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Biodiversity

Challenges, Risks,

and Impacts

Biodiversity loss remains a significant long-term global risk, ranking among the top five according to the World Economic Forum (WEF) Report 2025. The extinction or decline of species poses severe repercussions on the environment, humanity, and economic activities. In particular, the increasing severity of climate change directly affects ecosystems and biodiversity, which are linked to the operations and activities of Thaioil Group and may result in impact ln the environment and biodiversity if not managed with due care and prudence.

Meanwhile, the Task Force on Nature-related Financial Disclosures (TNFD) has developed a framework addressing biodiversity, requiring organizations to integrate financial considerations in assessing risks and impacts regarding biodiversity that may affect their operations. Furthermore, under the Kunming-Montreal Global Biodiversity Framework, countries are being urged to adopt stricter measures to engage the private sector in biodiversity conservation.

However, investments and the development of projects that generate positive impacts on biodiversity, such as green area restoration projects, mangrove conservation projects, and the sustainable use of natural resources, will enhance the Company’s ability to access financing for environmental projects or green finance, as well as financial support from government agencies and financial institutions that prioritize sustainability. Collaboration with local communities and partner networks in the conservation of natural resources also helps strengthen the Company’s reputation and build stakeholder confidence in the Company as an energy leader the genuinely upholds environmental responsibility and long-term sustainability.

Commitment

Thaioil Group strives to conduct business with responsibility for society, environment, biodiversity, and ecosystem preservation. The Company has integrated the environmental impact assessment on biodiversity and forest areas into the business operation.

The purpose is to avoid and reduce the potential risks and support sustainable development in short-, medium- and long-term and all dimensions covering Economic, Environmental, and Social. Accordingly, the Company has established annual targets for 2025 and long-term targets under the 4Ns Commitment as follows:

Target

Completion of Marine Biodiversity Baseline Study

Target 2025

100

Percentage

Completion of Marine Biodiversity Baseline Study

Target 2025

100

Percentage

Completion of Wildfire Prevention Measures of Company-owned Projects

Target 2025

100

Percentage

Biodiversity Risk Assessment, Covering Own Operations, Adjacent Areas to Own Operations, Upstream and Downstream Activities

Target 2025

100

Percentage

No Deforestation Commitment

By 2035

No Net Deforestation (NND)¹

By 2040

achieve No Gross Deforestation (NGD)²

No Deforestation Commitment Biodiversity Commitment

By 2040

achieve No Net Loss (NNL)³

By 2050

achieve Net Positive Impact (NPI)⁴

Remarks :

No Deforestation Commitment

(1) Thaioil Group has set a commitment to achieve No Net Deforestation (NND) by compensating for any loss of forest area through forest restoration or reforestation activities.

(2) Thaioil Group has set a commitment of No Gross Deforestation (NGD); in all new business operations, there will be no clearing of any natural forests for future business activities.

Biodiversity Commitment

(3) Thaioil Group has set a commitment to achieve No Net Loss (NNL) of biodiversity by not encroaching on target areas related to biodiversity. However, the Company is in the process of studying to accelerate its target to the year 2030.

(4) Thaioil Group has set a commitment to achieve Net Positive Impact (NPI) on biodiversity in the long term by applying the Mitigation Hierarchy approach and the AR3T framework (Avoid, Reduce, Regenerate, Restore and Transform) to compensate for residual impacts and avoid or reduce impacts from future operations.

Management Approach

and Performance

Thaioil Group has elevated its commitment and responsibility towards biodiversity through the Quality, Security, Safety, Occupational Health, Environment and Energy Management policy, as well as Thaioil and Subsidiaries’ Biodiversity Statement, which has been reviewed and endorsed by the Board of Directors and the Chief Executive Officer and President to continuously drive maximum management effectiveness.

In 2025, Thaioil Group developed a biodiversity management framework in alignment with the Taskforce on Nature-related Financial Disclosures (TNFD) by implementing the LEAP (Locate, Evaluate, Assess, Prepare) framework as a systematic approach to biodiversity management and to analyse nature-related risks and opportunities. The framework comprises five key steps as follows:

  1. Commitment: Establishing long-term commitment or 4Ns commitment, including No Net Deforestation (NND), No Gross Deforestation (NGD), No Net Loss of biodiversity (NNL), and Net Positive Impact on biodiversity (NPI).
  2. Locate (Risk Area Identification): Using Integrated Biodiversity Assessment Tool (IBAT) and spatial analysis to identify proximity to protected areas and key biodiversity areas.
  3. Evaluate & Assess (Impact Evaluation & Risk Analysis)
  • Evaluate (Impact Evaluation): Applying Exploring Natural Capital Opportunities, Risks and Exposure (ENCORE) and World Wide Fund for Nature (Biodiversity Risk Filter (WWF BRF)  to assess relationship between business activities and ecosystems.
  • Assess (Risk Analysis): Defining and prioritizing nature-related risks and opportunities and integrate them into the enterprise risk management process.
  1. Prepare (Readiness Preparation): Establishing measures and indicators to monitor and evaluate biodiversity management performance.
  2. Mitigation Action (Impact Mitigation): Applying the Mitigation Hierarchy approach based on the AR3T (Avoid, Reduce, Regenerate, Restore and Transform) framework to compensate for residual impacts and avoid or reduce impacts from future operations.

Furthermore, Thaioil Group has applied to the Biodiversity and Ecosystem Service Manual that had been reviewed together with PTT Group Biodiversity and Ecosystem Service. This manual was developed from the integration of various national and international standards such as the Master Plan for Integrated Biodiversity Management, the GRI Sustainable Reporting Standard , TNFD Framework, IBAT, ENCORE, WWF, and others. The Company uses this manual to perform a biodiversity risk assessment within its businesses. In addition, the Company commits to No Net Deforestation by implementing reforestation and tree planting to compensate for any forest loss from our business activities and drives the business towards No Net Loss (NNL) of terrestrial and aquatic biodiversity.

Thaioil Group reports its biodiversity management performance to senior management and the Board of Directors to ensure that biodiversity management aligns with the corporate strategic direction and effectively responds to stakeholder expectations.

Biodiversity Risk

and Impact Assessment

Thaioil Group prioritizes the conservation and restoration of biodiversity within its operational areas to ensure long-term business sustainability, minimize environmental impacts, and reduce risks associated with biodiversity loss. These risks include:
  • Business Risks: Biodiversity loss driven by climate change, pollution, and seasonal fluctuations could lead to a scarcity of natural resources essential for Thaioil Group’s operations.
  • Regulatory Risks: The increasing stringency of environmental regulations, directly or indirectly linked to biodiversity, could raise business costs and complexities in operations.
  • Reputational Risks: Failure to manage biodiversity effectively may harm Thaioil Group’s corporate image and erode stakeholder trust, particularly among customers, vendors, shareholders, investors and business partners who value biodiversity management.
  • Environmental and Community Risks: Biodiversity loss could negatively affect community livelihoods and potentially create long-term impacts on Thaioil Group’s operations.

Therefore, Thaioil Group has applied several biodiversity risk assessment tools, including Integrated Biodiversity Assessment Tool (IBAT), ENCORE and WWF Biodiversity Risk Filter, and IUCN Red List. In addition, the Company has implemented the GRI Reporting Protocols to establish methodologies and guidelines for assessing risks related to biodiversity and ecosystem services.

Dependency-related Biodiversity Risks considered in Risk Assessment

Thaioil Group conducted risk assessment through the ENCORE tool for assessing the dependency on natural services. This tool ranks the level of dependency on natural services by industry type, such as oil refinery, power plants, and petrochemical. The assessment results indicate that Thaioil Group has a moderate level of dependency in the following issues:

  • Water Scarcity
  • Extreme Heat
  • Land, Freshwater and Sea Use Change
  • Tree Cover Loss
  • Pollution

Nevertheless, in 2025, the result of the biodiversity risk assessment indicated the risk at low level, because Thaioil Group’s business operational areas are located outside the High-Biodiversity Wilderness Areas with distance between the Company’s operational areas and High-Biodiversity Wilderness Areas exceeds 10 kilometers. The result of the biodiversity assessment of Thaioil Group is illustrated in the table below:
Number of Operational Sites
Area of Operational Sites
Rai
Hectare
Total operational site
1
605
245
Total operational site that are assessed
1
605
245
Total operational sites that face the risk exposure
0
0
0
Management Plan
0
0
0

พื้นที่ปฏิบิติการทั้งหมด

จำนวนพื้นที่ปฏิบัติงาน

1

จำนวน

พื้นที่ปฏิบัติงาน

23,610.25

ไร่

พื้นที่ปฏิบิติการที่ได้รับการประเมินทั้งหมด

จำนวนพื้นที่ปฏิบัติงาน

1

จำนวน

พื้นที่ปฏิบัติงาน

23,610.25

ไร่

พื้นปฏิบิติการที่เผชิญความเสี่ยง

จำนวนพื้นที่ปฏิบัติงาน

0

จำนวน

พื้นที่ปฏิบัติงาน

0

ไร่

แผนการบริหารจัดการ

จำนวนพื้นที่ปฏิบัติงาน

0

จำนวน

พื้นที่ปฏิบัติงาน

0

ไร่

Remark: Thaioil Group’s operational site covers Thaioil Public Company Limite (TOP), Thai Lube Base Public Company Limited (TLB), Thai Paraxylene Company Limited (TPX), LABIX Company Limited (LABIX), TOP SPP Company Limited (TOPSPP) in Si Racha and Sak Chaisidhi Complany Limited (SAKC) in Rayong.

