OR One Report 2022_EN

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7 8











9 10















5. 8.
Thailand’s Most Admired Brand: No.1 Brand Thailand: Café Amazon
th
Market Leader Brand Award: PTT Station The 11 consecutive year winner for Thailand’s most
The brand with the highest market share in the industry, popular brand in Coffee Shop Category, from Marketeer
from Brand Age
9.
6. No.1 Brand Thailand: PTT Lubricants
th
Thailand’s Most Admired Brand: Innovation Brand The 11 consecutive year winner for Thailand’s most
Award: PTT Lubricants popular brand in Engine Oil Car Category, from Marketeer
The brand with constant innovation and creativity
introduced to the market, from Brand Age 10.
The Most Powerful Brands of Thailand: Café Amazon
7. Thailand’s most powerful brand in coffee business,
No.1 Brand Thailand: PTT Station from the Faculty of Commerce and Accounting,
The 11 consecutive year winner for Thailand’s most Chulalongkorn University
th
popular brand in Fuel Station Category, from Marketeer 049
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement






























11 12




















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11. 13.
Merchant Popular Deal of the Year Awards
The Most Popular Fried Chicken Restaurant Recognition of OR’s outstanding performance in
of the Year: Texas Chicken capital market driving by having the highest IPO deal
Popular brand for fried chicken, from Robinhood booked for retail purchases of more than 530,000
Application transactions, the biggest deal in the energy sector,
from the Stock Exchange of Thailand (SET)
12.
Office Hits Awards: Café Amazon 14.
The brand most loved by office people, popular Outstanding Deal Awards
beverages among office workers during day time, and Outstanding performance from IPO fundraising at a
a place for blissful breaks to recharge their energy, scale of more than 3,000 million baht, which OR was
from “What’s in at the office” page by Ookbee Co., Ltd. also able to raise 53,000 million baht, from the Stock
Exchange of Thailand (SET)


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16 17



















15. 17.
Rising Star Sustainability Excellence Thailand Top Company Awards
Sustainable business operation and determination Outstanding performance and business operations in
to steer the organization towards steady growth retail and wholesale industry category for 3 consecutive
according to ESG guidelines, from the Stock Exchange years, from BUSINESS+ magazine and the University
of Thailand (SET) of the Thai Chamber of Commerce


16.
Awards for listed companies with sustainable stocks
(THSI)
Companies with sustainable stocks (THSI) in Resources
Industry Category, from the Stock Exchange of Thailand
(SET)



051
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement



































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18. 19.
Outstanding Model Organization Award in Safety, Techsauce Awards: The Sauciest Company
Occupational Health and Working Environment Forward-looking, visionary organization with constant
• Surat Thani Petroleum Terminal has been awarded mission for new business opportunities, technology
for 26 consecutive years, the longest winning in Thailand. -focused with strong innovation strategy, making a
• Lampang Petroleum Terminal has been awarded positive impact on society, from Techsauce Global
for 23 consecutive years. Summit 2022
• Phitsanulok Oil Terminal and Chiang Mai
Oil Terminal have been awarded
for 22 consecutive years. 20.
• Prakanong Oil Terminal, Phuket Oil Terminal, Honorary Award for Gender Equality Promotion
and Nakhon Sawan Oil Terminal have been awarded Organization
for 21 consecutive years. An exemplary organization to promote gender equality,
• Den Chai Oil Terminal has been awarded from the Ministry of Social Development and Human
for 20 consecutive years from the Department of Labor Security
Protection and Welfare, the Ministry of Labour.
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21. 23.
Outstanding Award for Sustainable Model APEC Communication Partners
Organization in the Thai Capital Market who Communications and public relations partner of
supports the disabled the APEC 2022 Asia-Pacific Economic Cooperation
Organizations that promote and support the Conference, from the Ministry of Foreign Affairs
employment of people with disabilities, from the
Securities and Exchange Commission and the 24.
Ministry of Labor APEC Mobility and Logistics Partner
Mobility and Logistics partner of the APEC 2022
22. Asia-Pacific Economic Corporation Conference, from
Civilization Promotion Organization of the Year: the Ministry of Foreign Affairs
Thailand Friendly Design Awards
Outstanding organization that promotes civilization,
from the Foundation for Civilized Architecture for All

053
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement




































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25. 27.
Sustainability Excellence Award Golden Heart Award:
An organization with a vision and approach to Outstanding Contribution to COVID-19 Relief
sustainability, developing its business and technology Outstanding organization in providing COVID-19 relief
towards sustainability, specifically the EV Ecosystem, assistance, from the Association of Confederation of
from Informa Markets Establishments for Health and the Elderly

26.
Future Mobility Aspiration through
Bio-Circular-Green Economy within APEC
Outstanding organization that supports energy
transition and sustainable business practices, from
Electric Vehicle Association of Thailand and Informa
Markets

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28. 29.
Silver Award The International Sudomo Quality PR Awards Asia: Silver Award in Corporate Social
Medal Responsibility
Fuel Oil Premium grade which enhance the efficiency Outstanding and most successful Campaign & PR
of complete combustion, reducing emissions, and Week from “OR is opportunities” campaign
increasing the capabilities of entrepreneurs and
industrial businesses, from Perhimpunan Manajemen 30.
Mutu Indonesia (PMMI IQMA) Astrid Awards “HONORS”: TOGETHER Journal
Outstanding Design Communications award from
TOGETHER journal by MerComm








055
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement






Message from the Board of Directors

























































Mr. Auttapol Rerkpiboon Mr. Disathat Panyarachun
Chairman Chief Executive Officer


























056 Annual R epor t 2022
056
Annual Report 2022

t)
epor
1 One R
(56-1 One Report)
(
56-

OR operates its business in line with SDG in OR’s way,

taking the environment into account and growing
alongside society and communities sustainably.








Throughout 2022 the economy continued to recover despite the impacts of COVID-19 and the economic scars
it left on businesses and consumers alike. Although borders and airspace were open once more, only a limited
number of foreign visitors could return. Thailand’s economic recovery has been fragile and concentrated, further
exacerbating the country’s income gap and opposing its sustainable growth. Despite signs of recovery in 2022,
following the opening of Thailand’s borders and airspace, Thailand continued to face back-bending challenges,
including the rising costs of energy and raw materials and severe weather patterns induced by climate change.
Business operations have had to take social and environmental issues into account more than ever before. All of
these factors must be weighted to prepare for inevitable change.


Vision for Sustainable Growth ecosystem to an energy-solution ecosystem to sustain
At OR, we are convinced that a business of the future future energy consumption and ensure seamless mobility
should grow alongside its consumers and the environment, through PTT stations. These physical platforms allow us
hence our vision of “Empowering All toward to meet every traveler’s needs as we push for systematic
Inclusive Growth”. We believe that everyone deserves EV collaboration within the PTT Group. We are also
opportunities for growth, success, and a better quality using our customer database to design an appropriate
of life in a bountiful environment. As a company, OR ecosystem while we acquire new skills that will allow
inclusively empowers all with opportunities for growth OR’s business to continue to grow (ecosystem design);
that can be passed on to loved ones today, tomorrow, (2) All Lifestyles: We strive to grow our businesses
and beyond. beyond food and beverage to meet all lifestyle needs,
responding to constantly changing consumer behavior
trends and shifting demands. We are developing our
Mission Toward Exponential Growth
existing human resources while recruiting experts
To tangibly foster “Inclusive Growth in Action”, we leverage from outside to drive new businesses (professional
our capabilities, including service stations and management); (3) Global Market: For our international
retail shops, digital innovation development, trusting market growth, we focus on adapting business models
customer base, and our business expertise. We have that have been successful in Thailand to suit each new
mapped out the following four pillars of our mission: country in which we invest. We are building domestic
(1) Seamless Mobility: We aim to transition from an oil and international partnerships to identify expansion

057
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement





















































opportunities and create value-added to bring about Likewise, our Café Amazon purchases coffee beans
success and acceptance in the global market (strategic from Thai growers nationwide, including Robusta beans
alliance); and (4) OR Innovation: We leverage our from the south and arabica beans from the north. Our
capability along with that of our partners to overcome Café Amazon has also hired and trained baristas
social and environmental challenges, creating our very across Thailand, creating 19,300 jobs. Additionally,
own innovation while respecting the principles of social the Café Amazon for Chance program enables us to
and environmental development (people and planet) to hire Deaf individuals, senior citizens, and veterans as
ensure sustainable growth. baristas and provide them with steady income.

