Saudi Arabian Oil Firm (“Aramco”) has collaborated with Thailand’s nationwide oil firm PTT, because it expands its downstream presence in Asia
The 2 corporations signed a memorandum of understanding at a ceremony in Bangkok on Could 11
The businesses purpose to strengthen cooperation throughout crude oil sourcing and the advertising and marketing of refining and petrochemical merchandise and liquefied pure gasoline (LNG). Different potential areas of exercise embrace blue and inexperienced hydrogen and numerous clear vitality initiatives.
Ibrahim Al-Buainain, vice-president, gross sales, buying and selling and provide planning at Aramco, mentioned, “At this time represents an essential step ahead as we deepen and broaden this relationship to realize larger cooperation throughout a variety of actions, from sourcing crude oil and advertising and marketing refining and petrochemical merchandise and LNG, to exploring blue and inexperienced hydrogen and progressing different clear vitality initiatives.”
Auttapol Rerkpiboon, president and CEO of PTT, acknowledged, “At this time marks a big milestone for PTT and Aramco as we glance to the longer term and lengthen our collaboration past typical vitality. It additionally displays our ongoing dedication to safety of provide as we embrace the vitality transition.”
Disathat Panyarachun, senior govt vice-president, worldwide buying and selling enterprise unit at PTT, mentioned, “PTT and Aramco have constructed sturdy ties across the provide and buying and selling of crude oil and different merchandise. Extending our collaboration throughout the worth chain to incorporate rising decarbonisation initiatives is a superb alternative to strengthen our relationship and foster additional enterprise development. This additionally aligns with our ‘inexperienced and clear’ technique which goals to scale back greenhouse gasoline emissions, as a part of PTT’s ‘Powering Life with Future Vitality and Past’ company imaginative and prescient.”