Mitigation

Hierarchy

Thaioil Group has adopted the PTT Group Biodiversity and Ecosystem Service Manual and Assessment from Dow Jones Sustainability Indices (DJSI) to manage biodiversity and ecosystem services and conduct biodiversity risk assessments.

The Company also applies the Mitigation Hierarchy approach to avoid, reduce, restore and regenerate, and transform environmental impacts on biodiversity throughout the value chain and continuously monitor performance, with the following operational approach:

  1. Avoid: Avoid conducting business operations in critical biodiversity areas through Quality, Security, Safety, Occupational Health, Environment, and Energy policy, covering environmental impact assessment (EIA) and risk management. This extends measures to the supply chain to achieve No Net Loss (NNL), Net Positive Impact (NPI) and No Gross Deforestation (NGD).
  2. Reduce: Thaioil Group reduces impacts on biodiversity through the “TOP CE WE GO” project together with setting clear targets for reducing water usage and consumption. Additionally, the Company initiated several biodiversity impact reduction projects, such as the Green Product project (Green Product – Promotion of Green Procurement) and the Wastewater Treatment System Cover project (ETP Cover project) to reduce the emission of volatile organic compounds (VOCs) into the environment.
  3. Restore & Regeneration: Focusing on restoring ecosystems to their original state and conserving biodiversity through the improvement of existing projects, such as reforestation projects. Thaioil Group has conducted reforestation projects in various areas, including over 8,300 rai in Phrae Province and over 300 rai of mangrove forest projects in Trang Province. The Company continuously monitors and evaluates the performance.
  4. Transform: Building cross-sector collaboration with the government, industry, and communities to restore ecosystems and promote biodiversity. As a member of the Thailand Mangrove Alliance, the Company signed an MOU (Memorandum of Understanding) with the Department of Marine and Coastal Resources aiming to expand and restore mangrove forests. Furthermore, the Company is expanding cooperation within companies both domestically and internally throughout the supply chain to develop sustainable products and create innovations that strengthen ecosystem resilience in the long term.

อีกทั้งยังได้ประยุกต์ใช้หลักการบรรเทาผลกระทบตามลำดับขั้น (Mitigation Hierarchy Principle) ในการป้องกัน หลีกเลี่ยง บรรเทา ฟื้นฟู และชดเชยผลกระทบทางสิ่งแวดล้อมต่อความหลากหลายทางชีวภาพตลอดห่วงโซ่คุณค่า

The Participation Network
on Biodiversity to mitigate impacts on ecosystem

External Organizations/ Agencies

The Institute of Marine Science of Burapha University, Bang Saen

Collaboration with Biodiversity Networks

Study the marine biodiversity at the port of Thai Oil Public Company Limited.

Cooperate on study project on the impact of crude oil spills on coral reef ecosystems and marine natural resources along the coasts of Si Chang Island and Khang Khao Island in Chonburi Province.

External Organizations/ Agencies

Office of Natural Resources and Environment, Chonburi Province

Naval Science Department

Department of Fisheries, Chonburi Province

Marine and Coastal Resources Office 2

Representatives from Environment and Pollution Control Office 13

Collaboration with Biodiversity Networks

Discuss and develop the monitoring and restoration plans with government agencies.

Determine the plan for monitoring and assessing environmental impacts in short, medium, and long term.

Develop the natural resources and the environmental restoration plan with the government sector and the public.

Participate in the signing ceremony of the Memorandum of Understanding (MOU) on cooperation with the Department of Marine and Coastal Resources (DMCR) as a partner in Thailand’s mangrove forest network.

External Organizations/ Agencies

Forest Resource Management Office 3 (Phrae)

Collaboration with Biodiversity Networks

Implement the 2024 Annual Reforestation Project in Phrae Province in collaboration with the chairman and members of the community enterprise.

External Organizations/ Agencies

Mangrove Conservation Center 22 (Palian, Trang)

Seaman Company Limited

Collaboration with Biodiversity Networks

Organize meetings to promote awareness and foster community engagement in the mangrove reforestation project in Village No 2, Ban Yong Star, and Village No 4, Ban Thung Ruangthong, Palian District, Trang Province.

Improve and restore mangrove forests and ecosystems.

Key Highlighted Projects

Year
Project
2020
  • Collaborated with PPT Group to develop the PTT Group Biodiversity and Ecosystem Service Manual
  • Conducted PTT Group Risk Assessment Tools to assess Thaioil Group’s biodiversity risks
2021
  • Reviewed the risk assessment results of Thaioil Group’s biodiversity and ecosystem service
2022
  • Announced Thaioil Group’s 2022 Biodiversity Management Statement
2023
  • Elevated Thaioil and Subsidiaries’ Quality, Security, Safety, Occupational Health, Environment, and Energy Management Policy and declared the Biodiversity Management Statement, both of which were endorsed by the Board of Directors
  • Conducted a project for studying and monitoring the impacts of the oil spill incident at the Single Buoy Mooring (SBM-2) on the environment and ecosystem along the coast of Si Chang Island, Chonburi Province
  • Conducted a study on marine biodiversity at the port of Thai Oil Public Company Limited
2024
  • Developed and prepared the Biodiversity and Ecosystem Services Management Guidelines for Thaioil Group
  • Reviewed biodiversity risk and impact assessments, including dependency evaluations for Thaioil Group
  • Initiated a three-year study project on the impacts of crude oil spills on coral reef ecosystems and marine natural resources along the coasts of Si Chang Island and Khangkhao Island in Chonburi Province
  • Launched a three-year study project on biodiversity of marine life in the area surrounding terminal of Thaioil Public Company Limited
  • Operated the coastal resources and ecosystem restoration project on Si Chang Island, including Si Chang Island Marine Species Bank Learning Center, by community for sustainable community
  • Conducted the Supplier Relationship Seminar (SRM) and communicated Sustainable Code of Conduct for Suppliers of Thaioil Group (SCOC) to suppliers of Thaioil Group in 2024
2025
  • Announced the Biodiversity and No Deforestation Commitment along with establishing related targets.
  • Developed Thaioil Group’s biodiversity management and ecosystem services (Biodiversity Management Plan)
  • Reviewed the biodiversity risk assessment, including the assessment of impacts and dependencies on nature-related services of Thaioil Group
  • Enhanced quality of life and built sustainable community foundations through the ‘From the Forests of Thaioil Group’ project. This initiative focuses on the restoration and conservation of forest resources while integrating systematic wildfire prevention strategies.

In 2025, Thaioil Group conducted the following biodiversity-related projects:

Thaioil Group has made significant progress in its reforestation efforts, planting over 8,300 rai of new forest

300-rai mangrove reforestation project in Trang Province

“Sustainable Energy of Healthcare & Education” Project 2025: Installation of solar power generation systems for public health agencies and educational institutions at 7 locations in Umphang District, Tak Province, and Phanom District, Surat Thani Province

“TOP Green X 2025” Project: Empowering youth to become environmental transformation leaders, in collaboration with Laem Chabang City Municipality, Ban Thung Community, and the Faculty of Kasetsart University, Sriracha Campus.