Inclusive Growth in Action (2) Diversified(D): OR and capable partners jointly

OR believes in the power of collaborations in creating invest in a wide range of businesses, leveraging each
and passing on opportunities through the determination other’s strengths to foster inclusive growth. Our physical
to expand businesses corresponding to the 4 missions, Inclusive Growth platforms include PTT stations,
and the intention to operate under OR SDG to create Café Amazon shops, and B2B partners such as Ohkajhu
a truly sustainable growth. or Pluk Phak Praw Rak Mae Co., Ltd. inside PTT stations
and Café Amazon locations. Our digital Inclusive Growth
(1) Small(S): OR’s operations elevate the quality of life platforms include the Blue Card member database and
at a microeconomic scale. For instance, we work with our all-in-one application.
PTT station partners (dealers) to support co-operative
societies by assisting them with product development and (3) Green(G): OR encourages every business to
marketing. We also sell these products at PTT stations, become green in support of a low-carbon society.
increasing their income in a sustainable manner. The ultimate goal is to achieve carbon neutrality by

058 Annual Report 2022
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2030 and net zero by 2050. To realize this goal, we into other products and furniture. We have also switched
push for an EV ecosystem through the synergy of PTT from plastic bags to paper bags.
Group companies and our own expansion of EV Station On behalf of OR’s Board of Directors and executive
PluZ inside and outside PTT stations on all major high- team, we would like to express our gratitude toward all
ways and in commercial districts nationwide. We have stakeholders for their continued trust and support. We
developed the EV Station PluZ application, in which will keep working diligently to increase competitiveness,
EV drivers can find charging stations, book a timeslot, investment, and good governance to allow OR to
and control charging. Payments are made online, and become one of the key providers of opportunities.
charging history is also available. All of these features By joining forces with our partners under the concept
make driving an EV easy in every way. Moreover, we of Inclusive Growth in Action, our business will grow
have expanded the installation of a solar roof inside and exponentially but sustainably alongside our consumers
outside OR operating areas, including OR warehouses, and our environment, realizing the “Empowering All
PTT Stations, and Café Amazon locations. Our Café toward Inclusive Growth” vision.
Amazon Circular Economy project upcycles products
used in Café Amazon shops and roaster by turning
them into uniforms for our baristas across Thailand. We
are exploring other possibilities as well. Meanwhile, our
Café Amazon Go Green campaign focuses on using
eco-friendly and biodegradable products, such as
bio straws, bio cups for hot beverages, and PET cups
for cold beverages, the last of which can be upcycled

059
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement







Report of the Audit

Committee






















Dr. Kobsak Pootrakool
Chairman of the Audit Committee



The Audit Committee of PTT Oil and Retail Business The Audit Committee executes its duties independently
Public Company Limited (OR) consists of three as assigned by the OR’ s Board of Directors and in
independent directors, namely Dr. Kobsak Pootrakool, accordance with OR’s Charter of the Audit Committee,
as Chairman of the Audit Committee, Dr. Chaichana which agrees with the best practices of the State
Mitrpant and Mr. Rawit Hanutsaha, as the Committee Enterprise Policy Office, the Ministry of Finance and The
members. All members have qualifications as stipulated Securities and Exchange Commission. The Committee
by the regulations of the Ministry of Finance on the reviews, advocates, and assures OR’s compliance
Audit Committee and the Internal Audit Department and with governance and applicable regulations as well as
have extensive experience in accounting, information adequate and effective risk management and internal
technology, and marketing, with Ms. Worrapanit control. In 2022, the Committee convened a total
Sittibusaya, Vice President of Internal Audit Department, of 12 meetings with the objectives of reviewing the
as Secretary of the Audit Committee. adequacy and efficiency of the internal control system, the
effectiveness of its performance and risk management,
the reliability of financial and administrative reports,
and legal and regulatory compliance relating OR and
its affiliated companies. The details of the Committee’
1) January 1, 2022 to April 7, 2022
s meeting attendance are as follows.

Audit Committee Members Position Attendance / Meetings

Assoc. Prof. Dr. Pipop Udorn Chairman of the Audit Committee 3/3
(Independent Director)
Dr. Chaichana Mitrpant Audit Committee Member 3/3
(Independent Director)

Mr. Yanyong Detpiratmongkol Audit Committee Member 3/3
(Independent Director)

Mr. Rawit Hanutsaha Audit Committee Member 2/3
(Independent Director)
060 Annual Report 2022
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2) April 7, 2022 to May 30, 2022


Audit Committee Members Position Attendance / Meetings

Dr. Kobsak Pootrakool Chairman of the Audit Committee 2/2
(Independent Director)

Dr. Chaichana Mitrpant Audit Committee Member 2/2
(Independent Director)

Mr. Yanyong Detpiratmongkol Audit Committee Member 2/2
(Independent Director)

Mr. Rawit Hanutsaha Audit Committee Member 2/2
(Independent Director)

3) May 31, 2022 to December 20, 2022


Audit Committee Members Position Attendance / Meetings


Dr. Kobsak Pootrakool Chairman of the Audit Committee 7/7
(Independent Director)

Dr. Chaichana Mitrpant Audit Committee Member 7/7
(Independent Director)

Mr. Rawit Hanutsaha Audit Committee Member 6/7
(Independent Director)

4) December 21, 2022 to December 31, 2022


Audit Committee Members Position Attendance / Meetings


Dr. Kobsak Pootrakool Chairman of the Audit Committee
(Independent Director)

Dr. Chaichana Mitrpant Audit Committee Member
(Independent Director)
No meeting convened
Mr. Chintapun Dansubutra Audit Committee Member
(Independent Director)

Mr. Supat Metheeworapote Audit Committee Member
(Independent Director)


















061
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement







The key activities undertaken by the Committee can be of the risk management process, risk management
summarized as follows: policy, internal control, as well as legal and regulatory
compliance of OR and its affiliates by conducting
1. Review of Financial Statements:
an audit performance review quarterly and providing
The Audit Committee reviewed OR’s quarterly, annual consultation, including giving advice and suggestions
and consolidated financial statements, including any to OR and its affiliates on internal control and risk
related transactions that might have led to conflicts of management in processes vital to business operations.
interest, together with the management, Internal Audit The Committee also reviewed reports of fraud and/or
Department, and external auditor. The Committee’s non-compliance with laws and OR’s regulations in 2022
inquiries to the external auditor included the accuracy and internal control assessment review reports as well as
and completeness of financial statements, the adjustment advised on internal control management reports under
of key account entries affecting the statements, the the Ministry of Finance’s Internal Audit Standards for
adequacy and suitability of account recording, audit Government Agencies, B.E. 2561 (2018) regulations.
scope, the accuracy of information disclosure, and the In 2022, the outcome of the internal control assessment
independence of the auditor. Any observations and demonstrated adequacy and continuity of compliance.
suggestions from the auditor were also noted. All these It revealed existing risks, thus allowing for improvements
elements ensured that the preparation of the financial to prevent or reduce such risks in 2023.
statements abided by legal requirements and generally 3. Governance of Internal Audit Activities:
accepted accounting standards and principles and was
undertaken in a reliable and timely fashion, and that The Audit Committee reviewed internal auditing
to assess the effectiveness of the Internal Control
the content of the financial statements was beneficial Department, taking into consideration its missions,
to stakeholders.
scope of duties, responsibilities, and independence.
Moreover, meetings between the Committee and The Committee also approved the annual audit plan
external auditor were held without the participation of the for 2023 and the long-term audit plan (2023-2025)
management to discuss audit planning, independence and reviewed annual budgets, the adequacy and
in duty performance, cooperation between the auditor suitability of resources, and the KPIs of the Internal Audit
and the Internal Audit Department, and the auditor’s Department. In addition, the Committee approved the
opinion, emphasizing accurate, complete, and sufficient annual self-assessment outcome of the Internal Audit
disclosure of information. Department and granted it an Excellent rating on the
2022 satisfaction survey, as well as endorsed the
2. Review of Internal Control Process, Governance, operational development plan of the Department,
and Risk Management Effectiveness:
supervised internal control quality assurance, and
The Committee, together with the Internal Audit reviewed the performance of the head of the Internal
Department, reviewed the effectiveness and efficiency Audit Department.























062 Annual Report 2022
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4. Quality Assurance of the Audit Committee: 6. Review of the Audit Committee and the Internal
The Audit Committee implemented an action plan based Audit Charters for 2022:
on the outcome of the 2021 assessment and conducted The Audit Committee approved a review of OR’s
Assessment of the Committee (entire Committee), regulations on the Audit Committee and the Internal
Assessment of Individual Directors (self-assessment), Audit Department and the requirements for internal audit
Individual Assessment of Other Directors (cross-
assessment) for 2022 following the best practices of the to ensure alignment with the scope of responsibility
State Enterprise Policy Officer (SEPO) and the Stock and best practices and consistency with other relevant
Exchange of Thailand (SET), to ensure its operational regulations, notifications, and handbooks.
efficiency and the achievement of the set goals. In summary, the Audit Committee executed its duties
The assessment results were at Excellent level. and responsibilities as specified in the charter with
The Committee also formulated an action plan to knowledge, skill, due professional care, and independence,
enhance the performance of the Audit Committee.
while providing opinions and recommendations for the
5. Review of Auditor’s Appointment benefit of all stakeholders. The Committee ensures that
and Remuneration for 2023: OR’s financial statements are accurate, reliable, and in

The Audit Committee considered and endorsed the alignment with generally accepted accounting standards
appointment of EY Office Company Limited (EY) as OR’s and assures that OR has operated in compliance with
auditor to perform an audit on financial data in the first, applicable laws and business obligations, has put in
second, and third quarters of 2023 and on the financial place a good governance system as well as adequate
statements of 2023. The Committee also proposed and uninterrupted risk management and internal control
the audit fees for 2023 to the Board of Directors for
concurrence, to be subsequently approved at the annual in accordance with relevant regulations of the Ministry of
general meeting of shareholders. Finance, and has continuously improved its operations
to ensure quality and compatibility with the business
circumstances.






































