29 November 2024
BSRC
A Steady Step Toward a Sustainable Future with Premier Energy
Bangchak Sriracha Refinery Public Co., Ltd. (BSRC) exemplifies transformation and progress since joining the Bangchak Group in late 2023. By 2024, the company has demonstrated outstanding capabilities across business, financial, and sustainability dimensions.
Production Achievements
Bangchak Sriracha Refinery, with a crude oil refining capacity of 174,000 barrels per day, achieved a record-breaking refining rate of 154,200 barrels per day in Q2 2024. In addition, it received four ISO certifications in a single year-ISO 14001, ISO 45001, ISO 50001, and ISO 27001-affirming global operational standards and its commitment to safety, with no oil spill incidents for over 16 years.
Distinctive Synergy
Bangchak Sriracha and Bangchak Phra Khanong refineries, both complex world-class refineries, complement each other with their unique strengths. Bangchak Sriracha Refinery specializes in producing lighter fuels like gasoline, perfectly balancing Bangchak Phra Khanong Refinery’s diesel-focused capabilities. Together, these refineries form a synergised powerhouse. This integration extends to an optimized network of pipelines and storage facilities, enhancing efficiency and responsiveness to market demands. Additionally, BSRC's standout product, asphalt, has gained traction in Thailand’s industrial market.
Marketing and Brand Transformation
In 2024, BSRC revamped over 95% of Bangchak-branded service stations, aiming for full completion within the year-setting a record for swift rebranding. The company introduced premium products like “Hi-Premium 97” and “Hi-Premium Diesel S” while expanding non-oil services across more than 200 locations, enhancing customer offerings nationwide.
Financial Success
BSRC successfully issued its first corporate bonds in July, raising over 4 billion baht-double its target. TRIS Rating upgraded its credit rating to “A+,” reflecting strong financial health. Additionally, BSRC achieved a synergy value of 4.4 billion baht within the first nine months of 2024, driven by seamless collaboration between Bangchak and BSRC teams.
Commitment to Sustainability
BSRC is dedicated to minimizing environmental impacts, aiming for carbon neutrality by 2036 and net-zero emissions by 2050. In 2023, the company reduced greenhouse gas emissions by 9% compared to the previous year. Initiatives like the “Zero Waste to Landfill” project further underscore its environmental commitment by minimizing waste.
Growing Alongside Communities
BSRC actively supports local communities through programs such as the “Community-Refinery Bonding” initiative, emergency preparedness training, and scholarships via the Bangchak Sriracha Refinery Fund, which has been operational since 1999.
Future Vision
From 2025 to 2030, BSRC aims to enhance its competitive edge through energy efficiency improvements, investments in smart projects, and the development of high-value specialty products. The company also seeks to drive innovation in superior energy solutions, balancing business growth with environmental and social responsibility.
Driving innovation with I-AM-BSRC values, BSRC embraces its core values-Innovation, Agility & Mobility, Boldness, Synergy, Resilience, and Care-to ensure excellence at every level of operation. These values align with its vision in "Shaping sustainable future with premier energy through innovative solution." BSRC is confidently stepping into the future as a leader in sustainable energy, growing alongside the Thai society with resilience and responsibility.
Looking to the future, from 2025 to 2030, BSRC aims to enhance competitiveness by optimizing energy efficiency, investing in smart projects, and developing high-value specialty products. The company also plans to innovate superior energy solutions while balancing business growth with social and environmental responsibilities.
With harmonious synergy with the Bangchak Group and driven by the I-AM-BSRC values, the company is confidently stepping into the future as a leader in creating sustainable energy and growing alongside Thai society.
