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Sustainable Supply Chain Management

SUSTAINABLE SUPPLY CHAIN MANAGEMENT

Challenges, Risks,

and Impacts

At present, Thaioil Group is undergoing a business transformation. In alignment with the new “2S1P” strategy, the portfolio has been shifting towards new, high-value, low-carbon businesses.  

This transformation is expected to create future growth opportunities, enhance long-term enterprise value, and expand the business into regional markets by increasing market share and expanding the customer base, in line with the business strategy. Due to procurement activities involving numerous domestic and international suppliers, the Company prioritizes and enhances its refinery supply chain management and mitigates future business risks. The Company has considered potential opportunities and impacts on Environment, Social, and Governance, or ESG, as key factors in business operations and continuity, while striving to enhance the quality of life and generate sustainable returns for all stakeholders. To ensure effective risk management in the procurement process, the Company has assigned the procurement function to regularly analyze and assess risks across various areas for all products and services, including supply and sustainability risks. This approach enables the Company to identify potential risks and challenges that may arise. As a result, a challenge in the Company’s supply chain is suppliers with high sustainability risks. They can pose negative impacts on the Company; resolving these sustainability risks before allowing those suppliers into the procurement processes is necessary. However, in the case that the Company discovers the sustainability risks during the operations, the Company will investigate the issue with the suppliers. If the supplier has a sustainability risk, the Company will issue a clear corrective action plan with a specific timeframe for the supplier to take corrective action immediately.

Furthermore, the Company has established a grievance mechanism for suppliers to raise concerns and complain during the procurement process. To ensure transparency and ethical business practices, this mechanism has been posted on Thaioil Group’s website and is governed under the internal audit process.

Commitments and Targets

Thaioil Group is committed to implementing sustainable procurement practices in line with Thaioil Group’s Sustainability Management Framework.  This framework considers sustainable business within the ESG dimension, along with the procurement principles of Clear, Fair, and Professional. This aims to integrate the procurement process to contribute to achieving business strategies in accordance with ISO 20400: Sustainable Procurement. This will minimize the chance of business disruption and delays caused by unforeseen events. At the same time, it will optimize resource efficiency management to gain a competitive advantage, create long-term mutual benefits for Thaioil Group and its suppliers, and maintain trust for all stakeholders. Therefore, the Company has determined key performance indicators (KPIs) in line with the Company’s performance as follows:

Targets

Strategic or significant suppliers acknowledged the SCOC

Targets 2025

100

Percentage

Long-term Targets 2030

100

Percentage

Key suppliers acknowledged the SCOC

Targets 2025

87.5

Percentage

Long-term Targets 2030

90

Percentage

New registered suppliers acknowledged the SCOC

Targets 2025

100

Percentage

Long-term Targets 2030

100

Percentage

Strategic or significant suppliers acknowledged the SCOC

Targets 2024

100%

Long-term Targets 2026

100%

Key suppliers acknowledged the SCOC

Targets 2024

85%

Long-term Targets 2026

90%

New registered suppliers acknowledged the SCOC

Targets 2024

100%

Long-term Targets 2026

100%

Management Approach and Performance

กลุ่มไทยออยล์ให้ความสำคัญต่อการเปิดเผยผลการดำเนินงานอย่างโปร่งใสผ่านการรายงานและการติดตามตรวจสอบความสำเร็จตามเป้าหมายเพื่อสร้างความเชื่อมั่นต่อผู้มีส่วนได้ส่วนเสีย จากการประเมินประเด็นที่สำคัญต่อความยั่งยืน (Materiality Assessment) ไทยออยล์ได้ตั้งเป้าหมายการดำเนินงานในระยะยาวของ 3 เรื่องสำคัญ (Material issue) ซึ่งส่งผลกระทบต่อองค์กรสูงที่สุดและสามารถสร้างคุณค่าต่อองค์กรในระยะยาว ดังนี้

To achieve sustainable targets across the supply chain, Thaioil Group established 2022-2026 strategic direction towards sustainable procurement excellence as follows:

Strategic Direction towards Sustainable Procurement Excellence 2022-2026

1.Business Excellence

The Company establishes a robust platform and adopts technology to enhance the efficiency of modern working processes, such as:

  • Procurement One Platform Development: The Company has integrated the data and operations from multiple systems into one platform. This increases the speed of data analysis and enhances the modern working processes.
  • Category Development: The Company has strengthened the procurement process by implementing a Procurement Management Review (PMR). This is a strategy to reduce costs from the procurement of goods and services.