063
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement







Report of the

Nomination and


Remuneration Committee


















Mr. Poomsak Aranyakasemsuk
Member of the Nomination and
Remuneration Committee


The Board of Directors of PTT Oil and Retail Business With the addition by the resolution of the OR Board
Public Company Limited (OR) has appointed the of Directors on November 23, 2022, of Mr. Terdkiat
Nomination and Remuneration Committee, consisting Prommool as an additional non-executive director,
of five Company directors, with the Chairman of the effective December 26, 2022, upon the approval of
Committee being an independent director. The Committee the State Enterprise Policy Office (SEPO). As such,
is charged with nominating qualified directors and top the Committee is composed of at least three directors,
executive candidates according to the process and at least one of whom is independent. This is in line with
criteria defined by OR, selecting OR’s directors for OR’s Nomination and Remuneration Committee Charter.
positions on sub-committees, and screening candidates However, as of December 31, 2022, the position of
for an executive vice president or equivalent position Chairman of the Nomination and Remuneration Committee
to be proposed to the Board of Directors for approval. is vacant.
The Committee is also responsible for considering The Committee fulfilled the duties assigned by OR’s
remuneration schemes and criteria for directors and Board of Directors with prudence, caution, transparency,
submitting them to the Board of Directors and shareholder
meetings as required by the law. and fairness and convened a total of 12 meetings.
Its key activities in 2022 can be summarized as follows:
On December 31, 2022, the Nomination and Remuneration
Committee comprised four directors in total as follows: 1. Nomination of Candidates for Director
Replacement Due to Retirement by Rotation
1. Mr. Poomsak Aranyakasemsuk
(Non-Executive Director) and Resignation
2. Miss Dujduan Hetrakul The Committee nominated qualified candidates for
(Independent Director) directorship in compliance with the Corporate Governance
3. Mr. Supat Metheeworapote Code for Listed Companies issued by the Securities
(Independent Director) and Exchange Commission (SEC), the Stock Exchange
4. Mr. Terdkiat Prommool of Thailand (SET), and the Qualification Standards for
(Non-Executive Director) Directors and Officials of State Enterprises Act B.E. 2518
(including amendments), and strictly proceeded

064 Annual Report 2022
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according to the process and criteria stipulated by OR’s consultant to verify all issues related to the performance
Corporate Governance Handbook. The candidate list evaluation of all directors against the following criteria:
was then proposed to the Board of Directors, or a shareholder 1) The Corporate Governance Code for Listed Companies
meeting as required by the law. The Directors’ Pool 2017 of the Securities and Exchange Commission
of the State Enterprise Policy Office informed the (SEC) regarding the requirements and details for
nomination and considered the Board Skill Matrix the evaluation of directors
to ensure alignment with OR’s nature of business.
The qualifications included education, expertise, 2) The Stock Exchange of Thailand (SET)’s Corporate
skills, experience, and specialization related to OR’s Governance Practices, revised January 2021,
enterprises, as well as independence as stipulated by regarding self-assessment of the Board of Directors
the laws and OR’s requirements to ensure that the of a listed company
Company appointed directors with skills, knowledge, 3) The criteria for information disclosure specified in
and expertise suitable for OR’s business and effective the Thai Institute of Directors Association (IOD)’s
operation management. 2023 Manual of Corporate Governance Report of

Thai Listed Companies (CGR) regarding assessment
2. Appointment of Sub-Committees
criteria for listed companies under the category of
The Committee considered and approved the nomination “Directors’ Responsibility for “Self-Assessment”
and selection of OR directors to serve as members in
various sub-committees following best practices and 4) Corporate Governance, Ethical Standards, and
with the Board Skill Matrix as a basis and proposed Code of Business Ethics Handbook 2021 Edition
the candidate list to OR’s Board of Directors to ensure regarding the assessment of directors
that the performance of duties of each sub-committee 5) OR Board Charter
is comprehensive and efficient.
6) OR Nomination and Remuneration Committee
Charter
3. Determination of Directors’ Remuneration
and Bonus 7) The Dow Jones Sustainability Indices (DJSI)
The Committee determined remuneration for the Board 5. Review of the Nomination and Remuneration
of Directors and sub-committees for 2022 and the Committee Charter
allocation of bonus payments to the directors for their
contributions in the year 2021, based on the Company’s The Committee revised the Nomination and Remuneration
operating results and business size in comparison with Committee charter to ensure its currency, suitability
other listed companies or leading companies in the for the scope of roles and responsibilities, consistency
same industry or of a similar size to ensure suitability, with standards for listed companies, and good
fairness, and reasonableness. The remuneration was corporate governance principles. Reference was
then proposed to the Board of Directors for consideration made to the Stock Exchange of Thailand (SET)’s
and subsequently presented to the annual general Corporate Governance Practices, revised in January 2021,
meeting of shareholders for approval. particularly to the good practices of the Nomination
Committee and of the Remuneration Committee, and
4. Review of Board Assessment Forms and Board these principles were considered in conjunction with
Performance Assessment
1) directors’ opinions and the resolutions of OR’s Board
The Committee reviewed the criteria, procedures, and of Directors meetings, 2) organizational restructuring,
forms for the performance assessment of individual 3) the charters of the Board of Directors of PTT Group
directors and the Board as a whole, as well as the and those of listed companies in the same industry
performance assessment of sub-committees to comply (resource industry group, energy and utilities sector
with international corporate governance rules and and industrial group, retail business sector), and 4)
principles. The Committee also arranged for an external laws governing business operations of companies

065
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement







with state enterprise status. Thus, the Committee 8. Appointment of the President
resolved to revise Section 3, namely “Scope, Duties, and The Committee approved the appointment of the
Responsibilities” of the Nomination and Remuneration President in accordance with the resolution of the
Committee’s charter for 2022, such as the changing 3/2022 Board of Directors Meeting on August 29, 2022,
of titles of top executive positions, nomination of top to approve the organizational restructuring of OR,
executives for companies listed on the Stock Exchange effective October 1, 2022, to ensure clarity in management
of Thailand with state enterprise status, guidelines for
determining the remuneration of the Chief Executive roles and continuity in OR’s internal and business
Officer, and management of employees at the levels operations.
of director and Senior Executive Vice President or 9. Appointment, Transfer, and Promotion of Senior
equivalent and higher. Management Positions

6. Determination of Criteria and Guidelines for CEO The Committee approved the appointment, transfer,
Assessment and promotion of high-ranking executives to determine
The Committee approved the performance assessment the criteria and procedures for the recruitment,
criteria and guidelines for the Chief Executive Officer selection, and nomination of suitable persons to
(CEO) according to the established key performance assume high-ranking executive positions to ensure OR’s
indicators (KPIs). For 2023, KPIs and assessment business continuity and operational efficiency.
weights are set at 60% for corporate-level indicators, 10. Transfer of Secondment Employees Back to PTT
30% for leadership SPIs, and 10% for behavior KPIs.
Directors and related third parties will undertake The Committee approved the transfer of secondment
a 360-degree assessment of Competency, Attitude, and employees back to PTT to comply with the human
Behavior, and subordinates under the missive of the State resource management policy stipulated in PTT Group
Enterprise Policy Office No. Gor Kor. 0803.3/Wor. 856, Policy and PTT Way of Conduct for further approval by
dated July 22, 2021, regarding guidelines for evaluating OR’s Board of Directors. This was undertaken to ensure
top executives of state enterprises with a 360-degree OR’s operational efficiency, fulfillment of the vision and
assessment method. The criteria mentioned above are mission, and business continuity.
to be used as a basis for performance assessment and
salary increases, to be presented to the OR Board of
Directors for approval.

7. Candidate Scoring for Senior Executive Vice
President Positions
The Committee approved the qualification requirements
of candidates for the position of Senior Executive Vice
President to ensure that appointees have the appropriate
qualifications for said position and established the
following principles and guidelines for candidate scoring:
1) Performance: 30 points; 2) Competencies: 25 points;
3) Experience: 25 points; and 4) Candidate Qualification:
20 points. This will contribute towards bolstering OR’s
competitiveness, ability to balance the needs of all
stakeholders, and sustainable growth.

Remark:
The previous title for Senior Executive Vice President in Thai was effective until
September 30, 2022, and has henceforth changed to the new title, effective from
October 1, 2022, onwards.

