Aramco and Thailand Deepen Energy Cooperation with MOU

aramco-thailand-energy-cooperation-mou-saudiscoop
Dhahran: Aramco, the Saudi Arabian Oil Company, is exploring further collaboration with Thailand's national oil company PTT & signed a MoU.

Dhahran: Aramco, the Saudi Arabian Oil Company, is exploring further collaboration with Thailand’s national oil company PTT. It has planned to expand its downstream presence in Asia. Thailand’s national oil company PTT and Aramco, on May 11, signed a memorandum of understanding (MoU) at a ceremony in Bangkok.

Recommended: Fitch Rating Upgrades Saudi PIF’s Outlook to ‘Positive’

Together, the two companies aim to strengthen energy cooperation across crude oil sourcing and marketing. Also, aim for developments in liquefied natural gas (LNG), refining and petrochemical products.

Other potential areas of activity under consideration include blue and green hydrogen and various clean energy Cooperation initiatives.

Ibrahim Al-Buainain is Aramco’s Vice President of Sales, Trading, and Supply Planning. Al-Buainain said:

“Today is an important step forward. We deepen and broaden this relationship to achieve greater cooperation across various activities.

That will include sourcing crude oil and marketing refining and petrochemical products and LNG. It will also include exploring blue and green hydrogen and developing other clean energy options.”

PTT President & Chief Executive Officer Auttapol Rerkpiboon said:

“Today marks a significant milestone for PTT and Aramco as we look to the future and extend our collaboration beyond conventional energy Cooperation.

It also reflects our ongoing commitment to the security of supply as we embrace the energy transition.”

Recommended: Saudi Industrial Production Rose by 24.8% in March

Disathat Panyarachun is PTT’s Senior Executive Vice President, International Trading Business Unit. Panyarachun said:

“PTT and Aramco have built strong ties to supply and trade crude oil and other products.

Extending our collaboration across the value chain to include emerging decarbonization initiatives is a great opportunity to strengthen our relationship and foster further business growth.

This collaboration also aligns with our ‘green and clean’ strategy, which aims to reduce greenhouse gas emissions.”

Leave a Reply

Your email address will not be published.

10% Discount on 1 Bed 2 Beds 3 Beds 4 Beds Apartments