PTT Public Company Limited or former the state-owned Petroleum Authority of Thailand was established on December 29, 1978, under the Petroleum Authority of Thailand Act B.E. 1978 to operate petroleum and other related businesses.
In a wake of intensified market competition, the government envisioned a need of increasing role of privatization in energy industry. On September 25, 2001, the cabinet gave consent to transform assets of the Petroleum Authority of Thailand into equity capital. Upon its resolution, PTT Public Company Limited or simply PTT Plc (Thai: ปตท.) was founded whilst the Ministry of Finance have a share of 51 percent as the largest shareholder.
Later, PTT was corporatized into a public company limited under the Corporation Act B.E. 1999 via the establishment of PTT Plc. On October 1,2001, maintaining the status as a state enterprise under the supervision of Ministry of Energy.
PTT Public Company Limited, a Thai Premier multinational energy company, has conducted integrated energy and petrochemical business as the nation’s energy company with a balanced mission to equally respond to all stakeholders; country, community and society, shareholders, customers, business partners, and employees. PTT strives to provide various energy forms to serve the growing demand in every Thailand sector whereas the company operates its business in alignment with a sustainability by leading its business ideal of social, community, and environmental responsivity through fair treatment.
As a result, PTT has successfully strengthened the national energy security of Thailand for 40 years and remains committed to creating sustainable growth for all.