2. Sustainability & Partnership Enrichment

The Company strengthens collaboration with suppliers together with conducting excellent and fair sustainable procurement to create shared value in terms of ESG and innovation. The initiatives include:

  • ESG Enhancement: The Company has collaborated with stakeholders, such as suppliers and business partners, to integrate ESG into procurement process. Moreover, the Company has elevated the relationship with suppliers to create ESG value together.
  • Green Procurement: The Company has promoted the circular economy strategy, called “Thaioil CE WE GO,” in Green Procurement. Green procurement has been implemented to stimulate the suppliers to develop their production process that produces environmentally friendly products and to avoid the negative environmental impacts across the supply chain.
  • Long-Term Partnerships: The Company has focused on the strategic suppliers and collaboration with the PTT Group to enhance bargaining power in negotiations.

Sustainable supply chain management strategy

The Company manages its supply chain under the principle of 4Ps (People, Patronage, Platform, Partnership) with the integration of POSITIVE values (Professionalism, Ownership and Commitment, Social Responsibility, Integrity, Teamwork and Collaboration, Innovation, Vision Focus and Excellence Striving), which are the Company’s core values to drive the strategy towards success with efficiency and effectiveness. The principle of 4Ps consist of the following.

1. People: the personnel of the procurement function, internal stakeholders, and suppliers will be developed to support the Company’s sustainability (ESG) targets.
2. Patronage: To deliver added values to meet the expectations of suppliers.
3. Platform: To implement reliable and global technology systems, such as SAP Ariba, and DocuSign, to improve business operations with suppliers. This aims to enhance accuracy, speed, clarity, and fairness for all suppliers towards the digital workplace.
4. Partner: To build partnerships with business partners and formulate key performance indicators (KPIs) in accordance with the Company’s targets.

In addition, Thaioil Group strives to create the foundation of sustainable procurement under the ESG principle. The Company integrates the ISO 20400: Sustainable Procurement Guidance into the non-hydrocarbon procurement process. Furthermore, the Company has reported the supplier practices and ESG programs to the executive management and the Board of Directors through the sub-committee, namely the Corporate Governance and Sustainability Committee (CG Board Committee), on an annual basis.

Moreover, Thaioil Group also performs Sustainable Supply Chain Management by integrating ethical practices and social and environmental responsibility into its operation of supply chain. This implementation aims to reduce negative environmental impacts, encourage transparency and accountability in all stages of the supply chain, as well as foster strong cooperations and good relationships between suppliers and stakeholders. Consequently, this implementation allows the Company to gain high-quality products and services, while simultaneously generating a positive effect on society and the environment. Overall, this Thaioil Group’s Sustainable Supply Chain Management Process is executed through Supplier ESG Program, which consists of 5 main steps as follows.

1. Supplier Portfolio Management

To ensure that the procurement of products and services is efficient and aligned with the corporate strategic target. The Company has started with the step of supplier portfolio management that Thaioil has the business with. This step involved encouraging suppliers to adhere to the Sustainable Code of Conduct for Suppliers of Thaioil Group (SCOC), which covers three dimensions: Environment, Social, and Governance (ESG). The purpose is to drive towards sustainable supply chain management, enhance strategic cooperation, and create long-term growth with suppliers. Therefore, new registered suppliers must acknowledge and comply with the SCOC.

In 2025, Thaioil Group reviewed and amended the SCOC to align with international standards and the changing global landscape. To ensure that all suppliers understand the SCOC, the Company has communicated the SCOC through Thaioil Group’s website and the annual supplier seminar.

