Speaker Chokchai ATSAWARANGSALIT
Bangchak Petroleum foresaw the necessity for Thailand to have the capability to carry out the entire process of oil production by itself, in order to influence the price of oil in the marketplace, not letting it be controlled entirely by international oil concerns, and to maintain emergency reserves.
Bangchak Petroleum Public Company Limited was established by the Cabinet of Prime Minister Maj.-Gen. Prem Tinsulanon, in 1964, in order to operate the old Bangchak oil refinery that had accumulated huge losses, and assigned important duties of maintaining energy security for the benefit of the Thai public. The company was established with the following goals: To be a secure Thai company operating a petroleum business consistent with the commong good and to be a company that helps develop a better quality of life for all Thais.
Within 5 years, the company overhauled this failed business to achieve profits of 500 to 800 million baht per year. It became one of the top ten Thai businesses in terms of sales and was praised by influential members of the community as having set a good example, in terms of both organization and people.
Bangchak partnered with the Si Prachan Agriculture Cooperative in Suphanburi Province to establish the first cooperative gas station, which was expanded to support agricultural organizations in the community. Now, there are more than 500 community organizations that work together in unity and growth with Bangchak, strengthening the economy, improving potential, and providing useful benefits to over 1 million agricultural families around the country.
Furthermore, Bangchak has assisted in the promotion of guidelines for a sufficiency economy to help communities become self-sufficient and encourage the use of Thai products, in order to save foreign currency. They have encouraged communities to sell their products at shops in their service stations.
The next step for Bangchak will continue to follow the principle of “developing a sustainable business, environment, and society” by coordinating community networks, in order to provide a “community platform network for community businesses.” This will lead to the development of organizational or business networks at all levels from local to provincial.
Chockchai ATSAWARANGSALI is the Senior Vice President in Business Development of Bangchak Petroleum.