“Thaioil Internship Program 2025” Project: Providing Opportunities for interns to learn and cultivate a sustainable social and environmental awareness

“Rak Khao Phu Bai” Project: Volunteer power uniting to care for the forest

“TN Care Bears” Activity: Participating in wildlife conservation at Bang Lamung Wildlife Breeding Station

Volunteer Project: Maintaining marine ecosystem balance at Wong Amat Beach

“Shooting Seeds to Restore Green Forest and Combat Global Warming” Activity held at Khao Kheow Open Zoo

From Forests to Future: Thaioil Group Enhanced Quality of Life and Built Sustainable Communities through Reforestation and Wildfire Prevention

Thaioil Group Signed MOUs for CCUS Feasibility Studies and Low-Carbon Hydrogen Business Development in Collaboration with PTT Group

Thaioil Group has made significant progress in its reforestation efforts, planting over 8,000 rai of new forest

See more

Thaioil Group has conducted a feasibility study for installing a solar power system at Phanom Hospital in Surat Thani Province

See more

SAKC joined the 22th International Coastal Conservation Day 2024 activities in Rayong Province

See more

Thaioil Group conducted community engagement for sustainable afforestation

See more

“ESOL” volunteer, Thaioil Group participated in project of “Afforestation and Reparation for Khao Kheow Wildlife and Nature Education Center” in Sriracha District, Chonburi Province

See more

Thaioil Group organized 300-rai mangrove reforestation project in Chonburi Province

See more

Thaioil Group demonstrated its commitment as a member of the Thai Mangrove Network by participating in World Mangrove Day

See more

Thaioil Group implemented solar panel installation project for 5 Border Patrol Police Schools and Community Health Centers in Prachuap Khiri Khan Province

See more

Thaioil Group delivered solar power installation to Ko Sichang Hospital

See more

Thaioil Group participated in the “United Hearts for Coastal Conservation” project in honor of His Majesty the King’s 72nd birthday on July 28, 2024

See more

Thaioil Group promoted community economy and circular economy concept through the 2nd annual Thaioil Khlan Suk Market in 2024

See more

SAKC organized the 8th mangrove restoration activities at Pak Nam Prasae, Rayong Province

See more

Thaioil Group signed a Memorandum of Understanding (MOU) with the Department of Marine and Coastal Resources (DMCR) to become a member of the Thailand Mangrove Network

See more

2025

Performances

Download Documents

Thaioil and Subsidiaries’ Biodiversity Statement

Download

Thaioil and Subsidiaries Biodiversity Management 2025

Download

Thaioil Group has made significant progress in its forestation efforts, planting over 8,000 rai of new forest

In September 2024, the team from Social Enterprise Department of Thaioil Public Company Limited conducted a field visit to monitor the progress of the 2024 reforestation project in Phrae Province. The visit was joined by Associate Professor Dr. Lamthai Asanog, a forestry planting and maintenance advisor, and field officers from Forest Resources Management Office 3 (Phrae). Local leaders and members of the community enterprises responsible for the reforestation warmly welcomed the team. The inspection revealed significant progress, with over 5,000 rai of forest planted across five sites, marking an increase of more than 3,000 rai since August.

         Notable achievements include the completion of 800 rai at Ban Khon Pa Hin site, Village No 4, Mae Pan Subdistrict, Long District; 2,500 rai (Plot 1) at Ban Paopom-Dong Yang site, Village No 7, Na Phun Subdistrict, Wang Chin District; and 1,000 rai (Plot 1) at Ban Na Phun , Village No 1-2, Na Phun Subdistrict, Wang Chin District. Furthermore, two additional community enterprises are expediting their efforts to complete reforestation across the designated areas before the planting season concludes in October 2024.

Thaioil Group has conducted a feasibility study for installing a solar power system at Phanom Hospital in Surat Thani Province

On September 19, 2024, Thaioil Public Company Limited, led by Manager of Social Enterprise Department, conducted a field visit to assess the feasibility and readiness for installing a solar power generation system at Phanom Hospital, located in Phanom District, Surat Thani Province. This initiative is part of the Company’s “Sustainable Energy for Health Care” project in alignment with its vision to “Empowering human life through sustainable energy and chemicals”.

SAKC joined the 22th International Coastal Conservation Day 2024 activities in Rayong Province

On September 21, 2024, Mr. Kwanchai Chairek, Managing Director, Sak Chaisidhi Company Limited, led the employees, contractors, and their family to participate in the activity of collecting waste on the beach at Suchada Beach, Mueang District, Rayong Province. The activity was organized on the 22th International Coastal Conservation Day 2024 by the Industrial Estate Authority of Thailand (IEAT) in collaboration with the Map Ta Phut Industrial Estate Office and local companies from the Map Ta Phut and Ban Chang areas. The activity demonstrated the industrial sector’s commitment to preserving and restoring marine and coastal ecosystems while raising awareness for maintaining clean coastal environments.

Thaioil Group conducted community engagement for sustainable afforestation

On September 6, 2024, Mr. AJ Wisuthithawornwong, Manager of Social Enterprise Department of Thaioil Public Company Limited, led a team to host a community meeting aiming to raise awareness and encourage community engagement in the Mangrove Reforestation Project in Village No 2, Ban Yong Star, and Village No 4, Ban Thung Ruang Thong, Palian District, Trang Province. The meeting was conducted in collaboration with Seaman Company Limited, the organization overseeing the reforestation efforts in such area, and Mr. Nathorn Langlang, Director of Mangrove Conservation Center 22 (Palian, Trang). The project was attracted local residents who engaged actively in discussions and inquiries. In addition, the Company had the opportunity to explore local community’s lifestyles for developing the reforestation area together with creating revenue for the community’s sustainable growth.

          Meanwhile, the team conducted a site visit to the plantation area to monitor the progress of site preparation for mangrove planting. They found that the plantation area had attracted a variety of marine life and observed signs of local fishing activities. If the Company can restore the abundance to this forest, it will create long-term food security for both the local community and the animals in the area.

“EOSL” , Thaioil Group participated in project of “Afforestation and Reparation for Khao Kheow Wildlife and Nature Education Center” in Sriracha District, Chonburi Province

On August 24, 2024, 60 volunteer employees from the Laboratory Testing Department, Thaioil Public Company Limited, participated in project of “Afforestation and Reparation for Khao Kheow Wildlife and Nature Education Center” in Sriracha District, Chonburi Province. The Khao Kheow Wildlife and Nature Education Center is Thailand’s first official nature and wildlife education center open to the public. 

        The activity aimed to rehabilitate and enrich the forest ecosystem. EOSL volunteers planted trees in areas requiring restoration, aiming to revitalize the environment and restore its natural richness. Moreover, essential equipment such as chairs, tables, and electric kettles were donated to support the center’s operations for preserving forests and educating the public about nature conservation.

Thaioil Group organized 300-rai mangrove reforestation project in Chonburi Province

On July 31, 2024, the team from Social Enterprise Department of Thaioil Public Company Limited visited a mangrove reforestation project spanning 300 rai in Village No 2-4, Ban Yong Star and Ban Thung Ruang Thong, Palian District, Trang Province. The team was joined by Mr. Nathorn Langlang, Director of Mangrove Conservation Center 22 (Palian, Trang), and representatives from Seaman Company Limited, the organization overseeing the reforestation efforts in this area, for discussion on strategies and plan the mangrove planting operations aimed at restoring and improving the existing mangrove ecosystems to their former richness.

        This site marks the second mangrove forest reforestation project undertaken by the Company, following the initial project in Chonburi Province which has been officially registered under the Thailand Voluntary Emission Reduction Program (T-VER) by the Thailand Greenhouse Gas Management Organization at the beginning of this year.

Thaioil Group demonstrated its commitment as a member of the Thai Mangrove Network by participating in World Mangrove Day

On July 26, 2024, Thaioil Public Company Limited, as a member of the Thailand Mangrove Network, participated in the Thailand Mangrove Network Collaboration Announcement Ceremony, held in conjunction with the International Day for the Conservation of the Mangrove Ecosystem 2024. The event took place at the Bangkok Art and Culture Center, with Captain Rachot Phisitbanakorn, Assistant Minister of Natural Resources and Environment, presiding over the ceremony.

         The event featured an exhibition providing information about the Thailand Mangrove Network, along with a video showcasing the commitment of its members. Mr. Bandhit Thamprajamchit, Chief Executive Officer and President, expressed the Company’s dedication: “We are committed to supporting the conservation and restoration of mangrove forests through community engagement to foster sustainable growth in economic, social, and environmental dimensions”.

Thaioil Group implemented solar panel installation project for 5 Border Patrol Police Schools and Community Health Centers in Prachuap Khiri Khan Province

On July 19, 2024, Thaioil Public Company Limited, along with assistant project electrical engineers from the Asset Development Department and contractors, conducted an on-site inspection of the solar power system installation at five locations: three Border Patrol Police Schools – Ban Tha Wang Hin Border Patrol Police School, Ban Khao Chao Border Patrol Police School, and Ban Praek Takro Border Patrol Police School – and two Subdistrict Health Promotion Hospitals – Khao Chao Subdistrict Health Promotion Hospital and Bueng Nakhon Subdistrict Health Promotion Hospital – in Hua Hun and Pranburi District, Prachuap Khiri Khan Province.

       The project involves the installation of solar power systems with a total installed capacity of 40.92 kilowatts to enhance the energy security of remote public health facilities and educational institutions. This initiative aims to reduce the cost of transportation for teachers and medical staff, as well as decrease diesel fuel consumption for power generation and greenhouse gas emissions.

        Furthermore, Thaioil Group is committed to promoting knowledge about the use and maintenance of solar power systems among local personnel, aligning with the Company’s vision to “Empowering human life through sustainable energy and chemicals”.

