strong leader in the multinational energy business through synergy and the development of the Platform for Growth. Such endeavor is for sustainability, accessibility, and security in energy that is ready to drive towards a low carbon society.


Sustainability: Develop and extend core businesses to achieve growth and sustainability.

To develop related business that support or expand Core Business growth and sustainability to accommodate future technology and changes, and challenges posed by global climate change, The Company has accelerated its investment growth in clean and green businesses that aim for net zero and/or carbon neutrality. Examples include investment and development of the lithium battery business in preparation for EVs and development of high-value bio-based specialties with investment in Manus Bio Inc., a reputed global company with leading bio-innovative technology on advanced bio-fermentation. BiiC is a dedicated institute under Bangchak in charge of promoting innovations for the environment and society through investment in startups and partnering with external R&D organizations to relentlessly advance Bangchak’s green businesses and development of bio-based specialties for domestic and international markets. The Company established the BSGF Co., Ltd., a joint venture between BBGI Plc. and the Thanachok Oil Light Co., Ltd., to engage in the procurement of raw materials, the production and distribution of Sustainable Aviation Fuel (SAF) derived from used cooking oil. In 2023, Bangchak, through BCPG Plc., expanded investment into four natural gas power plant (CCGT) projects in the United States of America, with 857 MW already in operation, consisting of the 341 MW Carroll County Energy project (CCE), the 90 MW South Field Energy project (SFE), the 212 MW Liberty project, and the 214 MW Patriot project for the sustainable growth of clean power business.


Scalability: Build flexibility and focus on seeking opportunities and driving new business in the future (New S-curves) to support long-term growth.

To sustain long-term growth, Bangchak focuses on reforming its revenue stream that leverages new S-curve businesses that produce extensive benefits for the Corporation. At the same time, Bangchak is poised to deal with technological transformation, emerging risks, and market volatility. The Company continues to lead with the “4 Green Sustainability Strategy,” as a framework for business operations and investments.


Bangchak has adopted revised Vision, Mission, Core Value and 4S strategy

in each business unit’s strategy for continuing to maintain high performance and to balance the business growth. This leads diversification and synergy of its portfolio through 5 main businesses with acceleration in new economy (green) portfolio to achieve a target of Carbon Neutrality by 2030 and Net Zero GHG Emission by 2050 to support the energy transition while balancing energy security and committed to be the leader of the low-carbon society.

The 4 Green Strategy

GREEN Business

Bangchak focuses on investment in businesses that foster sustainable values. Besides growing revenue from new undertakings, this strategy represents green initiatives applied to businesses, including high-value bio-based products derived from agricultural produce via biotechnological innovation extended from biofuel production and sales. The Company also values green power businesses and energy management, among others, involving BiiC, which incubates startups to further Bangchak’s businesses in the future.

Bangchak focuses on environmentally friendly and safe operations with optimal efficiency in utilization of water and energy resources. To achieve these goals, Bangchak has adopted the operating systems certified by ISO 14001, ISO 50001, and Green Industry (Green Network) Level 5 of the Ministry of Industry standards in addition to Eco Factory from the Federation of Thai Industries, the occupational health and safety standard of ISO 45001, and advanced operating systems under Process Safety Management (PSM).

Bangchak strives to be a creative and sustainable destination of all age groups, focusing on leadership in developing greenovation through varied goods and services and non-oil businesses at “Bangchak”service stations, which serve as a destination that fulfills customers’ needs while 21 Bangchak Corporation Public Company Limited Form 56-1 One Report 2023 pursuing sustainable business development. To this end, we leverage our core competencies by 1) fulfilling customers’ and stakeholders’ needs and expectations; 2) procuring, developing, and creating innovations in oil and non-oil products as well as services to enable us to promptly respond to changes; and 3) operating businesses in conjunction with exercising sustainable stewardship of the environment and society. Our key strategies are as follows:

