Message from the Chairperson

Amid economic growth in a country facing challenges from weak foreign demand and domestic recovery, in 2023, Bangchak Group has stepped into the forefront of the leading energy business that is globally recognized, proudly marking a historical milestone with its success in expanding the business to enhance energy security, access to energy, and environmental sustainability. This represents an enhancement of the capability and potential to create long-term value for the business.

Message from Group Chief Executive Officer and President

Climate change remains a global priority in 2023. COP 28 focused on key issues such as energy efficiency, transitioning from fossil fuels to green energy, methane reduction agreements, and accelerating investment in new technologies to replace fossil fuels. These are clear signals that the world is prioritizing the transition to clean energy.

Business Overview

Bangchak Corporation Public Company Limited is a Thai energy company that operates in tandem with socio-environmental responsibility. Its core business is petroleum refining to produce high-standard products from domestic and international sources.

In 2023, our total production capacity was 294,000 barrels per day, consisting of 120,000 barrels of installed capacity from Bangchak Phra Khanong Refinery and 174,000 barrels of installed capacity from Bangchak Sriracha Refinery, from which products are sold through a network of 1,389 gasoline service stations nationwide supervised by Bangchak, with an additional 830 service stations acquired through business acquisitions, for a total of 2,219 stations. Also expanded its business into the oil trading business, clean energy business, biological products business. Natural resource business and new business development The company The ultimate goal is to create energy security for the country. Expand investment into new businesses to create continuity and sustainability for the business.

Total nameplate capacity of
KBD (2 Refineries)
Deliver products and services across the network of
service stations
(including additional network service stations acquired through Bangchak Sriracha Plc.)
Bangchak operates
Bangchak operates its refinery and oil trading business, marketing business, bio-based products business, clean power business, natural resources business and business development around 10 countries, which are Thailand, Cambodia, Laos, Vietnam, Singapore, Philippines, Japan, Taiwan, Norway and the United State of America

Financial Highlights 2023

Sales and Service Revenue
Million Baht
Total Assets
Million Baht
Million Baht


The Company is committed to meeting the needs and expectations of all its stakeholders, including the sustainable development goals (SDGs). It also applies the criteria for assessing its sustainability performance with national and global standards, covering governance, environmental, and social aspects to reduce risks and business impacts, and to explore opportunities for continuous improvement in work processes and operate the business with sustainability compliance with global sustainability standards in order to improve the adaptability of the Company to global changes and emerging issues.​

The Sustainability and Corporate Governance Committee (SCGC), working alongside the Enterprise-wide Risk Management Committee, oversees, reviews practices, and formulates policies regarding sustainability and corporate governance.​

The Company conducts its sustainability operations through supervision from the Sustainability Policy Committee (SPC), chaired by the Group’s CEO and president with business group executives and functional group managers acting as committee members.​

​ The SPC defines the goals, directions, policies, and strategies for the Company and its subsidiaries’ sustainability direction by aligning them with the SDGs, organizational sustainability assessments, and stakeholder expectations. It holds regular at least biannual meetings to ensure collaboration and communication.

The sustainability policies and goals established by SPC are implemented by various departments and committees related to corporate sustainability. The Sustainability Management Committee (SMC) oversees this process by monitoring, collecting, and evaluating the progress and performance of each unit and reporting the results to the SPC at least on a biannual basis. The SPC will then communicate the sustainability performance to the Risk Management Subcommittee, the Enterprise-wide Risk Management Committee, and the Sustainability and Corporate Governance Committee on a biannual basis, respectively. ​

The SMC consists of executives from Bangchak Group. In 2023, the focus is on developing a strategy to address climate change within the BCP316NET framework, aiming for the Net Zero GHG Emissions target by 2050.​

Bangchak at a Glance in 2023

Economic Growth
Revenue from selling of goods and services
Million Baht
Profit (loss) for the year
Million Baht
Dividend payment per share
Million Baht
Million Baht

EBITDA by business group

Refinery and Oil Trading Business Group
Million Baht
Marketing Business Group
Million Baht
Clean Power Business Group
Million Baht
Bio Based Products Business Group
Million Baht
Natural Resource Business and Business Development Group
Million Baht
Bangchak Sriracha Business Group
Million Baht

Corporate Governance

The excellent ranking (five emblems) under the CGR (Corporate Governance Report) survey of listed companies

Suppliers had been certified by the CAC
Percentage of executives and employees acknowledging the Anti-Corruption Policy and passing the test
No Gift Policy for
consecutive years
Percentage of notification of the online conflict of interest

Supply chain management

Local purchases of goods and services (Thailand)
Million Baht
* Local purchasing in Thailand, exclude raw materials and crude oil

Percentage of cost saving from strategic sourcing procurement in 2023

Percentage of tier-1 suppliers and critical non tier-1 suppliers participating in ESG risks assessment

Your Greenovative Destination

Bangchak service station
Million Baht
Customer satisfaction
Standard service stations
Community stations
Inthanin coffee shop
Additional network service stations
operated by Bangchak Sriracha Plc.
In Harmony with the Environment
Net energy consumption within the organization
Total GHG emissions Scope 1 and Scope 2
(Equity share approach)
MtCO2 eq
Percentage of GHG emissions
Refinery and Oil Trading Business Group
Marketing Business Group

Total water withdrawal

Million m3

(Produced water from crude oil extraction/ processing, groundwater and third-party water of the refinery)

Water recycled and reused of the refinery
Million m3
Effluent of the refinery
Million m3
3Rs waste management
of total waste

Environmentally friendly products

Number of significant oil and chemicals spill
(more than 100 barrels/time)
0 case
Numbers of accidents from product transportation
(financial loss more than 1 million baht/accident)
0 case

Download Report

Annual Registration Statement / Annual Report 2023 (Form 56-1 One Report)
Sustainability Report 2023