Sustainable Code of Conduct for Suppliers of Thaioil Group Revision 2023

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2025

Performances

Thaioil Group expects all suppliers to acknowledge the SCOC. To ensure the supplier’s understanding of the SCOC, the Company has communicated the SCOC through Thaioil Group’s website and annual seminars with all suppliers.

Thaioil Group has conducted the supplier selection process through the Ariba System, which embeds the supplier selection criteria in a preliminary supplier assessment form. The criteria include the preliminary assessment of the quality of products and services, and supplier’s financial status. In addition, it includes the assessment of sustainable procurement on ESG aspects, consisting of product delivery information, safety management, SCOC acknowledgement, third-party verification such as ISO9001, ISO14001, ISO/IEC17025, OHSAS18001, and ISO50001. In addition, there is a data verification process to examine policies and corruption prevention measures for the suppliers who potentially have corporate governance risks, such as the suppliers who are working with government agencies.

2. Supplier Screening

To operate the business in accordance with the strategy of products and services, Thaioil Group classifies Tier-1 Suppliers based on business relevance analysis, spending analysis and a combination of sustainability risk and supply risk. These analyses are vital tools for Thaioil to explore the opportunity for cost reduction, risk management, and enhancing procurement efficiency. Furthermore, these analyses serve as the foundation of the supplier screening. The data from the analysis results can provide an overview of corporate expenditure and promote efficiency improvement, contract compliance, and cost management within the Company.

To identify supplier sustainability risks, Thaioil Group conducts supplier sustainability risk identification, covering ESG dimensions, based on analysis of country-specific risk, sector-specific risks, and commodity-specific risks, in accordance with Sustainable Procurement Guidance (ISO20400). Once the sustainability risks have been identified, an analysis to compile a summary of the risks associated with each supplier will be conducted. Finally, the result of supplier risk identification will be used to manage potential sustainability risks and select the suppliers for further supplier assessment process.

Additionally, Thaioil Group classifies Significant Tier-1 Suppliers, who directly supply goods or services to Thaioil Group, based on specific criteria as the following.

  • Strategic/ Critical suppliers with high importance to Thaioil business
  • Very High/High ESG Risk Suppliers

Lastly, Thaioil Group also places importance on Significant Non-Tier 1 Suppliers, who do not directly supply products or services to Thaioil Group, but they supply products or services to our Significant Tier-1 Suppliers.

Supplier Screening Process

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2025

Performances

3. Source to Contract Process

Thaioil Group recognizes the importance of sustainability and engagement to create a sustainable society. Consequently, Thaioil has integrated ESG principles into every step of its procurement processes to ensure that its suppliers strictly comply with Thaioil’s sustainability policy and strategy, as in the following example:

  • Integration of sustainability criteria or qualifications into procurement-related documents or requirements to mitigate potential ESG risks that may impact business operations during the sourcing of products and services.
  • Applying ESG requirements into the contracting process of suppliers to ensure that suppliers will adhere to sustainability requirements throughout the contract duration. Moreover, after signing the contract, the Company also continuously evaluates suppliers and monitors their ESG performance throughout the contract duration to ensure that suppliers still comply with Thaioil’s ESG requirements.
  • The post evaluation of suppliers after delivering products and services is conducted based on the priority of products and services. The sustainability topics are integrated into the evaluation criteria, such as the Security, Safety, Health, and Environment (SSHE) management and ESG management as well as the compliance with laws and regulations on the transportation of product and services, and the delivery of hazardous goods.

Source to Contract Process

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4. Supplier Assessment and Development

4.1 Supplier Assessment

Thaioil Group is committed to conducting supplier assessment on sustainability topics and promoting suppliers’ capacity on ESG management. The Company has established a long-term plan to proactively evaluate the strategic suppliers, based on the analysis results of suppliers who pose operational risks. This helps manage risks within the supply chain and achieve 100% of strategic supplier assessment on ESG risks by 2026.

