PTT Global Chemical clarifies facts about oil transportation, affirming no involvement in oil hoarding and no authority to command or interfere with transportation. The company is cooperating fully with government investigations.
On 12 June 2026, PTT Global Chemical Public Company Limited (“the company”) issued a statement to clarify facts following public news reports alleging oil hoarding. These allegations arose in connection with the closure of the Strait of Hormuz and included some references to the company concerning oil transportation, hoarding, and the completeness of oil transportation documentation.
The company affirms it has no direct or indirect involvement in oil hoarding and holds no authority to command, control, or interfere with transportation operations after oil delivery. The company operates as a refinery and sells oil via pipelines, trucks, and ships as an oil trader under Section 7 of the law, with responsibility limited to producing and delivering oil at the refinery gate or refinery port only.
Regarding marine oil sales, every oil tanker vessel involved must undergo registration and data verification under strict legal supervision. Once oil is delivered onto a vessel, all risks, liabilities, and control transfer immediately to the buyer. Therefore, management of transportation, routes, and voyage duration is the responsibility of the buyer and the transportation operator hired by the buyer, with no involvement from the company.
On the issue of completeness of oil transportation documentation, the company states its preparation of such documents complies with relevant laws and regulations. The data used to control and verify transportation, as required by law, include information on the oil transportation invoice and the domestic oil receipt and disbursement report (Form No. 9) issued by the Excise Department. These documents are provided with every shipment to enable authorities at the destination to verify accuracy and completeness.
As a publicly listed company on the Stock Exchange of Thailand, the company conducts its business with integrity, transparency, and adherence to good governance principles. It has a duty to protect its reputation and rights against any damaging implications, to safeguard the interests of all stakeholders.
During the recent Strait of Hormuz situation, the company maintained continuous production of refined oil products to help preserve the country's energy security stability. It has also cooperated fully with government agencies by providing information openly, with no intention to conceal any facts during investigations into the matter.