Thaioil Group delivered solar power installation to Ko Sichang Hospital

On July 11, 2024, Mr. Bandhit Thamprajamchit, Chief Executive Officer and President of Thaioil Public Company Limited, presided over the handover ceremony for the “Solar Power Installation Project” to Ko Sichang Hospital. Dr. Anasit Salyapong, Director of Ko Sichang Hospital, received the project. Also, Mr. Thawatchai Srithong, Governor of Chonburi Province, and Dr. Apirat Katanyutanon, Chonburi Provincial Public Health Officer, graced the occasion with their presence. Thaioil Group has surveyed, designed, and installed a 52.70-kilowatt solar power system for Ko Sichang Hospital, which is expected to save 300,624 baht annually on electricity costs and reduce greenhouse gas emissions by 32.15 tons per year. 

            The hospital plans to utilize the savings from electricity costs for its “Stoke Risk Reduction Project”, which includes purchasing medical equipment to support emergency care for patients suffering from stoke or related conditions, such as blood vessel blockage, narrowing, or rupture, and to develop chronic disease patient projects.

ไทยออยล์ร่วมกับ สทช. 2 เทิดพระเกียรติ ร.10 ใน “โครงการรวมใจภักดิ์อนุรักษ์ทรัพยากรทางทะเลและชายฝั่ง เฉลิมพระเกียรติฯ”

เมื่อวันที่ 28 มิถุนายน 2567 คุณอรรจน์ วิสุทธิถาวรวงศ์ ผู้จัดการ กิจการเพื่อสังคม เป็นผู้แทนบริษัทฯ เข้าร่วม “โครงการรวมใจภักดิ์ อนุรักษ์ทรัพยากรทางทะเลและชายฝั่ง เฉลิมพระเกียรติ พระบาทสมเด็จพระเจ้าอยู่หัว เนื่องในโอกาส พระราชพิธีมหามงคล เฉลิมพระชนมพรรษา 6 รอบ 28 กรกฎาคม 2567” ซึ่งสํานักงานทรัพยากรทางทะเลและชายฝั่งที่ 2 กรมทรัพยากรทางทะเลและชายฝั่ง กระทรวงทรัพยากรธรรมชาติและสิ่งแวดล้อม ได้จัดขึ้น ณ ศูนย์ศึกษาธรรมชาติและอนุรักษ์ป่าชายเลน เพื่อการท่องเที่ยวเชิงนิเวศ จังหวัดชลบุรี โดยมีคุณชัยพร แพภิรมย์รัตน์ รองผู้ว่าราชการจังหวัดชลบุรี เป็นประธานในพิธี

       ในกิจกรรมดังกล่าว บริษัทฯ ได้ร่วมกิจกรรมปลูกป่าชายเลนและปล่อยพันธุ์สัตว์น้ํา (ปลากระพงและปูทะเล) นอกจากนั้น ยังได้สนับสนุนอาหารว่างและเครื่องดื่มให้แก่ผู้เข้าร่วมกิจกรรมดังกล่าวด้วย

Thaioil Group promoted community economy and circular economy concept through the 2nd annual Thaioil Khlan Suk Market in 2024

On May 29, 2024, Mr. Bandhit Thamprajamchit, Chief Executive Officer and President of Thaioil Public Company Limited, along with the management team, visited the 2nd Thaioil Khlan Suk Market. This event aimed to provide additional sales channels for products from communities surrounding the refinery, as well as shops in Chonburi and other provinces. It also served as a platform for shops to showcase and sell products co-created with Thaioil, such as scented candles made from slack wax by Thai Loop Base Public Company Limited. 

        The event featured activities promoting circular economy principles under the theme “Transforming Old into New in Go-Green Style”, encouraging employees to embrace reuse practices. Additionally, the Environmental Department organized a biodiversity exhibition to raise awareness about ecosystems among employees. The exhibition highlighted the Company’s ongoing studies on marine biodiversity near its terminal which emphasizes Thaioil’s commitment to sustainable marine resource management.

SAKC organized the 8th mangrove restoration activities at Pak Nam Prasae, Rayong Province

On May 26, 2024, Sak Chaisidhi Company Limited, led the employees, contractors, and their family to participate in the 8th “Plant a Forest, Love SAKC, Protect Mangroves” project. This project involves mangrove reforestation and the release of adult sea crabs to increase green areas for carbon dioxide absorption, aligning with Thaioil Group’s Net Zero Policy. Also, the event aimed to raise awareness among employees and their families about the importance of conserving marine and coastal resources. Furthermore, all participants visited the local community of Ban Kao, experiencing their way of life and supporting their economy by purchasing local products. This activity was organized at the mangrove forest area in Paknam Prasae, Klaeng District, Rayong Province.

Thaioil Group signed a Memorandum of Understanding (MOU) with the Department of Marine and Coastal Resources (DMCR) to become a member of the Thailand Mangrove Network

On May 2, 2024, Mr. Thirayuth Limanon, Manager of Corporate Affairs, represented the Company in signing a Memorandum of Understanding (MOU) with the Department of Marine and Coastal Resources (DMCR), becoming a member of the Thailand Mangrove Network. This event, which took place at the Lampan Meeting Room of the DMCR, brought together over 30 government and private sector organizations to collectively drive sustainable conservation efforts for mangrove resources, encompassing environmental, social, and economic dimensions. Dr. Pinsak Suraswadi, Director-General of the Department of Marine and Coastal Resources (DMCR), presided over the ceremony.

ประกาศกระทรวงสาธารณสุข เรื่อง การแจ้งข้อมูลที่จำเป็นเกี่ยวกับการเฝ้าระวัง การป้องกัน หรือการควบคุมโรคจากสิ่งแวดล้อมแก่ประชาชน ที่ได้รับหรืออาจได้รับมลพิษ พ.ศ. 2567

Embeds good corporate governance

Embeds good corporate governance, business ethics, and anti-corruption principles since the first day of employment. The Company integrates the principles into the orientation program for new employees and shared the CG handbook through the CG Reporting system. As a result, 100% of new employees acknowledged and participated in the trainings.

Organized knowledge sharing sessions to customers both in online and on-site presentations with various topics

Organized knowledge sharing sessions to customers both in online and on-site presentations with various topics such as Fundamental of Refinery Process and Business & Refinery Overview. This aims to enhance customers’ knowledge and understanding of the oil refinery industry and market.

Organized “Safety and Happy Hours” activity for drivers in 2024

Organized “Safety and Happy Hours” activity for drivers in 2024 to raise awareness on safety during product pickups for customer groups working at fuel stations, transport coordinators, ticket room staff, and other related units.

Organized cultural promotion activities through the “Cultural Activity” project.

Organized cultural promotion activities through the “Cultural Activity” project. The activity of this project aims to enhance the learning about national history and art together with customers at the Chao Sam Phraya National Museum, Phra Nakhon Si Ayutthaya Province.

Thaioil Innovation Awards 2024

Innovation Talk

Invited external speakers with expertise in innovation to share knowledge to employees. Notable speakers included Ajarn Thongchai Rojkangsadal from the Faculty of Engineering, Chulalongkorn University; Mr. Thana Slanvetpan, General Manager of AI and Robotics Ventures Co., Ltd.; Mr. Nattapat Thanesvorakul, a corporate innovation assessment consultant from RISE Accel Co., Ltd.; and Mr. CK Cheong, CEO of Fastwork Technologies Co., Ltd. In 2024, a total of 4 sessions were held with 15% increase in employee participation compared to the previous year. Moreover, the overall satisfaction level improved from 93 to 94 out of 100. There were many employees participating in each session reflecting to consistently positive response from them.

TOP BCG Updates

Prepared public relations materials in the form of monthly emails to enhance knowledge on BCG, a new economic model of the Thai government focusing on the three economic systems – Bio-Economy, Circular Economy, and Green Economy. The examples of contents involve electric vehicles, hydrogen energy, and other innovations for reducing global temperatures. In 2024, the overall satisfaction level was at an excellent level (97 out of 100).

TOP Innovation E-newsletter

Prepared the public relations media through weekly emails distributed to all Thaioil Group’s employees. The content will focus on promoting creativity, out-of-the-box thinking, and a growth mindset to cultivate the qualification of quality innovators and to build awareness of the importance of innovation in the present era. As a result, these activities have created good momentum and feedback for the Company. In 2024, the Company disseminated a total of 39 TOP Innovation E-newsletters with over 24,707 readers. Meanwhile, the readers’ satisfaction score was at an excellent level (97 out of 100).

Innovation and Learning Day 2024

Innovation Failure Challenge activity

Innovation Roadshow activity

Innovation Idea Challenge activity

Generating New Actionable Ideas through Change Agent SME
Idea Facilitation & LO Inspirer Workshop

Organized a workshop activity to develop the change agent by choosing the representatives from selected functions. The groups of change agents will be developed with the full knowledge, skills, and tools, to facilitate them to create innovation culture and invent new ideas within their functions.

CEO Townhall and Management Meeting

rganized a communication activity to encourage communication between the CEO and all employees to emphasize the Company’s direction, strategy, plans, and performance. This activity helps to ensure that employees understand and are aware of the top management’s commitment to bring changes to the Company and all employees. In addition, the progress of the Innovation Culture Awareness project will be regularly reported in the Company’s top management meetings to stimulate them to foster an innovation culture among employees.

