PTT Oil and Retail Business Public Company Limited

Continental Tyres (Thailand) has announced a partnership with FIT Auto, a full-service automotive service centre under PTT Oil and Retail Business Public Company Limited, or OR, to expand distribution channels for Continental tyre products and make it more convenient for motorists to access services. Continental tyres will be available through FIT Auto's network of more than 110 branches, covering Bangkok and the provinces nationwide, serving both conventional cars and electric vehicles, or EVs. Mr. Karel Kucera, Managing Director of Continental Tyres (Thailand), said Thailand is one of Continental's key markets and the company will continue investing in production capability, product development and expanding consumer reach. Meanwhile, Mr. Surachet Pornpipat, Manager of the Automotive Service Business at PTT Oil and Retail Business Public Company Limited, said the partnership will add choices of quality tyre products and strengthen readiness to serve the continuously growing electric vehicle user group. Both parties are also offering benefits through the "369" tyre warranty campaign for customers who buy four Continental tyres, providing coverage for 369 days along with Roadside Assistance. Electric vehicle customers who change all four tyres to Continental will receive an EV Station PluZ charging coupon worth up to 1,000 baht, with rim sizes of 18 inches and above receiving a coupon worth 1,000 baht, while sizes below 18 inches receive a coupon worth 500 baht. The promotion runs from 1 October to 31 December 2026 at all participating FIT Auto branches under the conditions set by the company.

PTT Oil and Retail Business Public Company Limited, or OR, is pressing ahead with its budget hotel business through a joint venture, Pit Stop Hotel Company Limited, in which OR holds 49% and Centara Hotels and Resorts holds 51%. The project has total investment value of approximately 706 million baht, split between 346 million baht from Modulus Ventures within the OR group and 360 million baht from Centara. The first phase will pilot six model hotels in Phuket, Kanchanaburi, Phra Nakhon Si Ayutthaya, Songkhla (Hat Yai), Chonburi and Bangkok. The pilot branches will gradually open starting in the third quarter of 2027, beginning with Kanchanaburi, Rojana Industrial Park and Hat Yai Airport, which are already under construction. In the second quarter of 2028, openings will follow in Bangkok's Don Mueang area opposite Terminal 2 near the Red Line station, Phuket Airport, and the Jomtien Beach intersection in Pattaya, which are currently undergoing environmental impact assessment. Miss Rajsuda Rungsiyakull, Senior Executive Vice President of Special Business at OR, said room rates start at 800 to 1,300 baht per night. She estimated the budget hotel market will grow about 7.3% from 2023 to 2028, with an EBITDA margin of roughly 40-45% and EBIT of about 20%. The payback period is expected to be around 7-10 years, with a target occupancy rate of approximately 75-80%, and the company aims to expand to 50 locations by 2031, both inside and outside service stations. It will start with the COCO model at the first six branches before expanding into franchising and hotel management services. Mom Luang Pichthong Thongyai, Chief Executive Officer of OR, said that by 2031 service stations will increase from 2,300 to 2,800, and daily customers will rise to 5 million from 3.9 million per day at present. The business aligns with the Asset Optimization strategy, which uses vacant space within the PTT Station network to create added value, driving the OR network toward becoming A Must-stop Destination.

The Thai Airways board has ordered the removal of Chai Eamsiri from the CEO position and appointed Samrit to take over, after the flood crisis damaged its reputation and operations. The board also opened the way for a full fact-finding investigation and immediately changed the authority to sign binding commitments on behalf of the company. Most recently, Thai Airways signed a contract with EEC to proceed with the U-Tapao aircraft maintenance centre, investing 10 billion baht on 210 rai of land, targeting construction in 2027 and the opening of the centre in 2030, with capacity to service 90 aircraft per year and generate revenue of 4,000 to 5,000 million baht. It also issued relief measures for passengers affected by the floods, including flight changes, full refunds, and compensation for delayed baggage. Among other stocks to watch, MRDIYT hinted at bright third-quarter 2026 results driven by branch expansion, while OR teamed up with CENTEL to develop budget hotels, starting with six pilot locations at prices from 800 to 1,300 baht per night, aiming to expand to 50 locations by 2031. AWC filed a filing with the SEC to establish the AWR trust, expecting net cash flow of more than 30,000 million baht, and WP completed its share buyback in full, 1.5 million shares, or 2.94%, worth 57.08 million baht.