In 2025, Thaioil Group conducted a supplier assessment on ESG risks as follows.

1. Supplier Desk Assessment: the Company examined the certificates and assessment report issued by the Independent Accredited Auditing Body, including ISO14001, ISO50001, ISO45001, OHSAS18001, ISO9001, ISO17025, ISO27001, Green Industry Standard assessments by the Ministry of Industry of Thailand, and the certifications from the Collective Action Against Corruption (CAC), Corporate Social Responsibility, and the Department of Industrial Work Award (CSR-DIW Award) by the Ministry of Industry etc.

2. Supplier On-Site Assessments – Thaioil Group conducted on-site supplier assessments on sustainability topic, classified into two types as follows:

    • 2nd Party Supplier On-site Assessments: The onsite assessments are conducted by Thaioil Group’s internal functions. For example, Waste Management Audits are conducted by Thaioil Group’s environmental team at the supplier’s site. Security, Safety, Occupational Health, and Environment (SSHE) practices are assessed by Thaioil Group’s safety team while the contractors are working in Thaioil Group’s operational area. Meanwhile, compliance with contractual requirement and relevant regulations of the suppliers in Thaioil Group’s operational area will be assessed by end-user functions, operational functions, and safety functions. Moreover, during major turnaround (MTA), Thaioil Group’s executives will participate in on-site assessments with contractors, Management Site Walk program, to ensure that significant suppliers comply with the SCOC.
    • 3rd Party Supplier On-site Assessment: The Company conducts onsite supplier assessment by Third Party Auditing Organizations that are accredited by the Standard-Setting Organization. In 2024, Thaioil Group collaborated with the Management System Certification Institute (MASCI), which is a network institute of the Ministry of Industry of Thailand, and operates under the Foundation for Industrial Development, to assess the Company’s sustainable management practices of suppliers who have high ESG risks and/or being the strategic/ significant suppliers. These on-site assessments are conducted based on the criteria developed from ISO20400: Sustainable Procurement to evaluate ESG aspects at the suppliers’ sites.

After supplier assessment, if any suppliers fail to pass or meet the assessment standards, Thaioil Group will work with the suppliers to develop corrective actions and improvement plans through online (remote) and onsite meetings. To ensure the issues are resolved systematically, each supplier will be provided with a corrective action plan (CAP) template. The CAP will require suppliers to record the non-compliance issues, root causes, and proposed solid solutions while the expected deadline must be specified in the CAP and submit the CAP to Thaioil Group within a specific period. Thaioil Group will then regularly organize meetings with suppliers to monitor the implementation progress and provide recommendations for further development and improvement. This collaborative approach not only mitigates potential ESG risks and promotes operational excellence, but it also fosters sustainable development in alignment with the Thaioil Group’s business practices. As a result, this builds trust and strengthens business relationships between Thaioil Group and suppliers.

Supplier Assessment Process

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2025

Performances

In 2024, Thaioil Group conducted a sustainable supplier assessment as follows:

4.2 Supplier Development and Capacity Building Program

Thaioil Group strives to develop and enhance the supplier capacity in sustainability management, covering ESG aspects, across its supply chain through the following implementations.

  • Communication of knowledge and supplier ESG programs: This included procurement procedures, and Thaioil Group commitment to all suppliers through various channels, such as annual supplier seminars, theoretical and practical training, and Thaioil Group’s website. Also, the Company has publicized ESG news through the Company’s Facebook pages and Supplier Relationship Management (SRM) Newsletters via emails.
  • Supplier ESG Benchmark: This implementation focuses on comparing data from supplier assessments across various sustainability dimensions and conducting meetings to share best practices from suppliers with outstanding ESG performance. Furthermore, this also provides an opportunity for suppliers to ask questions during the activity, enabling them to apply the insights within their own organizations and improve their supplier sustainability practices.
  • Supplier support (remote/ onsite) on implementation of corrective/ improvement actions: the procurement employees of Thaioil Group conducted online meetings with suppliers to monitor progress and provide additional recommendations for improvement. These meetings aim to develop the corrective action plans of suppliers, ensuring issues are resolved systematically.
  • In-depth technical support programs to build capacity and ESG performance: this aims to systematically improve suppliers’ operational approaches and performance on the ESG topics through training, initial assessments, joint system development, and performance evaluation. Moreover, this also strengthen suppliers’ capabilities and enable them to operate business sustainably in the long term through a systematic operational approach.