Building Innovation Culture Awareness through Top
Management Workshop (Management Outing Workshop)

Organized a workshop activity for top management to be the leading change makers. This aims to create Innovation Culture Awareness for employees in their line or function through the core behavior of “Lead to Innovation Culture.” In addition, the workshop fosters them to exchange their experiences with external speakers on innovation creation, communication, and practices to apply the i-LEAD behavior as a role model.

Teach for Thailand Project

Objective

To develop potential changemaker teachers to serve as teaching assistants for middle school students.

Project Type

Teach for Thailand Project

Performances 2024

Thaioil Group has allocated budgets to develop teachers to be changemakers for the sixth consecutive year. In 2024, the Company funded two teaching assistants for science and mathematics subjects in junior high school at Wat Mano Rom School, Sriracha District, Chonburi Province, which is located close to the Thaioil refinery. This project was conducted for one year and achieved positive performance evaluations, including:
1. Taught a total of 489 students in science and mathematics subjects during the 2024 academic year.
2. Compared to the average post-test score (28.51) and the average pre-test score (27.57) in the first semester, there was an increase in the student’s academic performance, personality traits, and essential skills. Furthermore, it also found that changemakers fostered and developed student’s personality traits in terms of perseverance, growth mindset, and the ownership of their learning. Similarly, they also contributed to and improved student’s essential skills, consisting of critical thinking, collaboration, and self-awareness.
3. Adopted technologies in the teaching materials, such as videos, board games, and online programs. This resulted in the students’ development and foster positive attitude towards the studied subject through demonstrating the ability to answer questions, classify examples, and collaborate well in team with their classmates.
4. Majority of the students recognized the dedication and significant development in work performance of changemaker teachers.
5. The school director and staff were satisfied with the teaching performance of the changemakers. Their overall satisfaction score was 9.1 out of 10. Furthermore, 92 percent of respondents acknowledged that the changemakers were competent and possessed appropriate characteristics for performing the work in challenging contexts. Moreover, changemakers regularly exchange their knowledge with the students.

PTT Group Model School Project and CONNEXT ED Project

Objective

To support basic education and develop leaders in the educational sector, to become a significant force driving education through knowledge exchange, learning, and the development of schools with school executives.

Project Type

PTT Group Model School Project and CONNEXT ED Project

Performances 2024

In 2024, Thaioil Group conducted various activities under the PTT Group Model School and CONNEXT ED projects:
1. Artificial Intelligence (AI) Readiness Program: This program aims to encourage learning and provide knowledge for supporting the understanding of youth in Artificial Intelligence (AI) technology and the Internet of Things. Moreover, it also aims to encourage youth to recognize the importance of technology, including its impact on the nation’s development in terms of economy, society, education, and culture. As well as this project was also expected to inspire the next generation to pursue studies in science and technology, with the purpose of developing expertise in AI and IoT, which are the key drivers for the country’s future technological advancement. There are 2 schools under CONNEXTED project, with 6 participants.
2. Thaioil Group Volunteer Spirit Program aims to promote the employees to engage in volunteer activities by providing waste separation knowledge and participating in football, futsal, table tennis, and volleyball clinics for students in the communities surrounding the refinery.

Forest Planting Project for the benefits of Carbon Credits

Objective

To support the forest restoration and conservation target, which can extend Thailand’s green areas and reduce greenhouse gas emissions through enhancing carbon dioxide sequestration, coupled with improving the quality of life for communities surrounding the target forest areas.

Project Type

Forest Planting Project for the benefits of Carbon Credits

Performances 2024

Thaioil Group implemented reforestation projects for carbon credit benefits, covering a total of 8,656.22 rai as the following detail.
1. 8,300 rai of terrestrial forest in Phrae Province in collaboration with the Royal Forest Department.
2. 356.22 rai of mangrove forest in Chon Buri and Trang Provinces in collaboration with the Department of Marine and Coastal Resources.

These projects were expected to capture 88,000 tons of carbon dioxide equivalent over the 10-year project period and enhance biodiversity by selecting and planting local tree species in target forest areas.

In addition, to continue the implementation of reforestation and forest conservation, Thaioil Group has also supported the establishment of 4 community enterprises, which it does not only aim to distribute local incomes and encourage community economy, but it also aims to enhance the knowledge regarding to forest conservation. Furthermore, the Company also supports improving local quality of life through promoting job creation and advocating in educational, social, and cultural development in the communities.

Thaioil CE WE GO Project: Promoting Circular Economy Values

Objective

To raise awareness of energy and environmental conservation among employees and foster positive coexistence behaviors within the organization.

Project Type

Thaioil CE WE GO Project: Promoting Circular Economy Values

Performances 2024

In 2024, Thaioil Group conducted activities under the “Thaioil CE WE GO” project, as follows:

1. Organized 2 sessions of Green Office training for the Auditorium Building and the Thaioil Health and Learning Center, with the aim of preparing for registration of Green Office certification with the Pollution Control Department for both buildings in 2025. 
2. Conducted a study tour project with 10 representative households and the Ban Na Kao community committee by visiting the waste management model community project in Rayong Province.

Thaioil CE School Model

Objective

To raise awareness and contribute knowledge with students and youths on the importance of the Circular Economy (CE) and relevant topics.

Project Type

Thaioil CE School Model

Performances 2025

Thaioil Group has been implementing this project since 2022 to transfer systematic waste management knowledge to schools surrounding the refinery. In 2025, the program provided educational materials, supported waste sorting equipment, and featured training sessions by experts from the Thailand Greenhouse Gas Management Organization (TGO). Additionally, an upcycling invention contest was held to encourage the practical application of Circular Economy (CE) principles in daily life. In 2025, the project expanded its reach from 9 to 10 schools by adding Laem Chabang 3 Municipal School, aiming to cultivate a mindset of systematic waste management and promote the sustainable and efficient use of resources.

The Eco-Journey Project: Kasetsart University - Thaioil

Objective

To promote environmental education among youth, ensuring an accurate understanding of ecosystems while instilling a deep sense of conscience for nature and environmental conservation.

Project Type

The Eco-Journey Project: Kasetsart University – Thaioil

Performances 2025

Thaioil Group, in collaboration with the Faculty of Science at Kasetsart University (Si Racha Campus), promotes environmental education for youth living around the refinery. The program engages participants in exploring nature trails at Khao Nam Sap, located near the university. This experiential learning initiative combines classroom instruction with fieldwork, allowing participants to study forest ecosystems, flora, fauna, and the complex relationships between living organisms. Furthermore, the project aims to instill a deep sense of environmental conscience and a commitment to nature conservation.

TOP Green X Youth Environmental Conservation Project 2025: Empowering Youth in Forest Restoration and Adding Value to Recyclable Waste

Objective

To enhance understanding and awareness of environmental problems, especially the impacts of plastic waste on nature and ecosystems.

Project Type

TOP Green X Youth Environmental Conservation Project 2025: Empowering Youth in Forest Restoration and Adding Value to Recyclable Waste

Performances 2025

Thaioil Group, in collaboration with Laem Chabang Municipality, organized an initiative to enhance environmental knowledge and skills for youths from 10 surrounding communities, students from Laem Chabang 3 Municipal School, and students from the Faculty of Science, Kasetsart University (Si Rracha Campus). The program utilized hands-on learning processes, including tree planting for green space restoration, educational sessions on carbon credits, and DIY upcycling workshops to create plant pots from waste materials. Additionally, a creative social media campaign contest was held to encourage environmental advocacy among the younger generation.

Aquatic Species Project in collaboration with the fishery communities

Objective

To restore the marine and coastal ecosystems and resources to a state of abundance.

Project Type

Aquatic Species Project in collaboration with the fishery communities

Performances 2025

Thaioil Group actively promotes the conservation of Thai seas through the “Releasing Fish Back to Nature: Restoring Ocean Balance” initiative, held at the Ban Ao Udom Fishery Model Community. To restore the marine ecosystem and natural balance, 3,000 barramundi fingerlings were released into nursing cages and the open sea in areas equipped with fish homes (artificial habitats) and artificial reefs. The project also included communication activities to educate and encourage the public and local communities to participate in the sustainable conservation of marine resources.

Educational Project

Objective

To provide educational opportunities for youth in Laem Chabang City Municipality and Si Racha District, while empowering them to develop their potential and contribute to society as key drivers of the country’s future development.

Project Type

Educational Project

Performances 2025

Thaioil Group provided 252 scholarships to primary, secondary, vocational, and university students who behaved well and were diligent in their studies. Additionally, the Company also provided 11 educational funds under the Thaioil Group fund to educational institutions, which are located in Laem Chabang City Municipality and Si Racha District. This fund has a total contribution amounting to 1,900,000 THB. Additionally, this fund is part of an annual program that Thaioil Group has consistently implemented to support education and foster academic excellence.