The Thai stock market index on October 2, 2026 closed at 1,571.62 points, up 7.71 points or 0.49%, with trading value of 71.09 billion baht. Foreign investment flowed out toward U.S. government bonds, which offer lower risk and yields above 5%, while Thai stocks still await third-quarter 2026 earnings. PTT Oil and Retail Business, or OR, sent positive signals as it prepares for a tourism recovery that is driving growth in jet fuel sales. It has also pinned its flag in Phuket and is pressing ahead with budget hotels, gradually opening them in 2027-2028, with a target of 50 locations by 2031. The first phase will pilot six model hotels in high-potential locations: Phuket, Kanchanaburi, Phra Nakhon Si Ayutthaya, Songkhla (Hat Yai), Chonburi and Bangkok, to extend the business and turn PTT Station service stations into safe, standardized overnight stops nationwide. Meanwhile, ITEL won a big project from the Provincial Electricity Authority, or PEA, to organize communications cables across two regions, the central and southern regions, with a combined value of more than 266 million baht, reflecting confidence in its potential and experience in managing communications infrastructure, and positioning it to pursue future telecommunications infrastructure projects. WP completed its share buyback plan as scheduled, repurchasing the full 15,000,000 shares, or 2.94%, for an investment value of 57.08 million baht. CEO Chomkamol Poompanmoung is confident the move will build investor confidence and lift return on equity and earnings per share, while the company proceeds with this year's business plan, targeting LPG sales of 770,000 tons and focusing on expanding the domestic market alongside its rooftop solar business. BA, Bangkok Airways, is passing on something special to thank passengers on the occasion of winning the World's Best Regional Airline and Best Regional Airline in Asia awards from the SKYTRAX World Airline Awards for the 10th consecutive year, with the Lucky TEN campaign, building on the Thank You for 10 Amazing Years campaign launched last September. It invites passengers to join a draw for the right to buy tickets at a special 90% discount, or pay only 10% of the Web Promo (P-Q Class) fare, on five domestic routes, limited to just 200 entitlements, from October 5-9, 2026 only.

Mom Luang Pikthong Thongyai, Chief Executive Officer of PTT Oil and Retail Business Public Company Limited, or OR, has unveiled a strategy for its non-oil business, saying it is a key profit engine amid volatile oil prices. The company is pressing ahead with expanding Cafe Amazon coffee shops both inside and outside its service stations, focusing on new locations in hospitals and community areas such as temples, and is considering developing a mobile store format. It is also teaming up with partners on collaboration products such as soy sauce to attract younger customers. On progress in its partnership with Central Plaza Hotel Public Company Limited, or CENTEL, to develop budget hotels within service stations, the company has finalised six pilot locations: Bangkok, Kanchanaburi, Ayutthaya, Phuket, Chonburi and Songkhla. Five are branches inside service stations and one is outside a service station, in the Don Mueang area near the Red Line train station opposite Terminal 2. The hotels are five-storey buildings with about 79 rooms per branch, priced at roughly 800 to 100 baht per night. Construction takes about one year, with a gradual opening in 2027-2028. The project has double-digit returns on investment and profit margins. OR is also the first company to offer sustainable aviation fuel, or SAF, at service stations for regional airports, blending Jet A1 fuel with biofuel made from used cooking oil at a ratio of about 1%, priced roughly five times higher than normal Jet A1.

PTT Oil and Retail Business Public Company Limited, or OR, a major fuel retail operator under PTT Station service stations, has announced an increase of 0.75 baht per litre in retail prices for diesel, gasoline, and gasohol, effective from 05:00 on October 2, 2026. Under the new retail prices, diesel rises from 41.44 baht per litre to 42.19 baht per litre, diesel B20 rises from 36.44 baht per litre to 37.19 baht per litre, gasohol E20 rises from 34.94 baht per litre to 35.69 baht per litre, gasohol 91 rises from 39.57 baht per litre to 40.32 baht per litre, gasohol 95 rises from 39.94 baht per litre to 40.69 baht per litre, and gasoline rises from 48.93 baht per litre to 49.68 baht per litre. Meanwhile, some premium fuels at PTT Station are unchanged, with Super Power Gasohol 95 at 47.79 baht per litre, Super Power Diesel at 50.05 baht per litre, and Super Power X99 at 49.79 baht per litre. These prices are retail prices in the Bangkok area and exclude the local maintenance tax.

