Corporate Info

Message from the Chairman

To Our Shareholders

The past year was a challenging year for Esso (Thailand) Public Company Limited. The global pandemic continues to take a tragic toll on people and communities, while severely impacting businesses, big and small. Yet, as is often the case, hardships bring out the best in people, as exemplified by the thousands of frontline workers, first responders and medical professionals who bravely battled the virus.

The pandemic continued to impact our business, as we navigate through the recovery, Esso (Thailand) remains committed to operating our business in a responsible manner, supplying high-quality products, working to minimize environmental impacts and supporting the communities where we live and work as promised in our Esso (Thailand) vision: “Power Life with Premier Energy Experience”.

Resilience is a vital necessity for us to stay the course. The team has learned and adapted to operate by leveraging our strength in Operation Excellence, Business Continuity Plan, Workplace flexibility program, and Site Safety and Health program. Collaboration remained top notch during the extended work-from-home period supported by world-class in-house IT infrastructure while monitoring the safety and health of employees’ working at home.

Although financial performance was directly influenced by the uncertainty of the pandemic on Thailand’s fuels demand, we strived to achieve improved financial results with 2021 earnings of 4,444 Million Baht, or 12,354 Million Baht higher comparing to 2020 through the resiliency of our people and our operations.

Our notable milestones in 2021 include:

  • Sriracha refinery continued being nimble with its production to cope with significant shift in fuels demand throughout the year utilizing crude diversification flexibility and strong operations reliability. On the petrochemical front, the Company has continuously evaluated ways to optimize its operations and integrated supply chain. Given an over-supply outlook and poor margins, the decision to suspend Paraxylene production was made effective April 2021. The Company will continue to evaluate our Paraxylene operations and supply chain on a periodic basis.
  • Retail fuels sales expanded its service station from 702 stations at the end of 2020 to 731 sites by year end 2021. This is the highest number of service stations in a decade. Meanwhile, backcourt offering was enhanced as Coffee Journey continues to grow its footprint in Esso service stations.
  • Commercial business successfully grew volume to neighboring countries as well as opportunistic sales to the Power Plant sector. Commercial volume grew approximately 8% in various sales segments (Industrial and Commercial and Cross-border) in 2021.
  • Lubricants launched the upgraded Mobil Super™ range that provides better engine wear protection. On commercial fleet side, the roll-out of MobilSM Fleet Care provides fleet owners and operators with a holistic view of their fleet ’s operational performance.

While focusing on delivering business performance, we also emphasized social engagement to help alleviate the impact of the pandemic. An exceptional commitment was displayed by our employees, customers and business partners in the form of financial contributions, medical supplies, Personal Protective Equipment, and fuel cards to medical institutions and first responders.

I am proud to share that, for the first time, Esso (Thailand) Public Company Limited won the 2021 HR Excellence Awards from Human Resources Online Consultant Asia in Corporate Social Responsibility Strategy. We also won the Platinum award from The American Chamber of Commerce in Thailand in recognition for Corporate Social Responsibility for 12 consecutive years, a true reflection of our commitment to create long-term economic and social value.

We have a long history of responsibly meeting society’s evolving need for energy in a reliable and sustainable manner. With a longstanding to commitment to investments in technology and the ingenuity of our people, we are well positioned to continue to provide the energy that is essential to improving lives, while managing the risks of climate change.

Looking ahead, Esso (Thailand) continues to play an important role in Thailand’s recovery from the pandemic and beyond – by providing energy and products that are critical to economic growth while minimizing environmental impacts. We support society’s aspiration in climate policy to achieve a lower-carbon energy future consistent with the goals of the Paris agreement. The events of the past year were among the most uncertain we have ever experienced, yet our employees rose to the challenge and demonstrated resiliency. This gives all of us at Esso (Thailand) tremendous confidence in our plans, our people and our future.