066 Annual Report 2022
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Report of the Enterprise


Risk Management


Committee


















Dr. Chaichana Mitrpant
Chairman of the Enterprise
Risk Management Committee



OR recognizes the significance of effective risk The Enterprise Risk Management Committee is charged
management in its ability to achieve established goals and with establishing policies and risk management
sustainable growth and instill trust and confidence in frameworks, overseeing risk management to ensure
shareholders and all groups of stakeholders. The alignment with the Company’s strategies and targets,
Enterprise Risk Management Committee comprises as well as offering suggestions for the betterment
qualified experts with knowledge and experience in of risk management efficiency concerning strategy,
diverse areas. As of December 31, 2022, the Committee operation and business, information technology, finance,
consisted of five directors as follows: and compliance.

In 2022, the Enterprise Risk Management Committee
1. Dr. Chaichana Mitrpant (Independent Director)
Chairman convened a total of 6 meetings. The key activities
2. Dr. Buranin Rattanasombat undertaken in the discharge of its duties can be
summarized as follows:
Member
(1)
3. Dr. Kobsak Pootrakool (Independent Director) 1. The Committee reviewed the internal enterprise
Member risk management system, revising the Enterprise
4. Mr. Chintapun Dansubutra (Independent Director) Risk Management Committee Charter following the
(2)
Member Dow Jones Sustainability Index (DJSI) – Corporate
5. Mr. Disathat Panyarachun (3) Sustainability Assessment and extending the
Member Committee’s authority to encompass the supervision of
the cybersecurity and information technology security
strategy.


Remarks:
(1) OR Board Meeting No. 1/2022 on April 7, 2022 resolved to appoint Dr. Kobsak Pootrakool as member of the Enterprise Risk Management Committee,
replacing Assoc. Prof. Pipop Udorn.
(2) OR Board Meeting No. 12/2022 on December 21, 2022, resolved to appoint Mr. Chintapun Dansubutra as member of the Enterprise Risk Management Committee,
replacing Dr. Twarath Sutabutr.
(3) OR Board Meeting No. 12/2022 on December 21, 2022, resolved to appoint Mr. Disathat Panyarachun as member of the Enterprise Risk Management Committee,
replacing Ms. Jiraphon Kawswat.

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PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement







2. The Committee advised on and approved the 3.2 Operational and Business Risks
establishment of an annual corporate risk profile
that is consistent with the Company’s strategic • Advised the Company on maintaining the quality
directions and business plans, conducted risk of products and services.
assessment throughout the year to accommodate • Closely monitored accidents and catastrophic
changes in circumstance, determined key risk incidents and provided advice on raising
indicators, and monitored the results of enterprise awareness among employees and contractors.
risk management quarterly.
• Monitored price and cost risk management
quarterly.
3. The Committee provided recommendations on the
management of key risks, which can be summarized
3.3 IT Risks
as follows:
• Monitored the Cyber Security Roadmap report
3.1 Strategic Risks
on a quarterly basis.
• Considered, screened, and advised on new or • Monitored information technology access control
large investment projects that pose significant reports quarterly.
risks to the organization, such as investment in
online travel agency (OTA) businesses. 3.4 Financial Risks
• Monitored foreign exchange risk management
• Provided suggestions on risk management and on a quarterly basis.
strategy implementation for foreign-affiliated • Advised the company on monitoring its
companies, such as risk management for liquidity risk.
conducting business in Lao PDR and preparations
for opportunity seeking once the situation in In summary, the activities above demonstrate that the
Myanmar normalizes. Enterprise Risk Management Committee has attached
great significance to its duties, plays a vital role in
fostering confidence in the Company’s ability to carry
out its strategies and achieve its goals to ultimately
create added value for the organization and shareholders
sustainably.



































068 Annual Report 2022
(56-1 One Report)

Report of the Corporate


Governance and


Sustainability


Committee














Asst. Prof. Dr. Duangkamol Chartprasert
Chairman of the Corporate Governance
and Sustainability Committee



OR recognizes the importance of conducting business The Board of Directors on November 23, 2022 resolved
on the basis of good corporate governance, with a to amend the name of the Corporate Governance
business ethic that is committed to transparency, Committee to the Corporate Governance and Sustainability
accountability, integrity, fighting all forms of corruption, Committee, which at present consists of five qualified
and consideration for all stakeholders. Good corporate members, namely Asst. Prof. Dr. Duangkamol Chartprasert
governance is the foundation which will promote as Chairman of the Committee (independent director),
efficient business operations, allowing the business to Miss Dujduan Hetrakul (independent director), Mr. Rawit
grow sustainably. In addition, OR strives to integrate Hanutsaha (independent director), Mr. Tawatchai
environmental, social, and governance (ESG) approaches Cheevanon (independent director), Mr. Komol Buaket
into its operations to enhance efficiency and foster (director), serving as directors of the Committee, with
confidence among stakeholders across all sectors for the Corporate Governance Department Manager acting
the benefit of sustainable mutual growth. as secretary to the Committee.
In 2022, the Corporate Governance and Sustainability
Committee convened a total of 6 meetings, with the
following directors in attendance.
























069
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement







Members of the Corporate Governance
Position Attendance / Total Meetings (times)
and Sustainability Committee

Asst. Prof. Dr. Duangkamol Chartprasert Chairman 6/6
(Independent Director)

Mr. Chintapun Dansubutra (1) Director 6/6
(Independent Director)

Mr. Supat Metheeworapote (1) Director 6/6
(Independent Director)

Mr. Disathat Panyarachun (2) Director 3/3
(Executive Director)

Miss Dujduan Hetrakul (3) Director -
(Independent Director)

Mr. Rawit Hanutsaha (3) Director -
(Independent Director)

Mr. Tawatchai Cheevanon (3) Director -
(Independent Director)

Mr. Komol Buaket (3) Director -
(Non-Executive Director)


Remarks:
(1) Transferred to another sub-committee by resolution of the Board of Directors, effective December 21, 2022.
(2) Resigned as a director, effective October 18, 2022.
(3) Appointed as a director of the Corporate Governance and Sustainability Committee by the resolution of the Board of Directors, effective December 21, 2022,
and for Mr. Tawatchai Cheevanon and Mr. Komol Buaket, effective upon approval by the State Enterprise Policy Committee on December 26, 2022.


The Corporate Governance and Sustainability Committee’s standards of leading companies both in Thailand
activities in performing its duties can be summarized and overseas.
as follows:
• The Committee reviewed and endorsed the 2022
annual action plans for corporate governance
1. Corporate Governance
activities, complaint handling, anti-corruption
• The Committee instituted an annual review of efforts, and compliance with the law and OR’s
the key points of the Corporate Governance regulations. The Committee also set annual
Handbook, Ethical Standards, Code of Business
Ethics, Good Corporate Governance Policy, and targets, which were passed on to operations at all
Anti-Fraud and Corruption Policy, revising the roles levels, as well as continuously provided support
and responsibilities and the business ethics of the and suggestions and monitored the operations to
Board of Directors, executives, and employees for ensure the efficient achievement of the objectives.
transparency and accountability. The Committee • The Committee reviewed and endorsed the 2022
also continuously revised corporate governance corporate governance performance report as well
practices to ensure their currency and compliance as the CG Code compliance report, for which
with the laws, OR’s regulations, the corporate the principles developed by the Securities and
governance principles of the Stock Exchange Exchange Commission (SEC) were applied, to
of Thailand and the Securities and Exchange be disclosed in OR’s 2022 annual report. With
Commission, as well as the criteria, guidelines, and the intention and determination to operate under

070 Annual Report 2022
(56-1 One Report)

the principles of good corporate governance, OR • The Committee reviewed and endorsed the
received a rating of “Excellent” from the Corporate Sustainability Management (SM) action plan for
Governance Report of Thai Listed Company (CGR) the year 2022, continuously provided support
survey project conducted by the Thai Institute of and suggestions and monitored operations to
Directors Association for the second consecutive ensure the efficient achievement of the objectives.
year in 2022. Stemming from its commitment to implementation,
OR has received both international and national
• The Committee provided support and suggestions recognition, such as being invited to participate
regarding the announcement of intent to join the in the Dow Jones Sustainability Indices (DJSI)
Private Sector Collective Action Coalition against by S&P Global Ratings in the retailing industry
Corruption (CAC). group, receiving the 2022 Rising Star Sustainability
• The Committee provided suggestions on the Award from the Stock Exchange of Thailand
formulation of a group-level corporate governance (SET) in the category of Sustainability Excellence,
policy and established OR Group Way of Conduct, being listed a Thailand Sustainability Investment
which brings together guidelines, practices, and (THIS) company for the year 2022 in the resource
processes related to the policies of OR and its industry group, as well as being named the
affiliates to ensure consistency and uniformity in Sustainability Model Organization in the Thai capital
implementation. market in the Outstanding Support for People
with Disabilities category for the year 2022.
• The Committee required directors and executives All of these successes affirm OR’s emphasis on
to disclose any interests held by them and their sustainable business operations and determination
related parties so that any transaction potentially to develop the organization towards sustainable
constituting a conflict of interest could be growth in per ESG guidelines and create value
reviewed. for all stakeholders, society, communities, and

the environment.
2. Sustainability
• The Committee instituted sustainability policies 3. Review of the Charter of the Corporate
and guidelines to ensure that the Company’s Governance and Sustainability Committee
operations take environmental, social, and • The Committee conducted an annual review of
governance (ESG) aspects into account in a the Corporate Governance and Sustainability
way that is consistent with the principles and Committee Charter to ensure its currency and
best practices set by national and international consistency with the practices and standards for
standards. listed companies.


