DBS Vickers Securities (Thailand) said in an analysis that it is maintaining its Neutral investment weighting on energy and petrochemical stocks, noting that the five business groups, namely upstream, refining, petrochemicals, power plants, and oil retail, each have different drivers. It highlighted eight top picks. The upstream group, which includes PTTEP and PTT, faces short-term pressure from lower oil prices, with Dubai crude falling 11.84 US dollars to 113.06 US dollars per barrel, though still well above the 2025 average of about 70 US dollars per barrel. The top pick in this group is PTTEP. The refining group, which includes BCP, IRPC, PTTGC, SPRC, and TOP, is supported by a recovery in Singapore refining margins of 3.17 US dollars to minus 1.44 US dollars per barrel. The top picks are BCP and SPRC. The petrochemical group, which includes IRPC, IVL, PTTGC, SCC, and TOP, benefits from a broad increase in price spreads after naphtha prices fell 33 US dollars per ton. The top picks are PTTGC and SCC. The power plant group, which includes BGRIM, GPSC, and GULF, has improved in the short term on weaker JKM gas prices, down 1.80 US dollars to about 26 US dollars per million British thermal units. The top picks are GULF and GPSC. The oil retail group, which includes OR and PTG, benefits from a 0.71 baht increase in diesel marketing margins to 2.00 baht per liter after pump retail prices were raised on September 24, 2026. The top pick is PTG.

Analysts expect PTT Oil and Retail Business Public Company Limited, or OR, to post a recovery in the third quarter of 2026, driven by stock gains as global oil prices rise to around 90 to 100 US dollars per barrel, together with marketing margins that hold steady or improve compared with the second quarter of 2026. Sirilak Phinthusunthorn, an investment analyst covering fundamental factors in securities at Globlex Securities, said the oil business remains the core, accounting for roughly 50 to 60 percent of EBITDA, while the lifestyle business accounts for about 30 to 40 percent of EBITDA. The lifestyle business is supported by consistently growing sales at Cafe Amazon coffee shops, which are expected to rise by an average of about 3 percent in the fourth quarter of 2026, the high season for the oil business thanks to the Christmas holiday and the turn of the new year. Analysts at Bualuang Securities Public Company Limited assess that the second quarter of 2026 marked the low point of the year and expect profit in the second six months to be clearly stronger than in the first six months. They also highlight the company's strong financial position, which supports a dividend yield of 4.0 to 5.0 percent, and set a fundamental target price of 14 baht, while Globlex gives a fundamental target price of 17.30 baht per share.

PTT Oil and Retail Business Public Company Limited, or OR, and Bangchak Corporation Public Company Limited, or BCP, have announced an increase in retail prices for diesel group fuels of 0.75 baht per litre, effective from 5:00 a.m. on September 24, 2026. Under this price adjustment, B20 diesel rises from 35.69 baht per litre to 36.44 baht per litre, and standard diesel rises from 40.69 baht per litre to 41.44 baht per litre. Gasoline and gasohol group fuels remain unchanged. BCP, through Bangchak service stations, is also raising Hi Premium Diesel S by 0.80 baht per litre, from 49.25 baht per litre to 50.05 baht per litre, while Hi Premium 98 Plus remains unchanged at 49.29 baht per litre. These prices are retail prices in Bangkok and exclude the local maintenance tax.

Krungsri Securities said the government is considering cutting excise taxes on specific fuels, namely E20 and B20, to directly help farmers growing sugarcane, cassava, and oil palm. The government will avoid cutting taxes on all fuel types in order to maintain fiscal discipline given limited resources and to prevent risks to the country's fiscal position. The research team assesses this measure as a small positive for the Thai economy and a positive sentiment for the SET. The policy will benefit ethanol and biodiesel producers and fuel service stations, namely BBGI, KSL, PTG, and OR, on rising demand for E20 and B20, and will also indirectly benefit grassroots retail groups such as CPALL and CPAXT, which stand to gain from recovering purchasing power among farmers.