  • Greenovative Products : Bangchak strives for leadership in offering premium fuels in response to customers’ demands and benefiting the environment through meeting the Euro 5 standard which at present is present is Bangchak Hi Premium 97, gasoline with an octane rating of 97,the highest in the market (E20 S EVO Gasohol, Hi-Premium Diesel S).
  • Network Management : We strive to grow and develop service station formats to meet customers’ needs with a focus on areas of booming fuel demand and establish lucrative returns for partners’ investment through innovative service stations, surroundings, non-oil businesses, and unique design service stations to meet the various requirements of consumers. Our six designs are called Modern, Innovation, Eastern, Western, Fantasy, and Thai-inspired. We also advocate standard improvement and service station image both station structure and services to be ready for competition. In short, catering to customers’ needs and expectations is another key goal of the Marketing Business Group.
  • Non-Oil Offerings :A new business model has been developed through collaborations with leading Michelinaccredited restaurants to open their branches in Bangchak service stations such as Jae Dang Sam Yan Somtum, Khua Kling Pak Sod, Nai Uan Yentafo, Pad Thai Fai Talu. These restaurant branches have fulfilled the experience for our service station customers whilst creating increased revenues for the entrepreneur. Furthermore, the non-oil business has continually expanded in Bangchak service stations to offer added convenience for the customers. The coffee shop business under the “Inthanin” brand name and DAKASI Pearl Milk Tea are such examples of which Bangchak Retail has secured the rights to expand and manage at Bangchak service stations across the country as well as for business partners that cater to several convenience store chains such as Tops Daily, Family Mart, Mini Big C, and Lawson, to name a few. Bangchak also comprehensively manages the space within service stations by providing car care services under brand names such as FURiO Care, Green Wash, TYREPLUS, Wizard, and Autoclik. Joint expansion of branches with our partners include B-Quick and various lifestyle services ranging from laundry shops to courier services and vending machines.
  • Digital Experience :We apply technology to service and create new experiences for customers while relentlessly developing systems for convenience. We also connect to ecosystems in line with the requirements of today’s lifestyles. Cases in point are the application of digital payment and accruing loyalty points at the stations, all Inthanin branches, and convenience stores at the stations. To this end, customers simply scan QR Codes to pay through all bank applications, thus minimizing physical cash contact and maintaining distance between customers and service providers, in turn boosting service station patrons’ confidence. The improved digital card system allows customers to accrue points simply by giving their phone numbers at service stations, Inthanin, and business outlets affiliated with Bangchak and then redeem such points through the Bangchak application without having to use cards. Finally, Bangchak grows its customer base and gives members more choices through collaborations with partners, including transferring Bangchak points to AIS points, using Bangchak Paypoint to convert points into money at Thung Ngoen shops, transferring Bangchak points to MAAI points, and converting points into mutual fund payment.
  • Green Sustainability : In fostering steady business growth along with society and the environment, Bangchak constantly drives projects supporting social development participation in conjunction with customers and stakeholders through a variety of projects. This includes a refueling project where agricultural produce or farmers’ and SME entrepreneurs’ innovative goods, or both, are given to refueling motorists; and the project whereby organic vegetables are grown on service station premises and handed out to employees to lower their food bills as well as being given to station patrons. A byproduct created from this effort is the know-how in growing garden vegetables, which is shared with communities and schools around our service stations. Additionally, there is the Fry to Fly Project that offers to buy used cooking oil at selected Bangchak service stations to be converted into sustainable aviation fuel (SAF) that can reduce up to 80% of carbon dioxide emissions compared to conventional aviation fuel.

Bangchak strives to maintain the balance in business based on the concept of Greenovate to Regenerate. This is based on maintaining a balance between “value” and “virtue” to address the Energy Trilemma in the drive towards a lowcarbon society with the goal of achieving NetZero GHG Emissions by 2050, as well as maintaining a balance as an organization rich in ethics, responsibility for the environment and society, and corporate governance (ESG). This has been translated into the BCP316NET plan.

The C: Conserving Nature and Society

Plans aims to achieve the organization’s 10 percent GHG emission and to seek collaboration with our partners to develop the carbon credit from the forest and agricultural activities. The plan aims to mitigate the risks of the project as well as sharing the benefits from the project to cover the environment and stakeholders in society by developing Green and Blue Carbon ecosystems and the agricultural sector. The models comprise of land forestation, community forest conservation, mangrove forestation and conservation, sea grass source study, and carbon credit from the perennial crop development project.

The NET : Net Zero Ecosystem

Plan aims to promote the Net Zero Ecosystem in Thailand, covering the preparation for Thailand’s Carbon Neutrality by 2050 and Net Zero Emissions by 2065. Both targets are still new to Thai society; hence, the Company’s drive, with its partners, is in readying all the stakeholders both inside and outside the organization so that they will be knowledgeable, understanding, and have the relevant experience. Such efforts enhance the awareness of Thailand’s GHG management at all levels, from personal to community, SMEs, business organizations, and the public at large through the Carbon Markets Club, activities, and various projects such as Waste Reduction at the Source with Bangchak, Cooperative Network to Combat Global Warming, Thai Rice NAMA, Ruk Pun Suk Junior Program, and to create direct experience for the consumer from using Bangchak’s products and services as well. These include the Winnonie project as well as the Fry to Fly Project that collects used cooking oil to be converted into sustainable aviation fuel (SAF).

At the community level, Bangchak has been successful in maintaining the trust of its surrounding communities to reflect its amiability, usefulness, as well as trust in safety matters through activities that combine relations with quality of life in eight aspects. In 2023, the community engagement score for the Bangchak Refinery was as high as 89%. Furthermore, guidelines for operation have been expanded to determine the care process for the Bangchak Refinery’s neighboring communities to reflect the prototype of a safe and high-quality service station as well as the environmental model with social benefits.