071
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement







Board of Directors


















Mr. Auttapol Rerkpiboon
Director
Chairman of Director
(Non-Executive Director)





Age 57 years old • Executive Program on Rule of Law and Development (RoLD) (Class 2),
Thailand Institute of Justice (Public Organization)
Appointed Date • NIDA-Wharton Executive Leadership Program 2009,
• First term: March 9, 2018 (The date that OR converted The Wharton School of the University of Pennsylvania, USA
to public company limited) • PTT Executive Leadership, General Electric, GE, New York, USA
• Second term: April 3, 2019 (re-appointed) • Rule of Law for Democracy (Class 8), College of the Constitutional Court
• Third term: April, 7 2022 (re-appointed)
Working Experiences in the 5 Preceding Years
Education
May 13, 2020 - Present
• Bachelor of Engineering (Civil Engineering), President and Chief Executive Officer,
Chulalongkorn University PTT Public Company Limited
• Master of Economics Program, June 30, 2021 - December 31, 2021
National Institute of Development Administration Managing Director, Thai Red Cross Society 2021,
• Diploma of Petroleum Management, College of Petroleum Thai Red Cross Society
Studies, Oxford, England (British Council Scholarship)
September 29, 2020 - December 22, 2020
Certifications Advisor, Committee of Red Cross Lottery Tickets Supporting
• Director Certification Program (DCP 173/2013), the Thai Red Cross Society 2020
Thai Institute of Directors (IOD) June 8, 2020 - July 20, 2021
• Company Secretary Program (CSP 14/2005), Chairman, Power of Learning Foundation
Thai Institute of Directors (IOD) December 12, 2018 - May 12, 2020
• Executive Development Program (EDP), (Class of 1 ), Chairman, PTT Tank Terminal Company Limited
st
Thai Listed Companies Association (TLCA) May 1, 2018 - July 16, 2020
th
• The National Defence Course (Class of 58 ), President, Marketing Association of Thailand
National Defence College April 11, 2018 - July 31, 2020
• Advanced Certificate Course in Politics and Governance Director/ Chairman of the Risk Management Committee/
th
in Democratic System for Executives, (Class of 14 ), Member of the Nomination and Remuneration Committee,
King Prajadhipok’s Institute Thai Oil Public Company Limited
th
• Capital Market Academy Leadership Program, (Class of 20 ), October 6, 2017 - September 29, 2020
Capital Market Academy (CMA) Director,
• Senior Executive Program in Energy Science (Class 12), The Royal Automobile Association of Thailand under Royal Patronage
Thailand Energy Academy





072 Annual Report 2022
(56-1 One Report)

October 1, 2017 - May 12, 2020 April 19, 2022 - Present
Chief Operating Officer, Downstream Petroleum Business Honorary Advisor, The Economic Reporters Association
Group (October 1, 2017 - September 30, 2018 Acting March 2020 - Present
Senior Executive Vice President, Downstream Business Expert Committee of NIDA Council,
Group Alignment, PTT), PTT Public Company Limited The National Institute of Development Administration (NIDA)
October 1, 2015 - October 1, 2018 November 9, 2021 - Present
Director/ Director to the Corporate Governance Committee/ Promoting Social Cooperation Committee,
Director to the Risk Management Committee, Princess Maha Chakri Award Foundation
PTT Global Chemical Public Company Limited March 25, 2021 - Present
November 2015 - September 2017 Director, Thai Foundation
Chairman, PTT Retail Management Company Limited October 9, 2020 - Present
October 1, 2015 - September 30, 2017 Committee Member, Suan Luang Rama IX Foundation
Senior Executive Vice President - Oil Business Unit, October 2, 2020 - Present
PTT Public Company Limited Advisory Board, The Institute of Energy for Industry
August 31, 2020 - Present
Relevant Important Positions in Non-Listed Company / Expert Committee of Vidyasirimedhi Institute Council,
Other Organizations (In the Previous Year) Vidyasirimedhi Institute of Science and Technology (VISTEC)
May 13, 2020 - Present August 24, 2020 - Present
Director/ Secretary to the Board/ Chairman, Power for Sustainable Future Foundation
President and Chief Executive Officer, June 8, 2020 - Present
PTT Public Company Limited Chairman, Power of Innovation Foundation
August 1, 2020 - Present May 29, 2020 - Present
Director, Member of Trustee, Petroleum Institute of Thailand
PTT Exploration and Production Public Company Limited May 13, 2020 - Present
December 22, 2015 - Present Vice Chairman, Thailand Energy Academy
Chairman, May 2020 - Present
PTT Oil and Retail Business Public Company Limited Committee Member, OUR Khung BangKachao

Other Experiences / Other Activities May 13, 2020 - Present
(In the Previous Year) Committee Member, Green Globe Institute
November 19, 2022 - Present 2019 - Present
Chairman, Council Board Thailand Carbon Neutral Network Honorary Advisor, The National Institute of Development
October 17, 2022 - Present Administration Alumni Association under the Royal
Director, Patronage (NIDA)
Steering Committee Friends in need of (“PA”) 2022 July 27, 2018 - Present
October 10 , 2022 - October 23, 2022 Committee Member, Payment Systems Committee (PSC),
Chairman, Bank of Thailand
Steering Committee King Chulalongkorn Day 2022, 2018 - Present
Chulalongkorn University Alumni Association Honorary Advisor, Thai-Laos Business Council
September 20, 2022 - Present November 6, 2016 - Present
Member of the Raising Funds Committee for Building and Vice President, Swimming Association Thailand
Construction Maintenance, Suan Luang Rama IX Foundation Shareholding interests in the Company:
June 16, 2022 - Present 0.000028% (held by himself: 0.000020%
Committee Member, and held by spouse: 0.000008%)
The General Prem Tinsulananda Historical Park Himself: 2,363 Shares
May 30, 2022 - Present Spouse: 1,005 Shares
Advisor, IEEE Power & Energy Society
May 6, 2022 - Present Family Relationship among Directors, Executives
Director, Steering Committee According to Royal Initiative or Major shareholders of the Company or
Projects, the Vetiver Grass Project a Subsidiary :
April 25, 2022 - Present None
Advisory Board,
Sirinart Rajini Mangrove Ecosystem Learning Center



073
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement



























Dr. Kobsak Pootrakool
Independent Director
Chairman of the Audit Committee
Member of the Enterprise Risk Management Committee
(Non-Executive Director)




Age 54 years old Relevant Important Positions in Non-Listed Company /
Other Organizations (In the Previous Year)
Appointed Date
• First term: April 7, 2022 April 2021 - Present
Independent Director, Chairman of the Audit Committee
Education and Member of the Enterprise Risk Management Committee,
• Bachelor’s Degree in Mathematics and Economics, PTT Oil and Retail Business Public Company Limited
Williams College, USA Other Experiences / Other Activities
• Doctor of Philosophy in Economics, (In the Previous Year)
Massachusetts Institute of Technology, USA
2022 - Present
Certifications Chairman,
• Director Certification Program (DAP 196/2022), Federation of Thai Capital Market Organization (FETCO)
Thai Institute of Directors (IOD) 2022 - Present
Chairman, Community Organizations Development Institute
Working Experiences in the 5 Preceding Years 2022 - Present
2020 - Present Executive Chairman,
Director and Senior Executive Vice President and The Office of SMEs Promotion (OSMEP)
Corporate Secretary, 2021 - Present
Bangkok Bank Public Company Limited Board Member, National Vaccine Institute
2020 - 2022
Senior Executive Vice President, Shareholding interests in the Company :
Bangkok Bank Public Company Limited None
2019 - 2020 Family Relationship among Directors, Executives
Secretary and Director, Economic Minister's Committee or Major shareholders of the Company or
2019 - 2020 a Subsidiary :
Deputy Secretary General to the Prime Minister,
The Secretariat of the Prime Minister None
2017 - 2019
Minister attached to the Prime Minister’s Office,
Office of the Prime Minister
2015 - 2017
Vice Minister, Office of the Prime Minister




074 Annual Report 2022
(56-1 One Report)

Prof. Dr. Bundhit Eua-Arporn
Independent Director
Chairman of the Nomination and Remuneration Committee
Member of the Audit Committee
(Non-Executive Director)