TMBThanachart Bank, or TTB, has partnered with PTT Oil and Retail Business, or OR, to launch the ttb fleet card, the first card in Thailand to combine fuel purchases at PTT Station service stations and electric vehicle charging through the EV Station PluZ charging network in a single solution. Kanokporn Chutha, Head of TTB Business Product Management, and Piman Puengsri, Senior Executive Vice President of OR's Oil Retail Business, jointly developed and expanded this product. The ttb fleet card allows business customers to track, monitor, and control energy expenses in real time, and to set card usage permissions themselves through the ttb web fleet portal, increasing transparency and reducing paperwork. It supports both internal combustion engine vehicles and electric vehicles, as well as the Top Up Card, Top Up Plus Card, and Privilege Card products. The ttb fleet card is also part of TTB's Total Business Car Solutions, which covers everything from vehicle procurement and liquidity enhancement to risk management and energy cost management.

PTT Oil and Retail Business Public Company Limited, or OR, and Bangchak Corporation Public Company Limited, or BCP, announced an increase in retail prices for all grades of gasoline, gasohol, and standard diesel of 0.85 baht per litre, while all premium fuel grades remain unchanged. The new prices take effect from September 15, 2026, at 5:00 a.m. onwards for retail prices in Bangkok and its vicinity, excluding the local maintenance tax. B20 diesel rises to 35.69 baht per litre from 34.84 baht per litre, and standard diesel rises to 40.69 baht per litre from 39.84 baht per litre. Super Power X Diesel premium remains unchanged at 50.05 baht per litre. In the gasoline and gasohol group, gasoline rises to 48.93 baht per litre from 48.08 baht per litre, gasohol 95 rises to 39.94 baht per litre from 39.09 baht per litre, gasohol 91 rises to 39.57 baht per litre from 38.72 baht per litre, and gasohol E20 rises to 34.94 baht per litre from 34.09 baht per litre. Super Power Gasohol 95 and Super Power X 99, both premium grades, remain unchanged at 47.79 baht per litre and 49.79 baht per litre respectively. These prices are retail prices in Bangkok and its vicinity and exclude the local maintenance tax, while prices in other areas may differ according to local tax rates.

OR is transforming its service stations into more than just fuel stops by expanding into food, beverage, and retail businesses. It has partnered with Minor to bring leading restaurant brands into its network and is investing in EV and digital platforms to drive growth in the new energy era. While the energy business remains the main revenue base, OR aims to make the Lifestyle business a key growth pillar in the future. Cafe Amazon sold 117 million cups in the second quarter, up 4.5%, a record high, and opened the world's first Cafe Amazon Experience in Ari. OR signed a partnership with Minor to bring four restaurant brands—The Pizza Company, Dairy Queen, The Steak & More, and Chiho Ramen—into its service station areas. It is also expanding its EV Station PluZ network, developing digital platforms, increasing pipeline transportation share in TPN, and has been selected for the Dow Jones Best-in-Class Indices for the third consecutive year.

EV Station PluZ, operated by PTT Oil and Retail Business Public Company Limited (OR), has announced a partnership with three leading banks: TMBThanachart Bank (ttb), Kasikornbank (KBank), and Krungthai Bank (KTB). Together, they have launched the "EV Payment Solution," an innovative system for managing expenses and payments for electric vehicles, designed to serve both individual users and corporate clients. The launch event, attended by OR's CEO and senior executives from all three banks, took place at the Ministry of Energy. This system helps overcome limitations in budget control, risk management, and centralizing expense data into corporate accounts. Currently, EV Station PluZ operates a network of over 1,350 charging stations nationwide, with a goal to expand its DC charging ports to 7,000 by 2030, along with plans to develop EV Truck Stations for commercial trucks. This collaboration marks the first time a service provider has developed a system jointly with leading financial institutions, supporting the Net Zero target by 2050.