Community Economic Support Project

Objective

To enhance community capabilities through job creation projects in the Si Racha District at the Community Health and Education Center.

Project Type

Community Economic Support Project

Performances 2025

In 2025, Thaioil Group conducted community economic development activities as part of the Community Economic Promotion Project. The activities include:

1. The “Refinery Community Products” project, aimed at promoting careers and generating income for the “Loma Laem Chabang Community Enterprise.” The initiative involved participating in the KU Green Connect: Enactus & SX Exploration program to enhance entrepreneurial and marketing knowledge. Furthermore, it served as a platform to showcase Thai culture and community identity to international students at Kasetsart University, strengthening the local economy while ensuring the sustainable preservation of local heritage.
2. The “Supplementary Occupation, Increased Income Project”, aimed at enhancing the potential of the Loma Laem Chabang Community Enterprise. A study visit and operational exchange were organized at the Noen Krabok Women’s Farm Community Enterprise in Bo Win Sub-district, Si Racha District, Chonburi Province, on April 28, 2025. This initiative was designed to broaden knowledge, share experiences, and strengthen vocational capabilities, ultimately fostering community resilience and long-term sustainability.

100,000 km. Walk and Run Project

Objective

To encourage communities to engage in walking and running activities to enhance their physical health. The Company also shared healthcare knowledge for participants to apply to themselves as well as their families.

Project Type

100,000 km. Walk and Run Project

Performances 2025

Thaioil Group invited the community surrounding the refinery to engage in physical activity through walking and running, with a goal to collectively achieve 100,000 kilometers. Participants recorded their distances using the “Step Counter” application. Additionally, there were a total of 175 participants taking part in the activity, with twoscheduled follow-up events at the Thaioil Health and Learning Center for the Community to monitor progress.

Dental Health Promotion Project for Schools Around Thaioil Group

Objective

To promote oral health for students.

Project Type

Dental Health Promotion Project for Schools Around Thaioil Group

Performances 2025

Thaioil Group has provided dental services, including oral health check-ups, fillings, extractions, fissure sealants, fluoride coatings, and tartar removal. The initiative aims to promote cavity prevention and enhance oral health for a total of 5,500 students in grades 1 to 6 across eight schools in the Thaioil Group’s surrounding communities.

Project to Support Victims of Natural Disasters and Emergencies

Objective

To help and support the victims of natural disasters and emergencies in collaboration with the PTT Group.

Background

Thaioil Group has collaborated with the PTT Group to proactively aid affected individuals and alleviate the suffering of people affected by various natural disasters and other emergencies.

Approach

1. Monitor natural disaster situations throughout the country. 2. Provide assistance within the Company’s operational areas. 3. Coordinate with PTT Public Company Limited to extend assistance to areas outside of the Company’s operational areas.

Performance 2025

Thaioil Group, in collaboration with PTT Group, provides timely assistance to disaster victims nationwide. Support in the form of survival bags, beverages, and drinking water was provided for the following incidents:
1. Rescue personnel at the State Audit Office (SAO) building incident.
2. Those affected by the unrest along the Thai-Cambodian border.
3. Victims of flooding caused by Typhoon “Wipha” in Nan Province.
4. Flood victims in Sing Buri Province.
5. Flood victims in the Southern region of Thailand.

The “You Initiate… We Fulfil” Project: Year 5

Objective

Develop a volunteer culture by emphasizing employee engagement and leveraging staff competencies to develop projects that align with the company’s social responsibility direction.

Background

Thaioil Group is committed to stimulating and instilling a volunteer spirit among employees in accordance with the corporate value of “Social Responsibility.” To this end, the company has implemented the “You Initiate… We Fulfill” project, inviting executives, employees, and contractors to actively participate in social responsibility activities.

Approach

1. Publicize the projects in April 2025
2. Encourage employees to execute projects between May and November 2025 across four key pillars: 1) Health and Sports, 2) Energy and Environment, 3) Education, and 4) Social and Culture.
3. Provide a dedicated volunteer budget of 20,000 Baht per department to support these initiatives.

Performance 2025

Thaioil Group implemented social initiatives under the “Team Spirit for All” concept, inviting executives, employees, and contractors to lead social responsibility activities based on their specialized knowledge and expertise. To support these efforts, the company provided a dedicated budget of 20,000 Baht per department for necessary materials and equipment. The program saw participation from 36 departments and over 1,170 individuals, resulting in a total of 25 projects across various dimensions. These included utility system improvements, knowledge sharing on manufacturing cleaning products, and environmental restoration, such as electrical and facility repairs, producing medical supplies and handicrafts for the community, beach cleanups, enhancing food sources for wildlife, and landscape restoration—all aimed at fostering sustainable benefits for the community and the environment.

Sustainable Energy for Healthcare and Education

Objective

To enhance energy security through leveraging engineering expertise and energy management knowledge to implement solar power generation projects for hospitals and schools, effectively reducing their electricity cost burdens and allowing those savings to be reinvested into further social development initiatives while simultaneously reducing greenhouse gas emissions.

Background

Thaioil Group has utilized its engineering knowledge and expertise, which includes energy management experience, to execute solar power generation system installations for public health agencies and educational institutions since 2018. The project aims to encourage public health agencies and educational institutions to access alternative energy, reduce electricity costs, reinvest the savings into social initiatives, coupled with the reduction of greenhouse gas emissions.

Approach

1. Study the potential and suitability of the target areas through the expertise of Thaioil’s engineers.
2. Prepare a report of feasibility and investment cost-effectiveness analysis, including Social Return on Investment (SROI).
3. Propose the project and its budget for approval
4. Select supplier who will install solar power generation system for screened public health agencies and educational institutions
5. Monitor system efficiency, transfer technical maintenance knowledge, and deliver the completed project
6. Continuously monitor and evaluate the project, as well as apply for permits (in case the solar power system has to connect with the Provincial Electricity Authority’s transmission network).

Performance 2025

In 2025, solar power generation systems were installed at 1 hospital in Surat Thani Province, as well as at 2 sub-district health promotion hospitals and four Border Patrol Police schools in Tak Province, with a total capacity of 122.1 kW. The implementation of this project resulted in annual savings of 1.3 million THB. The savings from reduced electricity costs were used to purchase medical equipment and creating educational opportunities for schools in remote areas. Additionally, this project was also able to reduce greenhouse gas emissions, which equal 83 tons of carbon dioxide per year.

Project for mitigating the oil spill impacts

Objective

To restore marine and coastal natural resources, as well as to enhance biodiversity.

Background

In response to the crude oil spill incident at the Single Buoy Mooring (SBM-2), the Company has taken proactive measures to mitigate impacts on affected stakeholders. This includes providing relief to those affected, as well as rehabilitating marine natural resources, biodiversity, and the local economy within the impacted areas.

Approach

1.Conducting systematic measurements and continuous monitoring of marine environmental quality parameters.
2. Establishing a dedicated task force to develop and implement a robust rehabilitation plan for marine and coastal ecosystems as well as marine life and biodiversity in all affected areas.

Performance 2025

Following the crude oil spill during a transfer operation at the Company’s Single Buoy Mooring (SBM-2) on September 3, 2023, and upon the full completion of compensation for affected parties, a task force was appointed. This task force was tasked with developing a restoration plan and scope for natural resources, marine and coastal ecosystems, and biodiversity in the impacted areas. The process involved gathering input from academics, government agencies, affected stakeholders, independent organizations, and various NGOs, while coordinating closely with relevant public agencies. This resulted in the presentation of a 3-year Environmental, Marine Ecosystem, Economic, and Social Promotion (Restoration) Plan, comprising a total of 20 projects, 18 of which have already been implemented.

Laem Chabang Youth Training for Jump Rope Championship Project

Objectives

1. To encourage youth to engage in physical exercise, enhancing their bone mass, muscle strength, and reducing the risks of heart disease for improved physical health
2. Encourage youth to exercise with jumping rope for using free time beneficially

Background

Thaioil Group has initiated the “Laem Chabang Youth Training for Jump Rope Championship Project” in collaboration with the Heart Foundation of Thailand Office under the Royal Patronage since 2011. This project aims to support and encourage physical activity among youth from 8 schools within Laem Chabang City Municipality. Furthermore, the project has contributed to the schools’ and the municipality’s reputation through participation in the Royal Trophy competitions organized by the Jump Rope Association of Thailand.

Approach:

1.Organize a meeting with the school director and physical education teachers from the 8 schools surrounding the refinery in Laem Chabang City Municipality, including Wat Mai Noen Phayom school, Wat Manorom school, Wat Laemchabang School, Baanchakyaichin school, Laemchabang 1 Municipality school, Laemchabang 2 Municipality school, Wat Ban Na (Fin Witthayakom), and Boonjitwitthaya School.
2.Plan the project and propose its budget for approval.
3.Conduct a training camp to develop the skills and potential of jump rope athletes, aiming to select participants for the national-level Royal Trophy competition.
4.Foster new youth athletes to participate in jump rope competitions with the purpose of enhancing the reputation of Laem Chabang City Municipality.

