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Largest Oil & Gas Public Companies in Thailand
Benchmark revenue and EBITDA valuation multiples for public comps like
PTT, PTTEP, PTT Oil and Retail, Thaioil and Banpu.
 | Ptt PCL is an integrated national petroleum and petrochemical company based out of Thailand. The Group is organized into business groups based on types of products and services. The segments of the Group are Upstream petroleum and Natural gas business group which is further divided into Petroleum exploration and production business and Natural gas business. Downstream petroleum business group is divided into Oil and retail business; International trading business and Petrochemical and Refining business. New business and sustainability group includes emphasis on decarbonization to achieve the Net Zero Emission. | $1 | +21% | $32B | $49B | 0.6x | 4.1x | ||
| PTT Exploration & Production PCL is engaged in the exploration and production of petroleum in Thailand and overseas, and related business. Its segments include Exploration and production, which operates in oil and gas exploration and production both domestically and overseas, including overseas gas transportation pipeline in overseas, either as an operator or as a joint venture partner with international oil and gas companies. Its domestic projects are located in the Gulf of Thailand. Overseas projects are located in Southeast Asia, the Middle East, Africa, and other regions. Other businesses and corporate consist of investments in other businesses, such as new businesses for energy transition, related businesses, and corporate. | $4 | +30% | $18B | $19B | 2.1x | 2.9x | ||
| PTT Oil and Retail Business PCL operates in the oil and gas refining and marketing sector. The company is engaged in the distribution of petroleum products and retailing of non-oil products and services in both domestic and international markets. Its segments include Mobility Business, Lifestyle Business, and Global Business. The firm generates the majority of its revenue from the Mobility segment. | $0 | +9% | $5B | $4B | 0.2x | 5.1x | ||
| Thai Oil PCL operates an integrated business in oil refining and petrochemicals business. The company is engaged in oil refinery and distribution, petrochemicals, lube base oil and other businesses in domestic and overseas. It operates in the following reportable segments: Oil refinery, Lube base oil refinery, Aromatics and LAB, Solvent, Power generation, Ethanol, Olefins, and Others. The majority of the company's revenue is derived from the Oil refinery segment. Geographically, it generates the maximum revenue from Thailand, followed by Indonesia and other countries. | $1 | +71% | $3B | $4B | 0.3x | 5.1x | ||
| Banpu PCL is engaged in three core groups of businesses which are energy resources, energy generation and energy technology. The Group has operations in Thailand and overseas which are mainly in the Indonesia, People’s Republic of China, Australia, Mongolia, Socialist Republic of Vietnam, Japan, and the United States. The Group is organized into the following business segments: - Energy Resources: operates in coal sales and production both domestically and overseas. The Group also operates in gas production in the United States. - Energy Generation: operates in electricity generation which consists of thermal and renewable energy both domestic and overseas. - Energy Technology: operations comprise solar rooftops, electric vehicles, energy storage, and energy management systems. | $0 | +40% | $2B | $7B | 1.3x | 7.0x | ||
| Bangchak Corp PCL is a Thailand-based energy company that engages in petroleum refining. The company operates in six reporting segments: Refinery and oil trading, Marketing, Electricity, Bio-based product, Natural resource. Majority of revenue is from Refinery and oil trading. The company Thailand, Singapore, Norway, Laos, Korea, and Others, with maximum of revenue from Thailand. | $1 | +10% | $2B | $5B | 0.3x | 4.0x | ||
| Median | $1 | +26% | $4B | $6B | 0.5x | 4.6x |
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