In 2025, Thaioil communicated information and conducted Supplier ESG Programs as follows:

Thaioil’s supplier seminar was conducted to communicate the Group’s vision, strategic direction, the 2026 procurement plan, sustainability management, the 2S1P (Strengthening the Core, Sustaining the Future, Powering the Platform) and the Sustainable Code of Conduct for Suppliers of Thaioil Group (SCOC). Moreover, Thaioil Group has communicated its policy, such as Thaioil Group Quality, Security, Safety, Occupational Health, Environment and Energy Management Policy, Business and Human Rights Policy for Supply Chain, and Anti-Fraud Policy etc. The purpose was to enrich supplier’s understanding of sustainability management and apply the knowledge into their own businesses to support the Thaioil Group’s sustainable development goals.

 Contractor Workshop  is a Security, Safety, Occupational Health, and Environment (SSHE) management program. This is the In-depth Technical Capacity Development Program, aiming to enhance suppliers’ SSHE capabilities and continuously monitor the outcomes of collaboration between Thaioil Group and its suppliers.

Management Site Walk and Contractor Award for MTA 2025: This activity invited Thaioil and contractor executives to conduct site visits during the major maintenance period. This aims to meet, discuss, listen to, and exchange ideas, and to boost morale among employees and contractors performing the work. After the completion of the major maintenance, a Contractor Award ceremony was held to recognize outstanding contractors who performed excellent work and avoided accidents during the Thaioil Group’s major maintenance.

The Green Industry certification training program for suppliers is conducted annually in collaboration with the PTT Group. This program encompasses both theoretical online sessions and practical workshop sessions for the suppliers throughout the year. This training program aims to motivate and guide suppliers in adopting environmentally friendly business operations. Throughout the training, Thaioil Group collaborated with recognized institutions, including the Management System Certification Institute (MASCI), which is a network institute of the Ministry of Industry and operates under the Foundation for Industrial Development.

ESG Training for suppliers was conducted by sustainability expert consultants. This training is the In-depth technical support program to build capacity and ESG performance. It aims to encourage suppliers to gain knowledge, understand, and apply sustainability principles in their real-life operations. As a result, it can lead to sustainable development throughout the supply chain.

E-procurement Training Program includes SAP Ariba Network for supplier registration, Online Proposal Submission and Online PO. These programs can enhance work efficiency, reduce energy consumption, and contribute to environmental conservation by minimizing paper use in the work processes. In addition, the programs comprehensively cover various systems related to the entire procurement process. The trainings are designed for each system to serve the specific needs of the suppliers.

PTT Group CG Day is a collaborative initiative with the PTT Group, organized on an annual basis. The initiative aims to promote and enhance supplier’s knowledge and understanding of Good Corporate Governance. In 2025, approximately 1,930 suppliers were invited to participate in this event through an online platform.

Thaioil Group organizes relationship building activities for suppliers. This aims to ensure the supplier’s understanding and acknowledgement of the Thaioil Group transparency and commitment in the procurement process, such as No Gift Policy.

Supplier ESG On-Site Assessment 2025 at the supplier’s operational site was conducted by the collaboration between Thaioil Group and the Management System Certification Institute (MASCI). This aims to provide recommendations for the suppliers that allow them to improve their sustainability (ESG) practices in their supply chain. After the suppliers ESG on-site assessment has been done. A certificate presentation ceremony was held for suppliers who participated in the assessment. Moreover, knowledge-sharing from suppliers who achieved the highest score of ESG was conducted.

