Caltex (Thailand) seeks investors for pump stations

Thailand’s fourth-largest oil retailer, Caltex (Thailand) Co., expects to phase out its company-owned service stations next year and seek small investors to take them over in line with cost-cutting, says Apiwat Aganidad, senior manager for government policy and public affairs. He said Thailand was among the world’s toughest markets for retail oil sales. “With strong competition and low margins, this saves costs while keeping our revenue and customer base,” said Apiwat. The petrol station arm of Chevron Corporation in Thailand will maintain the number of stations at 420 but relocate around 20 pumps per year to better service the flow of traffic. (November 26, 2009)