Age 57 years old Relevant Important Positions in Non-Listed Company /
Other Organizations (In the Previous Year)
Appointed Date
• First term: January 10, 2023 January 2023 - Present
Independent Director, Chairman of the Nomination and
Education Remuneration Committee and Member of the Audit
• Bachelor of Engineering, Chulalongkorn University Committee,
• Master of Engineering, Chulalongkorn University PTT Oil and Retail Business Public Company Limited
• Ph.D. in Engineering, Imperial College of Science Technology 2021 - Present
and Medicine, London, U.K. Director, Bangkok Bank Public Company Limited
2016 - Present
Certifications Director, Banpu Power Public Company Limited
• Director Certification Program (DCP 110/2009),
Thai Institute of Directors (IOD) Other Experiences / Other Activities
• Temasek Foundation-NUS Programme for Leadership in (In the Previous Year)
University Management None
• Senior Executive Program in Energy Science (Class of 6), Shareholding interests in the Company :
Thailand Energy Academy (TEA)
• Poom Palung Pandin Program (Class 3), None
Chulalongkorn University Family Relationship among Directors, Executives
or Major shareholders of the Company or
Working Experiences in the 5 Preceding Years
a Subsidiary :
2021 - Present
Chairman, the Basic Education Commission, None
Ministry of Education
2016 - Present
President, Chulalongkorn University
2017 - January 10, 2022
Director,
PTT Exploration and Production Public Company Limited
2021 - 2022
Chairman, Council of University, President of Thailand





075
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement



























Dr. Chaichana Mitrpant
Independent Director
Chairman of the Enterprise Risk Management Committee
Member of the Audit Committee
(Non-Executive Director)



Age 49 years old • ASEAN-Japan Cybersecurity Capacity Building Centre
(AJCCBC)
Appointed Date • Info-Communications Promotion Month Certificate from
• First term: September 21, 2018 Ministry of International Affairs and Communications (MIC)
• Second term: April 3, 2019 (re-appointed)
• Third Term: April 7, 2022 (re-appointed) Working Experiences in the 5 Preceding Years
2017 - 2020
Education Director, The Metropolitan Waterworks Authority (MWA)
• Bachelor of Engineering, Rice University, 2013 - 2020
Houston, Texas, USA Deputy Director, Electronic Transactions Development
• Master of Engineering, University of Michigan, Agency (Public Organization) ETDA, Ministry of Digital
Ann Arbor, Michigan, USA Economy and Society
• Ph.D. in Engineering, University Duisburg–Essen, 2017 - 2019
Essen, NRW, Germany Director, The Bangkok Mass Transit Authority (BMTA)
Relevant Important Positions in Non-Listed Company/
Certifications
Other Organizations (In the Previous Year)
• Director Refreshment Program Boardroom for Business May 2019 - Present
Breakthrough (DRP 1/2021), Chairman of the Enterprise Risk Management,
Thai Institute of Directors (IOD) PTT Oil and Retail Business Public Company Limited
• Advanced Audit Committee Program (AACP 33/2019), 2018 - Present
Thai Institute Of Directors (IOD) Independent Director and Member of the Audit Committee,
• Risk Management Program for Corporate Leaders PTT Oil and Retail Business Public Company Limited
(RCL 18/2019), Thai Institute Of Directors (IOD)
• Director Certification Program (DCP 199/2015), Other Experiences / Other Activities
Thai Institute Of Directors (IOD) (In the Previous Year)
• Senior Executive Program in Energy Science (Class of 15), July 17, 2020 - Present
Thailand Energy Academy Director, Electronic Transactions Development Agency
• Certified Information Systems Security Professional (CISSP) (Public Organization) ETDA, Ministry of Digital Economy
• Executive Development Program 2556 (EDP) (Class of 9), and Society
Ministry of Finance Shareholding interests in the Company :
• National Security Management for Senior Executives None
(Class of 7), National Intelligence Agency
• Advanced Certificate Course in Politics and Governance Family Relationship among Directors, Executives
th
in Democratic System for Executives, (Class of 20 ), or Major shareholders of the Company or
King Prajadhipok’s Institute a Subsidiary :
None


076 Annual Report 2022
(56-1 One Report)

Asst. Prof. Dr. Duangkamol Chartprasert
Independent Director
Chairman of the Corporate Governance and
Sustainability Committee
(Non-Executive Director)



Age 60 years old 2012 - 2016
Dean of the Faculty of Communication Arts,
Appointed Date Chulalongkorn University
• First term: September 21, 2018
• Second term: April 7, 2021 (re-appointed) Relevant Important Positions in Non-Listed Company/
Other Organizations (In the Previous Year)
Education 23 December 2020 - Present
• Bachelor of Arts (First class Honor), Chairman of the Corporate Governance and
Chulalongkorn University Sustainability Committee,
• M.S. in Agricultural Journalism PTT Oil and Retail Business Public Company Limited
University of Wisconsin–Madison, USA 21 September 2018 - Present
• Ph.D. in Mass Communication Independent Director,
University of Wisconsin–Madison, USA PTT Oil and Retail Business Public Company Limited
Certifications
Other Experiences / Other Activities
• Ethical Leadership Program (ELP 24/2021), (In the Previous Year)
Thai Institute of Directors (IOD) 2020 - 2022
• Director Refreshment Program Boardroom for Business Chairman of the Doctor of Philosophy (Communication
Breakthrough (DRP 1/2021), Arts) Committee, Faculty of Communication Arts,
Thai Institute of Directors (IOD) Chulalongkorn University
• IT Governance and Cyber Resilience Program (ITG 14/2020), 2017 - 2022
Thai Institute of Directors (IOD) Director of the Cultural Management Program,
• Financial Statements for Directors (FSD 43/2020), Chulalongkorn University
Thai Institute of Directors (IOD) 1991 - 2022
• Director Certification Program (DCP 272/2019), Professor, Faculty of Communication Arts,
Thai Institute of Directors (IOD) Chulalongkorn University
• Director Accreditation Program (DAP 155/2018),
Thai Institute of Directors (IOD) Shareholding interests in the Company :
• Senior Executive Program in Energy Science (Class of 15), None
Thailand Energy Academy
Family Relationship among Directors, Executives
Working Experiences in the 5 Preceding Years or Major shareholders of the Company or
2017 - 2018 a Subsidiary :
Member of Chulalongkorn University Council, None
Chulalongkorn University

077
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement



























Mr. Chintapun Dansubutra
Independent Director
Member of the Audit Committee
Member of the Enterprise Risk Management Committee
(Non-Executive Director)



Age 52 years old 2018 - 2019
Legal Advisor, Bank of Thailand
Appointed Date 2014 - 2018
• First term: January 26, 2022 Krisdika Counsel, Finance and Treasury Laws Divisions,
Education Office of the Council of State
• Bachelor Of Laws, Chulalongkorn University Relevant Important Positions in Non-Listed Company/
• LL.M. University of Kent at Canterbury Other Organizations (In the Previous Year)
Certifications December 2022 - Present
• Director Certification Program (DCP 323/2022), Member of the Audit Committee, Member of
Thai Institute of Directors (IOD) the Enterprise Risk Management Committee,
• High-level Executive Development Program, PTT Oil and Retail Business Public Company Limited
The Royal Thai Police January 2022 - Present
• Certificate on Foundation of Central Bank Law, IMF Institute Independent Director,
• Potential Leadership Development Program, GRIPS PTT Oil and Retail Business Public Company Limited
• Certificate on Political Parties and Democratic System January 2022 - December 2022
(Class 6), King Prajadhipok's Institute Member of the Corporate Governance and
Sustainability Committee,
Working Experiences in the 5 Preceding Years PTT Oil and Retail Business Public Company Limited
2020 - Present Shareholding interests in the Company :
Director of Law Reform Division, Office of the Council of State
2021 None
Director of Program Development Section, Administrative Family Relationship among Directors, Executives
Lawyer, Development Institute, Office of the Council of State or Major shareholders of the Company or
2019 - 2020 a Subsidiary :
Director of Secretary General’s Affairs Group, Partner in-law with Mr. Tawatchai Cheevanon
Office of the Public Sector, Development Commission (OPDC)












078 Annual Report 2022
(56-1 One Report)

Mr. Tawatchai Cheevanon
Independent Director
Member of the Corporate Governance and
Sustainability Committee
(Non-Executive Director)