2025

Performances

In 2025, Thaioil Group implemented initiatives to enhance the capabilities of suppliers, which achieved a greater number of significant suppliers participating in capacity development programs compared to 2024, as follows:

Employee Development and Capacity Building Program

To ensure the effectiveness of sustainable procurement policies and strategies, Thaioil Group recognizes that it is essential to receive the cooperation of all relevant stakeholders. Therefore, the Company has actively enhanced the capacity on sustainable procurement for the personnels (including buyers) in procurement function, other relevant function, and internal stakeholders, through several trainings and activities. For example, the Company organized the trainings of sustainable procurement in alignment with ISO 20400: Sustainable Procurement, covering topics such as integrating Sustainability into Procurement Policy, strategies, and E2E Process, organizing the Procurement Function towards Sustainability, and developing robust Supplier ESG Program. This aims to enhance the understanding of the roles and responsibility in sustainable procurement among the personnels in the procurement function, other relevant functions, and internal stakeholders, who are the key driver of sustainable procurement. As a result, this will ensure that Thaioil Group will be able to achieve the sustainability (ESG) targets.

2025

Performances

In 2025, Thaioil Group implemented initiatives to enhance the capabilities of its employees as follows:

Supplier Development Process

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5. Supplier Phase Out

Thaioil Group continuously monitors its suppliers and reviews their ESG performance throughout the contract period to ensure their compliance with the Thaioil Group’s ESG requirements. If a supplier fails to meet the minimum ESG standards within the specified timeframe, they will be suspended from collaboration with Thaioil Group or be listed on a blacklist.

6. Supplier Engagement and Satisfaction

In 2025, Thaioil Group consistently improved the E-Procurement system to ensure clarity, fairness, and professionalism in the Company’s procurement processes. This led to a higher level of supplier engagement and provided benefits for suppliers in terms of cost reduction and saving travel time, resulting in better supplier satisfaction. In addition, the Company adopted reliable technologies in the procurement process. For instance, the SAP Ariba system has been applied in supplier registration, bidding submission, and online procurement. Meanwhile, the Company has been applying DocuSign to facilitate the digital signature in the contract processes. Also, the Company organized training on the use of the SAP Ariba system for its suppliers.

Furthermore, Thaioil Group has actively promoted the use of the Online Purchase Order (PO) system for suppliers via the E-Procurement system. This aims to simplify the working process and increase the convenience and speed of the procurement process for the suppliers. At the same time, the Company has reduced environmental impacts by saving 200,076 pieces of paper per year. Since adopting the Online PO system, the Company has reduced a total of 1,400,532 pieces of paper. This allows the Company to minimize resources and energy consumption.

In addition, Thaioil Group has conducted a survey for suppliers who participated in online bid submissions through the E-Procurement system. The findings revealed that most suppliers were highly satisfied with the system due to its cost-saving benefits comparing to the traditional bidding process.

2025

Performances

To ensure that Thaioil Group recognizes suppliers’ needs, the Company conducts engagements, communications, and discussions to understand and gather suppliers’ perspectives on Thaioil Group’s procurement management principles, services, transparency, and fairness. Thaioil Group will then consolidate all the collected suppliers’ opinions into the Company’s decision-making and operational processes. In 2025, Thaioil Group conducted a supplier engagement survey through a third-party expert, and the survey revealed that the suppliers’ satisfaction has increased from 2024, both in terms of Supplier satisfaction score towards Thaioil Group and towards transparency and fairness, as follows:

To ensure that Thaioil Group recognizes suppliers’ needs, the Company conducts engagements, communications, and discussions to understand and gather suppliers’ perspectives on Thaioil Group’s procurement management principles, services, transparency, and fairness. Thaioil Group will then consolidate all the collected suppliers’ opinions into the Company’s decision-making and operational processes. In 2025, Thaioil Group conducted a supplier engagement survey through a third-party expert, and the survey revealed that the suppliers’ satisfaction has increased from 2024, both in terms of Supplier satisfaction score towards Thaioil Group and towards transparency and fairness, as follows:

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Thaioil Group's Supply Chain Management

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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.

Enter the website

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.