Performance 2025

1. The Company hosted the 1st “Thaioil NexGen Jump Rope Tournament 2025” from February 24–28, 2025, under the theme “Developing New Athletes into Rope Skipping Champions.” This tournament aimed to identify and prepare promising new talent for the 2025 Royal Trophy Jump Rope Competition (Newcomer Category).
2. Supported athletes to participate in the 3rd Jump Rope Championship competition for the Newcomer category on 7-8 June 2025, at the Prachaniwet Sport Center, Bangkok. As a result, they won a total of 14 gold medals, 12 silver medals, and 11 bronze medals. Additionally, Boonjitwitthaya School also won 3 royal trophies of Her Royal Highness Princess Maha Chakri Sirindhorn, while Wat Mai Noen Phayom School received one Royal Trophy, and both schools achieved the second-highest overall score.
3. Implemented the 2025 Skill Development for Jump Rope Champions Project to qualify and train athletes from eight participating schools, located near Thaioil, for national-level Royal Trophy competitions.
4. Supported over 60 local youth athletes to join the 16th Thailand’s National Jump Rope Competition on November 15-16, 2024, at the Nonthaburi Provincial Administrative Organization Gymnasium. Aimed at promoting physical health and encouraging productive use of free time among youth, the Company sponsored two teams: Thaioil Jump Rope and Thaioil New Wave. With over 60 youth participants, the teams successfully secured one Royal Trophy from Her Royal Highness Princess Maha Chakri Sirindhorn.
5. The Laem Chabang jump rope athletes were selected as national representatives to compete in several prestigious international tournaments, including the 9th Korea Open Rope Skipping Championship in South Korea, the UJR World Championship and World Cup 2025 in the People’s Republic of China, and the World Jump Rope Championships 2025 in Japan. Participation in these global stages represents a significant milestone in bringing pride and international recognition to both Thailand and the local communities surrounding the refinery.

The Responses to COVID-19 Pandemic Situation

  • Implemented the COVID-19 surveillance plan covering 3 phases. In Phase 0, or no infected cases, the prevention and surveillance measure will be emphasized. Phase 1 begins when there are suspected or infected cases in Thaioil Group but no impacts on business operations. The Company will then focus on controlling and limiting the spread of the virus. Phase 2 refers to the large number of infected cases in Thaioil Group and creating impacts on business operations. In this case, Thaioil Group will focus on relieving and recovering while the Emergency Control and Business Continuity Center will be activated.

Safety Knowledge Sharing and Engagement

  • Enhanced knowledge, capabilities, and skills of employees and contractors through a safety training center to provide knowledge on safety theory and practice. the Company also evaluated the capability of the employees and contractors, who performed safety-related tasks, and had a continuous Permit to Work System from the previous year. Meanwhile, the roles in emergency and crisis management were also assessed through the Competency Assurance System.
  • Upgraded safety culture in the workplace through Behavior Based Safety (BBS) training program. The BBS training course was designed to train the targeted employees (Train for the Trainers) in order to disseminate knowledge and act as role models for the other employees and contractors. Consequently, safety behavior will be observed, and the operation will be halted, particularly when unsafe conditions arise.
  • Provided training on the Permit to Work System and Clearance Certificate Signatory for those who are involved in performing duties in the work permit system.
  • Organized the “30-60-90 Days with No Harm, No Leak” to strongly emphasize and simulate employees and contractors, raising awareness of safety in the workplace. The goal is to achieve zero Medical Treatment Case (MTC).
  • Organized Thaioil Group QSHE Day 2023 to promote the safety culture for the employees and contractors by awarding and certifying those who have outstanding 2023 QSHE performance. The Company also organized exhibition booths to provide employees and contractors with safety knowledge and awareness.
  • Incorporated Line of Fire into the 12 Life Saving Rule in accordance with the International Association of Oil & Gas Producers (IOGP) guideline.
  • Raised awareness of potential hazards, such as the line of fire, and strictly ensured compliance with the 12 life-saving rules. The Company also encouraged workers to submit Potential Incident Report (PIR), emphasizing the significance of unsafe act and condition as specified in the pre-incident prevention measure.
  • Developed a Contractor Training Matrix to ensure that contractors, who perform the work in operational areas of Thaioil Group, have the suitable knowledge and skills relevant to their job positions.
  • Conducted training and knowledge sharing on safety, occupational health, and workplace environment for new employees and contractors. This aims to build awareness of basic risks and hazards in Thaioil Group’s operational areas, to recognize and understand the safety measures, and to mitigate risks in operations. The training courses include basic safety in refinery, basic firefighting, safety in confined space, and first aid.
  • Conducted specific safety knowledge training for employees and contractors to improve operational effectiveness, ensure safety, and comply with safety requirements. For instance, Authorized Engineer/Authorized Gas Safety Inspector (AE/AGSI) course, Clearance Certificate Signatory course, Authorized Gas Tester course, and electricity safety course.
  • Thaioil Group consistently prioritizes on a proactive strategy. The Company elevated the Management Walk and Talk activity to GEMBA Walk. The management executives conducted a site visit to inspect key activities by engaging in conversations with specific questions. This aims to create mutual understandings and to recommend safety practices in the activities that may pose risks on personal and process safety. The QSHE Rollout activity has been consistently organized with a focus on providing more accessibility. In addition, the campaign to raise awareness about quality, security, safety, and the environment for workers in all operational areas has been expanded to include all operational areas and encourage worker engagement. Moreover, Thaioil Group has applied appropriate management systems to achieve the sustainable development. The performance of such activities is regularly reported and discussed with the management executives for resolutions. Likewise, the annual management review is performed to determine improvement areas and develop annual plans, along with the regular communication with the employees to ensure effective and impactful practices.

Safety Management Improvements

  • Reviewed Permit to Work System, especially the work permits related to heat and ignition (Hot Work). Additionally, all relevant checklists were reviewed to ensure alignment with international best practices.
  • Conducted safety maturity assessment. In 2023, the Company scored 4.16 out of a total of 5.00 points. Thaioil Group prepared the Safety Culture Development Plan in 2023 to build awareness for employees and contractors towards an accident-free organization.
  • Reviewed Permit to Work Inspection by the Area Operation Officers and Safety Audit team to ensure that the practices are aligned with the requirements specified in the permits.
  • Conducted the evaluation of Health Performance Indicators based on the standards of International Association of Oil and Gas Producers (IOGP). In 2023, the Company scored 3.85 out of a total of 4.00 points. The Company commits to improve the development plan for management systems in line with criteria and requirements of the IOGP.
  • Enhanced contractor safety management to align with international best practices and conducted annual contractor safety performance evaluation by the third party. The evaluation covered safety management system and operational performance to evaluate the contractor. The contractor can be categorized by a color code, including green, yellow, and red. This code serves as the criteria for deciding whether the Company should continue doing business with contractors or not. In the case that the contractors categorized in the low level (yellow and red), the Company will allow them to present corrective action plan to remedy the identified issues to comply with requirements within a specific timeframe. In 2023, the Company has updated the “Contract SSHE Bidding and Close Out Evaluation”.
  • Reviewed safety practices for activities or tasks with accident risks, such as heavy lifting with crane, scaffolding, or electric device utilizing within the refinery area. Additionally, the Company conducted training and communicated to relevant employees and contractors to ensure compliance with the requirements.
  • Upgraded notification systems on abnormal or emergency situations for emergency personnel and relevant officers through SMS systems that will promptly notify relevant parties to provide the emergency response efficiently and on a timely manner.
  • Upgraded notification protocols for extreme weather, specifically thunderstorms within a 5-kilometer radius. This is to alert employees to prepare and implement specified safety measures. It also involves notifying emergency response teams for a prompt response in the event of a fire, particularly around the rim seal fire.
  • Reviewed Pre-Incident Plan at levels 1 and 2 to align with international situations and standards, conducted drills as planned to prepare an effective response in emergency situations. In 2023, the Company developed the pre-incident plan at level 2 to support the new production unit of CFP project.
  • Reviewed Emergency and Crisis Management Manual and prepared the emergency response plan to cover environmental and community emergencies. This aims to prepare for CFP project, which is expected to undergo commissioning and start-up in the future. 

