Several major Thai oil and refining companies are involved in these exports, including OR (PTT Oil and Retail), PTT, IRPC, Susco, Thai Oil, and Star Refinery, along with leading LPG traders such as Bangchak Sriracha, Unique Gas, and others.
PTT Oil and Retail (OR), a subsidiary of PTT Public Company Limited, has invested in Cambodia under PTT Cambodia Ltd (PTTCL), operating 190 petrol stations in Phnom Penh, Siem Reap, and other key routes, as well as numerous Café Amazon branches.
Previously, OR had also planned a US$100 million investment (around 3 billion baht) in Cambodia to build an LPG terminal and expand oil storage capacity to support industrial demand as part of its “second home market” strategy.
PTT responds: monitoring situation and recalling Thai staff
A PTT source told Krungthep Turakij that OR is monitoring the situation daily and has already activated contingency plans. Initial assessments suggest limited impact for now, as volatility is inherent in the global energy market. PTT has long maintained backup strategies, drawing from past crisis experiences.
The plan includes:
1. Petrol stations and Café Amazon branches in Cambodia continue operating as normal. With the fuel ban in place, OR will continue supplying from existing stock at its depots and service stations until reserves are depleted.
2. Thai employees in Cambodia were instructed to return to Thailand starting June 22 for safety. However, most of OR’s workforce in Cambodia are local staff, who will manage operations with support from the head office in Thailand.
As of April 2025, OR operated 190 petrol stations and 258 Café Amazon outlets in Cambodia—relatively modest compared to its over 2,000 service stations in Thailand. Earlier this year (January–April), Thailand exported 20-billion-baht worth of refined oil to Cambodia.
The source added that Thailand exports approximately 150 million litres of fuel and 1,500 tonnes of LPG to Cambodia each month. Nearly 100% of OR’s workforce in Cambodia consists of Cambodians, and OR has maintained a friendly relationship with local communities.
“Our business operations have always been conducted in good faith. We’ve created jobs, careers, and income for Cambodians. There is no hostility between us,” the source said.
Paetongtarn warns Cambodia oil ban may hurt public
Prime Minister Paetongtarn Shinawatra commented on Thai businesses operating in Cambodia, stating that the Thai government would provide full diplomatic support and there is no violence at present. She noted that Cambodia’s official suspension of oil and gas imports from Thailand is a border issue, but warned that if the situation escalates or Cambodia stops accepting more fuel, the consequences could grow.
“Cambodian leaders must set oil prices themselves. If they stop accepting Thai oil, prices could surge, and that will impact Cambodian citizens and Thai nationals residing in Cambodia,” she said.
Big C delays Cambodian expansion
Thapanee Techajareonvikul, executive vice-chairwoman of Big C Supercenter Plc, part of the BJC Group, announced that Big C has no plans to open new branches in Cambodia in 2025–2026. The company is closely monitoring the situation and will act only when conditions are clear and stable.
Big C currently operates 20 branches in Cambodia: one large-format store opened two years ago, and 19 small-format stores. The company has prepared contingency plans, such as backup generators, after past incidents of power instability.
“The decision to pause expansion in Cambodia is in line with our approach in Laos, where no new openings are planned either. We are focusing on Vietnam, where we already have 20 stores, and we’re studying potential entry into Indonesia,” she added.
For the second half of 2025, Big C plans to open four new hypermarkets in Thailand, including in Bangkok and upcountry. It will also renovate 14 existing branches and revamp nine small-format stores. In June, Big C launched its “Big C at Phenix” branch in Pratunam, based on the scaled-down Ratchadamri model, targeting both Thai customers and international tourists.
This year, Big C expects single-digit growth as planned. For 2026, it intends to invest no less than 6-7 billion baht, equally shared between Big C and its parent company, Berli Jucker Plc (BJC).
Cambodia aims to reduce Thai dependency
Assoc Prof Aat Pisanwanich, an expert in international and ASEAN economics, said Cambodia’s oil import ban signals a broader effort to reduce economic and trade reliance on Thailand.
Over the past decade, Cambodia’s dependence on Thai goods has declined, with imports from China and Vietnam steadily increasing. Thailand’s market share in Cambodia has dropped from 50% to 30%, particularly in food, auto parts, and construction materials.
“Thai investors in Cambodia aren’t number one—they’re number nine. China ranks first, followed by Malaysia, Singapore, and Vietnam. Thailand comes after that,” he explained.
Oil accounts for 16% of Thailand’s exports to Cambodia. Cambodia imports 60% of its oil from Thailand, with the rest split between Vietnam and Singapore. With the new ban, Cambodia will likely increase purchases from those two countries.
“In the next month or two, Cambodia may face a short-term fuel shortage, but it’s expected they will rely more heavily on Vietnam and Singapore after that,” he said.