PTT Public Company Limited (PTT) is about to announce an interim dividend payment, with clear signals that it will definitely be paid, and it is expected to be higher in line with strong profits. All six subsidiaries have already announced interim dividends: PTTEP at 4.50 baht per share, GPSC at 0.55 baht, PTTGC at 0.60 baht, OR at 0.30 baht, IRPC at 0.04 baht, and TOP at 1.40 baht. In total, PTT will receive approximately 17,827.55 million baht in dividends from these six subsidiaries. PTT holds shares in each subsidiary at a ratio of 45-75%, and had cash and cash equivalents exceeding 385,613.72 million baht as of the end of Q2/2026. Meanwhile, analysts from Land and House Securities expect PTT to increase its first-half dividend from last year's 0.9 baht per share, given that first-half profit hit a record high of 78 billion baht. Krungsri Securities expects the full-year 2026 dividend to be 2.3 baht per share, representing a yield of 5.6%.

PTT Station has expanded its Self Serve fuel service to cover more than 285 stations nationwide, and is extending its promotion of a 1 baht per liter discount on all fuel types with no minimum purchase, from August 1 to September 30, 2026, at participating stations across the country. Mr. Piman Poolsri, Deputy Chief Executive Officer for Oil Retail Business at PTT Oil and Retail Business Public Company Limited (OR), said this service reflects the integration of innovation with digital technology to enhance the customer experience. Customers can use the blueplus+ app to find stations, place orders, select the pump and fuel type, fill up themselves, and pay via Blue Wallet, credit card, or debit card, while automatically earning points with every fill.

At least eight Thai listed companies announced interim dividend payments following board meetings on August 25, 2026, with most setting the XD date between September 7-9. Leading the way, BCP pays 3.00 baht per share, followed by TISCO at 2.00 baht, RATCH at 0.70 baht, TIPH at 0.50 baht, OR at 0.30 baht, HMPRO at 0.16 baht, TTB at 0.081 baht (up 23% from last year), and CIMBT at 0.0385 baht. RATCH's total payout is approximately 1,522.50 million baht, while OR's total is 3,600 million baht.

PTT Oil and Retail Business Public Company Limited (OR) has announced an interim dividend payment for the first half of fiscal year 2026 at a rate of 0.30 baht per share, totaling 3,600,000,000 baht. This represents a dividend payout ratio of approximately 562.7% of net profit from the consolidated financial statements. The company's board of directors approved the dividend at its 8/2026 meeting held on August 25, 2026, setting the record date for September 8, 2026, with payment to shareholders on September 24, 2026. The dividend will be paid from retained earnings, which include profits from operations taxed at a rate of 20% and profits from BOI-promoted businesses currently enjoying tax exemption privileges.

Morgan Stanley has raised its target prices on six Thai energy and refinery stocks: PTT to 44.90 baht from 39.40 baht, TOP to 87 baht from 70 baht, PTTGC to 59 baht from 43 baht, OR to 14.60 baht from 14.30 baht, BCP to 65.70 baht from 51 baht, and SPRC to 19.70 baht from 12.90 baht. The moves reflect a positive view on the outlook for Thailand's energy and refinery sector, especially for SPRC, PTTGC, TOP and BCP, which received significant target-price increases. Sorachai Pittayapruek, director of analysis at Krungsri Securities, assesses that the petrochemical industry is entering the early stage of a new recovery cycle after facing oversupply pressure since 2023. The situation in the Strait of Hormuz is acting as a catalyst for faster market rebalancing, because some plants that already had plans to reduce or halt production can use the situation as a reason to stop operations and cut product deliveries, removing a large amount of supply from the market during the crisis. However, once the Hormuz closure situation eases, product spreads may correct in the short term in the third quarter of 2026, but they are unlikely to return to the low levels seen in 2025, because not all of the old plant capacity that has been gradually shut down can come back to the market. Sorachai estimates that the petrochemical industry has a chance to reach balance sooner than previously expected. He had earlier estimated that the market could reach equilibrium in 2029, assuming plastic resin demand grows by an average of 1 to 2 percent per year and no severe economic recession hits. Once excess supply declines to the point of balance, producers' pricing power will increase, opening the opportunity for product spreads to sustainably stand above 500 US dollars per tonne. His recommended standout stocks are PTTGC and SCC in the petrochemical group, with BCP as the top pick in the refinery group, along with a buy recommendation on IVL and hold recommendations on SPRC and TOP.