Occupational Health and Safety Risk Assessment

  • Reviewed the identification and assessment of risks and hazards assessment that may cause major incidents. The Company identified the control and preventive measures, with constant monitoring for effectiveness. This also involved safety inspections, performance analysis, and provision of the corrective and preventive actions to avoid recurrence for employees and contractors. The safety performance was reviewed monthly and monitored by the management executives.
  • Assessed risks and hazards assessment with high severity and reviewed safety control and preventive measures. The proactive plans and measures on safety and security were established at different levels (defense in depth), covering all high severity risks and hazards, especially chemical spills. The emergency drill of each emergency level was conducted and further developed towards the crisis management level together with external parties and local governments. This process helps prevent and mitigate business impacts, ensuring that Thaioil Group can consistently manage and maintain severe risks at acceptable levels.
  • Reviewed major accident event profiles to be aligned with the risks. The Company also reviewed and conducted emergency and crisis drills, as well as the emergency response plan, according to international best practices. Moreover, the improvements were made to the Emergency Control Center to ensure it is up-to-date and more efficient.
  • Reviewed accident and incident management practices to cover every incident type, such work-related injuries, occupational illnesses, near-miss events, and other incidents including incidents in production processes. The Company also conducted severity and risk assessment through the Risk Assessment Matrix to select the appropriate investigating team and method based on the incident’s severity and risk level. To avoid recurrence, the root cause and appropriate preventative measures were implemented.

Operational Excellence to Business Excellence (O2Bx) Strategy

  • Adjusted the O2Bx strategy to become a world-class refinery and reviewed the corporate safety targets to align with the new strategy – No Harm, No Leak, Goal Zero.
  • Revisited the 5-year Occupational Health, Safety, Emergency and Crisis Management Plan to align with the internal and external environment, risks, the new strategic plans, and new corporate targets.
  • Assigned the management executives to present case studies and significant safety issues from both internal and external sources at the monthly Board Meeting to continuously develop and improve Company’s safety measures.
  • Organized an on-site visit with the CEO and President and the management executives during normal operations, maintenance downtime, and construction period to encourage the workers, demonstrate commitments on safe working conditions, and be the safety role model.

SMILE Activity

Working with the right to health

Thaioil Group has managed and prevented the COVID-19 pandemic through continuous healthcare measures for employees until they recover and safely enable a return to work. The Company’s measures and policies are aligned with the government guidelines. Additionally, the Company has ensured high efficiency in providing safety and instilling confidence among employees, contractors, business partners, and stakeholders of Thaioil Group. The Work From Home Policy has also been established to grant the employee’s rights to choose their most suitable work lifestyle.

Furthermore, the Company has developed the “People First for Employee Support Policy” to respond to the employees’ needs. Meanwhile, the Company provides the assistances to the employees and their families, as well as members of the Thaioil Group Retired Employee Club, who may face the challenges in respect to financial concerns, legal issues, physical health, mental health, alcohol and drug problems, marital problems, illness of family members, or childcare problems, etc. The support was provided in the form of benefits, welfare, or non-welfare. This program aids eligible individuals 24 hours a day, seven day a week.

Improving mental health care

Improving mental health care: The Company implemented the “5 Happiness Project” to enhance the New Normal Work Life and to enhance understanding of their own rights, including employee care and benefits for employees and retired employees. The key projects in “5 Happiness Project” are:

Ensuring education for all

Ensuring education for all: The Company provided knowledge and awareness on human rights for employees through the Human Rights E-Learning course in the “Thaioil Academy Application.” For other stakeholders, the Company consistently organized workshops and activities to enhance the understanding and knowledge of human rights, for example, the human rights lecture in Supplier Seminar 2023 at the Thaioil Conference Hall in Sriracha, Chonburi. Also, The Company raises awareness of human rights through the acknowledgment of the Thaioil Group’s Supplier Code of Conduct.

Collaborated with PTT Group to organize the PTT Group CG Day 2023 under the theme “Good to Great: CG Empowering for the Future”

Collaborated with PTT Group to organize the PTT Group CG Day 2023 under the theme “Good to Great: CG Empowering for the Future”. The event was held in a hybrid event to promote and empower the good corporate governance practices of the PTT Group, emphasizing employees at all levels within the PTT Group to comply with the principles of good corporate governance in their work. The event attendees included the Board of Directors, management, employees, and business partner representatives. In addition, regulatory bod representatives, such as from the National Anti-Corruption Commission (NACC), were also invited. The event attracted over 400 attendees, including partners, clients, and employees who were joined the live streaming on the event’s website.

Conducted the 2023 GRC Culture Survey

Conducted the 2023 GRC Culture Survey to assess the organizational culture in terms of integration of good corporate governance, risk management, internal control, and the compliance with laws, regulations, and requirements (GRC). The survey results will be analysed to develop plans for promoting and enhancing corporate governance effectiveness in the future.

Communicated the principles of good corporate governance

Communicated the principles of good corporate governance, business ethics, and anti-corruption through internal communication channels throughout the year, such as the GRC Corner column in the Akanee magazine (a corporate internal magazine) and the GRC Newsletter, with a total of 12 times.

Communicated the No Gift Policy

Communicated the No Gift Policy to all employees through internal communication channels in various forms, such as video clips and E-newsletters. The “Request letter to prevent giving gifts to executives and employees of Thaioil Group” was sent to the suppliers, customers, financial institutions, and other business partners to avoid and prevent any cause that may lead to actions that violate Anti-Fraud Policy.

Improved electronic learning media (E-learning)

Improved electronic learning media (E-learning), including CG Orientation E-learning for new employees, covering the principles of good corporate governance, ethical business conduct, and anti-corruption. Also, Anti-Fraud E-learning for current employees was improved to provide knowledge on the origins of fraud and preventive measures to avoid fraud within the Company.

Conducted activities to provide knowledge

Conducted activities to provide knowledge and promote transparent and fair work practices throughout the year of 2023. For instance, the Company organized the Compliance & CG Talk activity on the topic of Anti-Money Laundering and Countering the Financing of Terrorism, lectured by experienced legal professionals from the Anti-Money Laundering Office. The Law Focus activity was organized with the topic of Anti-Money Laundering and Combating the Financing of Terrorism, lectured by executives from the Export-Import Bank of Thailand (EXIM Bank). The GRC in Action event was held at the CEO Townhall during the 2nd and 4th quarters. The Good to Great CG Contest was organized to share the working approach that can promote CG practices in their own way.

SAP ECC

Thaioil Group upgraded the software and hardware of the current Enterprise Resource Planning (ERP) system, or called SAP ECC, to ensure its function remained efficient. This upgrade is a part of the preparedness before transitioning to the ERP system to SAP S/4 HANA in 2027.

Prominence Enhancement

Thaioil Group enhanced a data collection system for the sale of products. The system gathers information from different perspectives, such as types of suppliers, prices, sale volume, sale periods, and payment methods. These data will be used to analyze pricing structure and support the decision-making in the sale approaches for each supplier. This will increase the chances for the Company to generate higher profits in different and fluctuating markets. 

Predictive Maintenance Analytics

Thaioil Group developed a data processing system to maintain the key machinery and equipment in the production process. The process will predict the likelihood of damage to the machines and provide prevention in advance. This helps avoid unplanned shutdowns and maintenance while reducing the risks associated with such damages.  

JSKem Pte Ltd & TOPNEXT India Private Limited

JSKem Pte Ltd & TOPNEXT India Private Limited

www.jskem.com.sg 

TOPNEXT acquired a 60% stake in JSKEM to expand its business in the distribution of solvents and chemicals in Singapore and India. TOPNEXT India Private Limited (TX India) was established in 2021.

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PT. Tirta Surya Raya

PT. Tirta Surya Raya

TOPNEXT (TX) has acquired a 67% stake in PT. Tirta Surya Raya, which was established in 2019 as a distributor of solvents and chemicals in Indonesia. The company is headquartered in Tangerang, Indonesia.

TOP Solvent Myanmar

TOP Solvent Myanmar

In 2017, TOP Solvent Myanmar  (TSMM) established a representative office in Myanmar under the name TOP Solvent Company Limited (Myanmar Representative Office). This office serves as the company’s representative for liaising with customers and business partners to distribute petroleum and chemical products, as well as other petroleum-related products.

TOP Solvent (Vietnam) Limited Liability

TOP Solvent (Vietnam) Limited Liability

TOP Solvent (Vietnam) Limited (TSV) was founded on November 2, 2009, TOP Solvent (Vietnam) is 100 percent owned by TOPNEXT International Co., Ltd. and marks Thaioil’s first overseas investment. The company provides a diverse range of solvents and chemicals for industries including paint, coatings, thinners, adhesives, binders, electronic printing inks, cleaning agents, vegetable oil extraction, and the chemical industry. It operates warehouses in the Go Dau Industrial Zone in Dong Nai Province (southern Vietnam) and Hai Phong (northern Vietnam).

Sak Chaisidhi Company Limited

Sak Chaisidhi Company Limited

Sak Chaisidhi Company Limited (SAKC) is primarily owned by TOPNEXT International Co., Ltd., which is located in the Map Ta Phut Industrial Estate in Rayong Province. The company specializes in manufacturing high-quality hydrocarbon solvents for a range of industries, including paint, automotive rubber, adhesives, vegetable oils, foam, plastics, and copper mining.