Bangkok: PTT Global Chemical Public Company Limited (GC) has issued a statement clarifying its position amid public news reports that allege involvement in oil hoarding. GC asserts it has no direct or indirect involvement in these activities and cannot control or interfere with post-delivery transportation operations. The company emphasizes its role as an oil trader under Section 7 of the law, focusing solely on the production and delivery of oil at its refinery or port.
According to Thai News Agency, GC operates a refinery and facilitates oil distribution through pipelines, trucks, and ships. Once oil is loaded onto a vessel, the responsibility and control shift to the buyer, making them accountable for transportation, routes, and delivery times. GC affirms it has no involvement in these processes.
The company also addresses concerns regarding the completeness of fuel transport documentation. GC ensures that all supporting transport documents comply with applicable laws and regulations. The accuracy and completeness of these documents are verified through the Excise Department's domestic fuel receipt and disbursement report (Form 9), and each shipment includes thorough documentation for authorities to review at the destination.
As a public entity listed on the Stock Exchange of Thailand, GC conducts its operations with integrity and transparency, adhering to good corporate governance principles. The company emphasizes its commitment to protecting its image and rights against defamatory statements that may harm its reputation and stakeholders.
During the recent Strait of Hormuz incident, GC maintained its refined oil production to support the country's energy security. The company also cooperated with government agencies, providing necessary information without any intention to conceal details related to the investigation.