Age 54 years old 2017 - 2018
Director and Managing Director,
Appointed Date Daingern Dotcom Company Limited
• First term: December 26, 2022 2015 - 2018
Director and Managing Director,
Education
• Bachelor of Business Administration, Assumption University ASN Broker Public Company Limited
• Master of Business Administration, Seattle University, USA 2015 - 2018
Director and Managing Director,
Certifications ASN Life Broker Company Limited
• Ten X: Transformational Executive Network for Relevant Important Positions in Non-Listed Company/
Exponential Growth, The Thai Chamber of Commerce, Other Organizations (In the Previous Year)
The University of the Thai Chamber of Commerce
(UTCC) and DeOne Academy, 2022 December 2022 - Present
• The National Defence Course (Class of 63 ), Independent Director and Member of the Corporate
th
National Defence College Governance and Sustainability Committee,
• Master Deal Maker Program, University of Pennsylvania, USA PTT Oil and Retail Business Public Company Limited
• Director Certification Program (DCP 100/2008), Other Experiences / Other Activities
Thai Institute of Directors (IOD) (In the Previous Year)
• Banking Institutes Program, Sydney, Australia 2020- Present
• IBM Client Executive Program (CEP), Harvard University, USA Committee Member, College of Innovation, Thammasat University
2019 - Present
Working Experiences in the 5 Preceding Years
28 October 2022 - Present Chairman of the Board,
Senior Executive Vice President - Head of Global KTB Computer Service Company Limited
Transaction Banking Group, Acting Head, 2019 - Present
of Technology Group, Director, BCI (Thailand) Company Limited
Krung Thai Bank Public Company Limited 2019 - Present
2 March 2020 - 27 October 2022 Director, Innospace (Thailand) Company Limited
Senior Executive Vice President - Head of Global 2016 - Present
Transaction Banking Group, Chairman of Board, Cycling Cloud Company Limited
Krung Thai Bank Public Company Limited Shareholding interests in the Company :
2 January 2019 - 1 March 2020 None
First Executive Vice President - Head of Global
Transaction Banking Group, Family Relationship among Directors, Executives
Krung Thai Bank Public Company Limited or Major shareholders of the Company or
2019 - 2020 a Subsidiary :
Director, Krung Thai IBJ Leasing Company Limited Partner in-law with Mr. Chintapun Dansubutra
079
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement



























Mr. Rawit Hanutsaha
Independent Director
Member of the Corporate Governance and
Sustainability Committee
(Non-Executive Director)




Age 43 years old Relevant Important Positions in Non-Listed Company/
Other Organizations (In the Previous Year)
Appointed Date
• First term: April 7, 2021 December 2022 - Present
Member of the Corporate Governance and
Education Sustainability Committee,
• Bachelor of Engineering Program (Electrical Engineering), PTT Oil and Retail Business Public Company Limited
Chulalongkorn University April 2021 - 20 December 2022
• Master of Business Administration, Vanderbilt University, Independent Director and Member of the Audit Committee,
USA PTT Oil and Retail Business Public Company Limited

Certifications Other Experiences / Other Activities
• Director Certification Program (DCP 314/2022), (In the Previous Year)
Thai Institute of Directors (IOD) 2019 - Present
• Director Refreshment Program Boardroom for Business Director, Mission to The Moon Company Limited
Breakthrough (RFP 1/2021), Thai Institute of Directors (IOD) 2016 - Present
• Director Accreditation Program (DAP 152/2018), Director/ Managing Director, Sasi Lab Company Limited
Thai Institute of Directors (IOD) 2016 - Present
Director/ Managing Director,
Working Experiences in the 5 Preceding Years Srichand United Dispensary Company Limited
2020 - September 2021
Director, The Curator Club Company Limited Shareholding interests in the Company :
None

Family Relationship among Directors, Executives
or Major shareholders of the Company or
a Subsidiary :
None













080 Annual Report 2022
(56-1 One Report)

Mr. Supat Metheeworapote
Independent Director
Member of the Nomination and Remuneration Committee
Member of the Audit Committee
(Non-Executive Director)




Age 40 years old 2013 - 2017
Policy and Plan Analyst Professional,
Appointed Date
The Secretariat of the Cabinet
• First term: December 23, 2020
• Second term: April 7, 2021 (re-appointed) Relevant Important Positions in Non-Listed Company/
Other Organizations (In the Previous Year)
Education
December 2022 - Present
• Bachelor of Arts (Economics) (First Class Honor), Member of the Audit Committee,
Chulalongkorn University PTT Oil and Retail Business Public Company Limited
• Master of Finance and Business Economics (Merit), October 2021 - Present
Manchester Business School, University of Manchester Member of the Nomination and Remuneration Committee,
PTT Oil and Retail Business Public Company Limited
Certifications
January 2021 - December 2022
• Director Refreshment Program Boardroom for Business Member of the Corporate Governance Committee,
Breakthrough (DRP 1/2021), Thai Institute of Directors (IOD) PTT Oil and Retail Business Public Company Limited
• Director Certification Program (DCP 294/2020), December 2020 - Present
Thai Institute of Directors (IOD) Independent Director,
• Director Accreditation Program (DAP 171/2020), PTT Oil and Retail Business Public Company Limited
Thai Institute of Directors (IOD)
• The Civil Service Executive Development Program (Class of 96), Other Experiences / Other Activities
Office of the Civil Service Commission (OCSC) (In the Previous Year)
• High Performance and Potential System 2011 (HiPPs) 2020 - Present
(Class of 7) Director, Thai Credit Guarantee Corporation (TCG)
• Team Leading and Management (Class of 6), Shareholding interests in the Company :
Organization Development and Management Institution
• Public Management and Leadership Training Program 0.000006%
(PMLTP), National Graduate Institute for Policy Studies (GRIPS) (held by spouse: 0.000006%)
682 Shares (held by spouse)
Working Experiences in the 5 Preceding Years
2022 - Present Family Relationship among Directors, Executives
Director of Division of Cabinet Submission Analysis, or Major shareholders of the Company or
The Secretariat of the Cabinet a Subsidiary :
2018 - 2022 None
Plan and Policy Analyst, Senior Professional Level, acting
Director of Department of Cabinet Submission Analysis,
The Secretariat of the Cabinet
081
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement



























Miss Dujduan Hetrakul
Independent Director
Member of the Nomination and Remuneration Committee
Member of the Corporate Governance and
Sustainability Committee
(Non-Executive Director)


Age 39 years old Relevant Important Positions in Non-Listed Company/
Other Organizations (In the Previous Year)
Appointed Date
• First term: September 21, 2018 December 2022 - Present
• Second term: March 30, 2020 (re-appointed) Member of the Corporate Governance and
Sustainability Committee,
Education PTT Oil and Retail Business Public Company Limited
• Bachelor of Business Administration, Faculty of Commerce October 2021 - Present
and Accountancy, Chulalongkorn University Member of the Nomination and Remuneration Committee,
• Master of Business Administration (MBA) PTT Oil and Retail Business Public Company Limited
focused in Marketing and Strategic Management, September 2018 - Present
Sasin Graduate Institute of Business Administration Independent Director,
of Chulalongkorn University PTT Oil and Retail Business Public Company Limited
• Certificate of Publishing and Media Industry, Other Experiences / Other Activities
New York University
(In the Previous Year)
Certifications 2019 - Present
• Director Leadership Certification Program (DLCP 4/2022), Director,
Thai Institute of Directors (IOD) The Publishers and Booksellers Association of Thailand
• Risk Management Program for Corporate Leaders 2016 - Present
(RCL 22/2021), Thai Institute of Directors (IOD) Director, Usasawat Company Limited
• Director Certification Program (DCP 295/2020), Shareholding interests in the Company :
Thai Institute of Directors (IOD)
• Director Accreditation Program (DAP 155/2018), None
Thai Institute of Directors (IOD) Family Relationship among Directors, Executives
or Major shareholders of the Company or
Working Experiences in the 5 Preceding Years
a Subsidiary :
2009 - 2018
Director, Maeban Publishing Company Limited None
2009 - 2018
Director, Maeban Company Limited







082 Annual Report 2022
(56-1 One Report)

Mr. Poomsak Aranyakasemsuk
Director
Member of the Nomination and Remuneration Committee
(Non-Executive Director)





Age 58 years old March 2019 - November 2019
Director, National Credit Bureau
Appointed Date 2018 - 31 October 2019
• First term: March 9, 2018 (The date that OR converted Director, Government Savings Bank
to public company limited) May 2018 - September 2019
• Second term: April 25, 2018 (re-appointed) Director, Public Debt Management office
• Third term: April 7, 2021 (re-appointed) 2017 - 2018

Education Director, Sports Authority of Thailand
• Bachelor of Economics, Ramkhamhaeng University, January 2016 - October 2017
Thailand Consultant for the State Enterprise Evaluation, State Enterprise
• Master of Public Administration Program Policy Office (SEPO), Ministry of Finance
(Public Administration), National Institute of Development Relevant Important Positions in Non-Listed Company/
Administration, Thailand Other Organizations (In the Previous Year)
• Master of Business Studies (Finance) Massey University, 21 October 2018 - Present
New Zealand Member of the Nomination and Remuneration Committee,
Certifications PTT Oil and Retail Business Public Company Limited
• Board Nomination and Compensation Program (BNCP 6/2019), 9 March 2018 - Present
Thai Institute of Directors (IOD) Independent Director,
• Director Certification Program (DCP 73/2006), PTT Oil and Retail Business Public Company Limited
Thai Institute of Directors (IOD) Other Experiences / Other Activities
• Diploma, National Defence College, (In the Previous Year)
The National Defence Course (Class 59) February 2021 - Present
• Executive Development Program, The Wharton School Deputy Permanent Secretary, Ministry of Finance
of the University of Pennsylvania, USA 2021 - Present
• The Civil Service Executive Development Program: Chairman, Islamic Bank of Thailand
Visionary and Moral Leadership (Class of 73/74), November 2019 - Present
Office of the Civil Service Commission (OCSC) Chairman, National Credit Bureau

