21 April 2023
World-Class Quality Certification
Bangchak Receives Thailand Quality Award (TQA)
Though Bangchak Group has expanded and diversified its businesses beyond refinery and marketing businesses as a Leader in Energy Transition – to foster corporate balance and mitigate investment risks, these two businesses remain pillars of the Group, where quality and standardization are on top priority.
For the Refinery and Oil Trading Business, Bangchak Refinery is the smallest refinery in Thailand. In the past, Bangchak Refinery had the highest production cost in the industry. However, by constantly improving and adapting, Bangchak Refinery, in 2022, was able to operate with the lowest unit production cost in the industry. This was the result of elevated capacity and new product development, specifically Unconverted Oil (UO), which propelled the Refinery and Oil Trading Business Group to not only have a low production cost, but the highest gross refinery margin in the industry, boasting a record-breaking capacity of 123,000 barrels per day all year. The Refinery and Oil Trading Business was also successful in its quality excellence from being awarded the Thailand Quality Award.
At the 21st Thailand Quality Award 2022, organized by the Office of the Thailand Quality Award, Thailand Productivity Institute, Ministry of Industry, Bangchak was announced as the sole recipient of the TQA 2022 for the Refinery and Oil Trading Business Group’s World-Class Quality Management. Previously, Bangchak Refinery was awarded the Thailand Quality Class Plus: Innovation in 2020. Further improvements and developments were achieved and in 2022, when Bangchak became the only organization in Thailand to receive the prestigious award. This reflected Bangchak’s visible and tangible improvements, including innovation, competency, governance, and corporate social responsibility.
Concurrently, in 2022, Bangchak’s Marketing Business Group was awarded its second consecutive Thailand Quality Class (TQC) Award, with markedly improved results across all dimensions, including products and processes, customer service, workforce, as well as finance and marketing. It was 1 of the 6 organizations to receive the TQC award this year.
On our journey of almost four decades, Bangchak is the only refinery awarded the TQA within the same year of its best-ever performance. Customer Service at service stations constantly improved and has resulted in receiving two consecutive TQC wins with a significantly higher score.
The prestigious Thailand Quality Award (TQA) reflects World-Class Management Excellence based on the same technical requirements and award process of The Malcolm Baldrige National Quality Award (MBNQA), the model quality award adopted by many countries such as Japan, Australia, Singapore, and the Philippines.