Aramco and PTT deepen energy cooperation in Thailand


  • MoU targets supply and trading of crude oil, petrochemicals and LNG
  • Feasibility of different feedstock processing models studied
  • Focus on clean energy, carbon capture and electric vehicles
  • Potential collaboration across upstream and downstream operations

Saudi Arabian Oil Company (“Aramco”) is exploring further collaboration with Thailand’s national oil company PTT, as it expands its downstream presence in Asia. The two companies signed a memorandum of understanding at a ceremony in Bangkok on May 11.

The companies aim to strengthen cooperation across crude oil sourcing and the marketing of refining and petrochemical products and liquefied natural gas (LNG). Other potential areas of activity include blue and green hydrogen and various clean energy initiatives.

Ibrahim Al-Buainain, Aramco Vice President Sales, Trading and Supply Planning, said: “Today represents an important step forward as we deepen and broaden this relationship to achieve greater cooperation across a wide range of activities, from sourcing crude oil and marketing refining and petrochemical products and LNG, to exploring blue and green hydrogen and progressing other clean energy initiatives.”

Auttapol Rerkpiboon, PTT President & Chief Executive Officer, said: “Today marks a significant milestone for PTT and Aramco as we look to the future and extend our collaboration beyond conventional energy. It also reflects our ongoing commitment to security of supply as we embrace the energy transition.”

Disathat Panyarachun, PTT Senior Executive Vice President, International Trading Business Unit, said: “PTT and Aramco have built strong ties around the supply and trading of crude oil and other products. Extending our collaboration across the value chain to include emerging decarbonization initiatives is a great opportunity to strengthen our relationship and foster further business growth. This also aligns with our ‘green and clean’ strategy which aims to reduce greenhouse gas emissions.” 



Mr. Disathat Panyarachun, Senior Executive Vice President, International Trading Business Unit, PTT, Mr. Auttapol Rerkpiboon, President & Chief Executive Officer, PTT, Mr. Ibrahim Al-Buainain, Vice President of Sales, Trading & Supply Planning, Saudi Aramco.

Aramco expands European downstream presence with PKN Orlen investments

-Investments widen Aramco’s presence in European downstream sector

-MoU with PKN Orlen and SABIC to explore joint opportunities in region

-Companies assess potential research and development collaboration


The Saudi Arabian Oil Company (“Aramco” or “the Company”), the world’s largest integrated energy and chemicals company, is expanding its global downstream presence with investments in Poland’s refining, wholesale, and jet fuel marketing segments.

The Company has agreed to acquire equity stakes of 30% in a 210,000 barrels per day refinery in Gdansk; 100% in an associated wholesale business; and 50% in a jet fuel marketing joint venture with BP. The acquisitions will be made from Polish refiner and fuel retailer PKN Orlen following its proposed merger with Grupa Lotos. Completion of the transaction is subject to regulatory approvals, including from the European Commission.

The investments will widen Aramco’s presence in the European downstream sector and further expand its crude imports into Poland, which aligns with PKN Orlen’s strategy of diversifying its energy supplies.

In addition to the investments, Aramco has signed a memorandum of understanding (MoU) with PKN Orlen and SABIC, one of the world’s largest petrochemicals companies, to explore joint opportunities in Poland and elsewhere in Central and Eastern Europe. Another MoU was signed by Aramco and PKN Orlen which focuses on exploring potential opportunities for research and development.

Mohammed Al Qahtani, Aramco Senior Vice-President of Downstream, said: “These acquisitions will support the diversification of Aramco’s product portfolio across the hydrocarbon value chain — including a focus on liquids-to-chemicals pathways. Our expanding global network of refineries and chemical joint ventures allows us to reach new markets with our products, and strategically place crude oil volumes across different geographies. Our business objectives for oil and chemicals are closely aligned with PKN Orlen, and we are exploring additional opportunities in the European petrochemicals market, as well as in R&D.”

Daniel Obajtek, President of the PKN Orlen Management Board said: “This is an historic day for the Polish energy industry. The completion of the merger is an opportunity to ensure high-quality crude oil supplies to Poland from Aramco. This is a key stage in building a strong multi-utility group that delivers diversified and reliable energy to Poland. Such international partnerships are essential for building the largest multi-utility group in this part of Europe.”

Aramco and AEC strengthen digital ecosystem

Saudi Arabian Oil Company (“Aramco”) and Advanced Electronics Company (“AEC”), a SAMI company, are collaborating to promote the localization of digital businesses in Saudi Arabia.

The two companies have signed a memorandum of understanding (MoU) to accelerate the Kingdom’s digital ecosystem development.

The partnership aims to support wider efforts to enable Internet of Things (IoT) technologies, computing and communication, robotics, drones, and semiconductors that complement the expansion of the digital ecosystem at large in the Kingdom.

Aramco has included the Industrial Digital Business (IDB) under the industrial investment program, Aramco Namaat, which aims to complement the establishment of various digital hubs in Saudi Arabia.

The program aims to maximize local content, contribute to GDP growth, create new jobs, accelerate digital talent development, and enhance Aramco’s reliability and operational efficiency.

Ahmad Al Sa’adi, Aramco SVP Technical Services, said: “This partnership aims to help us to develop technologies and local talent as we work with leading technology providers to add value to the company and wider economy.”

Ziad Al-Musallam, AEC President and CEO, said: “The cooperation with Aramco is expected to contribute to the efficiency and value of the supply chains in the industrial digital businesses, especially at the engineering, manufacturing, and services level, across many systems and products used in the ICT, security, and energy sectors.”

The program is designed to drive increased investment, economic diversification, job creation and workforce development within the Kingdom.



Nabil Al-Nuaim, Chief Digital Transformation Officer, Aramco (Left), Ahmad Al Sa’adi, SVP Technical Services, Aramco, Walid Abu Khalid, Chairman AEC & CEO SAMI, and Ziad Al-Musallam AEC President & CEO, at the signing of a memorandum of understanding between Aramco and Advanced Electronics Company, to accelerate the Kingdom’s digital ecosystem development.