PTT Oil and Retail Business, or OR, and Bangchak Corporation, or BCP, have raised retail prices for benzene, gasohol, and diesel by 0.85 baht per litre, effective from 5 a.m. on 19 August onwards. As a result, retail fuel prices in Bangkok, excluding local maintenance tax, are now benzene 95 at 46.68 baht per litre, gasohol 95 at 37.69 baht per litre, gasohol 91 at 37.32 baht per litre, E20 at 32.69 baht per litre, E85 at 28.63 baht per litre, diesel at 38.39 baht per litre, diesel B20 at 33.39 baht per litre, and premium diesel at 50.05 baht per litre.

OR has officially launched its first Café Amazon branch in Bangladesh in Dhaka, in partnership with Bashundhara Group, one of the country's leading business groups, to expand its coffee shop business into the South Asian market. The opening ceremony was attended by Thitiporn Jirasawat, Ambassador to Dhaka. The store is designed under the Lifestyle Oasis concept, blending the brand's signature green identity with natural materials, and features special menu items such as Brown Sugar Peanut Frappe and Mango Sticky Rice Frappe, combining Thai and Bangladeshi tastes. OR plans to open a total of 8 Café Amazon branches in Bangladesh by 2026, covering key locations such as Bashundhara Head Office, Bashundhara City Shopping Complex, and Gold's Gym.

Krungthai Card Public Company Limited, or KTC, is expanding growth in automotive and travel spending through a partnership with business groups under PTT Oil and Retail Business Public Company Limited, or OR. The collaboration offers benefits covering fuel, electric vehicle charging, car maintenance, and coffee shop services. Suwat Theppreechasakul, KTC's Head of Credit Card Marketing, said this partnership gives KTC access to car users nationwide through OR's business network, which includes PTT Station fuel stations, EV Station PluZ charging stations, FIT Auto car service centers, and Café Amazon coffee shops. KTC credit card members will receive special privileges such as 3% cashback when refueling at PTT Station from July 1, 2026 to October 31, 2026, 15% cashback for electric vehicle charging at EV Station PluZ from July 1, 2026 to December 31, 2026, 0% installment plans for up to 10 months with up to 16% cashback at FIT Auto from March 1, 2026 to February 28, 2027, and 40 baht cashback when redeeming 359 KTC FOREVER points at Café Amazon from April 1, 2026 to March 31, 2027.

KGI Securities (Thailand) expects OR's operating performance to recover quarter on quarter in the third quarter of 2026, because oil marketing margins and oil sales volumes are both expected to increase. Oil marketing margins are expected to rise quarter on quarter because the company's oil business is unlikely to book another large net realisable value inventory loss of 10.6 billion baht as it did in the second quarter of 2026, and oil sales volumes are expected to recover quarter on quarter as domestic fuel consumption returns to normal after falling sharply in April. OR is forming a partnership with Minor Food to transform PTT-branded service stations into food and lifestyle destinations by expanding its food and beverage business. OR will receive the right to open franchise branches of four leading restaurant brands: Dairy Queen, The Pizza Company, The Steak & More, and Chiho Ramen, a new exclusive brand developed jointly by the two companies. The launch is scheduled to begin this year, with total investment expected to be about 400 million baht and a target of 150 outlets by 2030, which will help increase customer traffic and strengthen OR's non-oil business ecosystem. OR has neither confirmed nor denied interest in the KFC business, which has been reported as being up for sale. Management said the company still needs to weigh the pros and cons of buying KFC compared with its current business model, under which about 300 to 400 KFC outlets operate inside PTT-branded service stations and OR earns rental income from them, but the company has not disclosed details about the deal. KGI Securities maintains a hold rating on OR with a first-half 2027 target price of 12.00 baht, based on a price-to-earnings ratio of 14.5 times. Although third-quarter 2026 earnings are expected to improve quarter on quarter, the brokerage remains concerned about the company's operations in Cambodia and its strategic direction following the conflict between Thailand and Cambodia.

Dillip Rajakarier, Group CEO of Minor International, or MINT, reported core profit of 3.658 billion baht, an increase of 6%, driven by hotel businesses in Europe and Thailand, where profit surged 32% and RevPAR in Thailand grew 11%, reflecting tourism purchasing power. The company is also partnering with OR to expand four brands at PTT petrol stations, targeting more than 150 branches by 2030, and is confident in continued growth in the second half, pursuing an asset-light strategy while reducing debt.