Monday, February 6, 2023

Esso’s acquisition of Bangchak will make it the second largest oil retailer in Thailand

Bangchak Corporation Public Company (BCP) has reached a deal with ExxonMobil, the parent company of Esso (Thailand) Pcl, to acquire the company for 55.5 billion baht. This will make BCP the second largest oil company in Thailand with a market share of 29.1%, behind PTT Public Company’s 39%. BCP has promised that the 2,000 staff of Esso Thailand will remain employed and the acquisition will increase the oil refining capacity to 290,000 barrels per day and the number of service stations to 2,100. The deal is still subject to approval from the Thai Ministry of Energy and the Securities and Exchange Commission.

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