Chevron expanding in Thailand
California-based Chevron Corporation plans to get more mileage in Thailand by investing over $200 million to open an additional 100 new gas stations nationwide and renovating existing service stations, all with digital payment services for drivers topping up their tanks.
Alice Potter, Chairwoman of Chevron Thailand, said she wants to see the company have 500 service stations in the Kingdom by the end of 2021, up from 400 today. Chevron’s service stations are under the Caltex brand in Thailand.
The $200 million investment was Chevron’s largest in Thailand in a decade, Potter said. The company decided to push ahead despite lower demand for fuel as a result of the COVID-19 pandemic. The decision represents a vote of confidence in Thailand’s economic prospects.
Last year, Chevron established a collaborative relationship with Bangkok Bank to offer contactless payments through its Caltex Go Mobile application. Its service stations will be partnerships with local investors, and locals will be operating 95 percent of them.
Potter said the company wants to add value to its facilities, offering more convenience and safety to customers. New and renovated petrol stations will be equipped with a digital system under the company’s Smart Design Pump.
Chevron is also engaged in oil and gas exploration in the Kingdom and has been doing business in Thailand for 56 years. The company produces more than one-third of all the natural gas consumed in Thailand and sells it to PTT, Thailand’s national energy conglomerate.
Chevron employs over 1,500 people in Thailand, 95 percent of whom are Thai and has relationships with over 1,100 Thai contractors.