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PTT Public Company Limited

PTT Public Company Limited was registered on 1 October 2001, according to the Corporatisation Act B.E. 2542 (1999). The business, rights, liabilities, obligations, assets and employees of the Petroleum Authority of Thailand were transferred to the new company, PTT Public Company Limited.

555 Vibhavadi Rangsit Road
Chatuchak, Bangkok 10900
Tel +66 (0) 2537 2165
2537 2183
Fax +66 (0) 2537 2174
http://www.pttplc.com

Mr. Viset Choopiban - President

With an initial registered capital of Baht 20 billion, consisting of two billion ordinary shares, worth Baht 10 each, PTT has total assets worth Baht 293,971 million (as of 31 March 2002). The major shareholder is the Ministry of Finance.

Business focus

PTT Public Company Limited is an integrated gas company with a dominant position in oil marketing and trading. It also invests in domestic refineries and the petrochemical business. The company’s primary activities are:
* Exploration, development and production of natural gas, condensate and crude oil, through a majority-owned subsidiary, PTT Exploration & Production Public Company Limited (PTTEP)
* Procurement, transmission, processing, marketing and distribution of natural gas
* Marketing and trading of various crude oil, condensate, refined petroleum and petrochemical products.

Corporate governance structure

PTT Public Company Limited has 10 committees responsible for administration and management, namely:
* PTT Management Committee: PTTMC
* Oil Business Group Management Committee: OBMC
* Gas Business Group Management Committee: GBMC
* Petrochemical & Refinery Business Group Management Committee: PRMC
* Corporate Plan Committee: CPC
* Corporate Finance & Accounting Committee: FAC
* Corporate Human Resources Committee: HRC
* PTT Credit Commitee
* Supply Chain Management Committee: SCMC
* R & TI Board of Management Committee: RTBM

Good corporate governance

PTT Public Company Limited is the first company registered with the Ministry of Commerce to have introduced principles and policies of good corporate governance into its regulations, which act as a framework for the company’s management and operations. Shareholders can thus rest assured that PTT Public Company Limited is managed transparently, clearly and with accountability. The principles of good corporate governance of PTT Public Company Limited are as follows:
* Administration and management is conducted in a fair and transparent fashion, with its roots in three core principles: accountability, transparency and equality
* Committees are responsible for ensuring that policies and administration comply with the organisation’s objectives
* Executives manage the company according to the policy in order to create added value for the company without prejudice
* The company is highly principled and adheres to ethical codes of conduct
* The board of directors and executives have standards of mutual responsibilities for every group of stakeholders e.g. debt payment according to obligations, tax payment to the state, enhancement of the well-being of employees, assurance of product and service quality, environmental preservation and safety measures for the public.