Working Experiences in the 5 Preceding Years Shareholding interests in the Company :
October 2019 - February 2021 None
Director General, The Comptroller General's Department,
Ministry of Commerce Family Relationship among Directors, Executives
2015 - 7 January 2021 or Major shareholders of the Company or
Director, CAT Telecom Public Company Limited a Subsidiary :
None
083
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement



























Mr. Komol Buaket
Director
Member of the Corporate Governance and
Sustainability Committee
(Non-Executive Director)




Age 50 years old Working Experiences in the 5 Preceding Years
2020 - Present
Appointed Date
• First term: December 26, 2022 Inspector General, Ministry of Energy
2020 - 2022
Education Deputy Director-General of the Department of Energy
• Bachelor of Engineering (B.E.) in Electrical Engineering, Development and Energy Conservation, Ministry of Energy
Metropolitan University of Technology 2016 - 2020
• Master of Engineering (M.Sc.) in Energy Management Director, Energy Regulatory and Conservation Division,
Technology, King Mongkut's University of Technology Ministry of Energy
Thonburi. 2010 - 2016
• Ph.D. in Industrial Business Development and Human Director of the Energy Control Group and the Energy
Resources. King Mongkut's University of Technology North Conservation Steering Group,
Bangkok. Energy Regulatory and Conservation Division,
Ministry of Energy
Certifications
• Politics of Democratic Government for Senior Executives, Relevant Important Positions in Non-Listed Company/
24 Class Other Organizations (In the Previous Year)
th
• Curriculum for Developing Senior Executives, Ministry of December 2022 - Present
Education, 8 Class Director and Member of the Corporate Governance and
th
• Curriculum for Senior Management of City Administration Sustainability Committee,
(City Leader), 2 Generation PTT Oil and Retail Business Public Company Limited
nd
• Curriculum for the Development of Senior Executive
Officers of the Government Administration Class 13 Other Experiences / Other Activities
• High Level Energy Management Program, Class 9, (In the Previous Year)
Ministry of Energy None
Shareholding interests in the Company :
None

Family Relationship among Directors, Executives
or Major shareholders of the Company or
a Subsidiary :
None



084 Annual Report 2022
(56-1 One Report)

Dr. Buranin Rattanasombat
Director
Member of the Enterprise Risk Management Committee
(Non-Executive Director)






Age 55 years old • Security Management and Leadership for Executives
Programme (Class of 10 ), The Association of National
th
Appointed Date Defence College of Thailand Under The Royal Patronage
• First term: October 8, 2021 of His Majesty The King. (ANDCT)
Education • PTT Leadership Development Program (IMD Business
• Bachelor of Science, Prince of Songkhla University School)
• Master Of Business Administration, Chulalongkorn University • Senior Executive Education Program on Strategy and
• Ph.D. (Management), Silpakorn University Innovation, School of Management, MIT
• Leadership Succession Program (LDP8), Institute of
Certifications Research and Development for Public Enterprises (IRDP)
• Director Leadership Certification Program (DLCP 4/2022), • CMA-GMS class of 2016 Program,
Thai Institute of Directors (IOD) Capital Market Academy
• Director Certification Program (DCP 174/2013), • TLCA Leadership Development Program, International
Thai Institute of Directors (IOD) Institute for Management Development (IMD),
• Company Secretary Program (CSP 40/2011), Switzerland and Thai Listed Companies Association
Thai Institute of Directors (IOD) • Foreign Affairs Executive Programme (Class of 7 ),
th
• Top Executive Program (Class of 30 ), Devawongse Varopakarn Institute of Foreign Affairs,
th
Capital Market Academy (CMA) Ministry of Foreign Affairs
• Public and Private Chief Innovation Leadership, • PTT Leadership Development Program (Harvard Business
National Innovation Agency School, USA)
• Advanced Certification Course in Public Administration
and Law for Executives, King Prajadhipok’s Institute
• Executive Development Program, Thai Listed Company
Association
th
• The National Defence Course (Class of 64 ),
National Defence College












085
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement






Working Experiences in the 5 Preceding Years Relevant Important Positions in Non-Listed Company/
2021 Other Organizations (In the Previous Year)
Chairman of the Board, October 2022 - Present
Nutra Regenerative Protein Company Limited Chief New Business and Infrastructure Officer,
June 2020 - September 2021 PTT Public Company Limited
Senior Executive Vice President, Downstream Business October 2021 - Present
Group Alignment, PTT Public Company Limited Director and Member of the Enterprise Risk Management
2020 - October 2021 Committee,
Director, Thappline Company Limited PTT Oil and Retail Business Public Company Limited
2020 - April 2021 October 2021 - September 2022
Member of the Nomination and Remuneration Committee, Senior Executive Vice President,
Thai Oil Public Company Limited Innovation and New Ventures,
2019 - 2020 PTT Public Company Limited
Chairman of the Board, Thappline Company Limited 2021 - Present
2019 - 2020 Member of the Risk Managament Committee,
Senior Executive Vice President, Thai Oil Public Company Limited
Corporate Strategy, Innovation and Sustainability 2020 - Present
and Chief Transformation Officer (CTO), Director, Thai Oil Public Company Limited
PTT Oil and Retail Business Public Company Limited
2019 - 2020 Other Experiences / Other Activities
Chairman of the Board, PTT (Cambodia) Limited (In the Previous Year)
2019 April 2022 - Present
Senior Executive Vice President, Planning, Director, The Federation of Thai Industries
PTT Oil and Retail Business Public Company Limited April 2022 - Present
2018 - 2019 President, The Federation of Thai Industries
Senior Executive Vice President, Lubricant Business, February 2022 - Present
PTT Oil and Retail Business Public Company Limited Chairman, Horizon Plus Company Limited
2018 - 2019 January 2022 - Present
Chairman of the Board, Chairman, Nuovo Plus Company Limited
PTTOR China (Shanghai) Company Limited 2020 - Present
2017 - 2019 Chairman, Innobic (Asia) Company Limited
Director, Thappline Company Limited Shareholding interests in the Company :
2015 - 2019 0.000086%
Chairman of the Board, Thai Lube Blending Company Limited (held by himself: 0.000049%
2015 - 2018 and held by spouse: 0.000037%)
Executive Vice President, Lubricant Business, Himself: 5,900 Shares
PTT Public Company Limited Spouse: 4,400 Shares
2017
Chairman of the Board, Family Relationship among Directors, Executives
PTT Oil Myanmar Company Limited or Major shareholders of the Company or
2012 - 2017 a Subsidiary :
Director, PTT (LAO) Company Limited None
2015 - 2016
Director, PTT Retail Management Company Limited
2014 - 2015
Executive Vice President, Retail Marketing,
PTT Public Company Limited












086 Annual Report 2022
(56-1 One Report)

Mr. Terdkiat Prommool
Director
Member of the Nomination and Remuneration Committee
(Non-Executive Director)



Age 57 years old Relevant Important Positions in Non-Listed Company/
Other Organizations (In the Previous Year)
Appointed Date December 2022 - Present
• First term: December 26, 2022 Director and Member of the Nomination and
Education Remuneration Committee,
• Bachelor of Engineering (Chemical Engineering), PTT Oil and Retail Business Public Company Limited
Chulalongkorn University 2021 - Present
• Master of Engineering (Industrial & Manufacturing Systems Senior Executive Vice President, Corporate Strategy and
Engineering), University of Missouri – Columbia USA Sustainability, PTT Public Company Limited
2020 - Present
Certifications Director, Thai Oil Public Company Limited
• Ethical Leadership Program (ELP 19/2020),
Thai Institute of Directors (IOD) Other Experiences / Other Activities
• Director Certification Program (DCP 206/2015), (In the Previous Year)
Thai Institute of Directors (IOD) 2021 - Present
• Leadership Succession Program (LSP), Class 10, Chairman of the Board,
Institute of Research and Development for PTT Digital Solutions Company Limited
Public Enterprises 2021 - Present
Chairman of the Management Committee,
Working Experiences in the 5 Preceding Years Thailand Energy Academy (TEA)
2020 - 2021 2021 - Present
Senior Executive Vice President, Organization Management Executive Committee,
and Sustainability, PTT Public Company Limited Vidyasirimedhi Institute of Science and Technology (VISTEC)
2018 - 2020 2020 - Present
Executive Vice President, Director, Thai Renewable Energy Association (RE 100)
PTT Digital Solutions Company Limited Shareholding interests in the Company :
2015 - 2018
Executive Vice President, International Trading, None
PTT Public Company Limited Family Relationship among Directors, Executives
or Major shareholders of the Company or
a Subsidiary :
None



087
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement





























Mr. Disathat Panyarachun
Director
Member of the Enterprise Risk Management Committee
Secretary to the Board




Age 58 years old Working Experiences in the 5 Preceding Years
2020 - 2022
Appointed Date
• First term: December 1, 2022 Director to the Risk Management Committee,
PTT Global Chemical Public Company Limited
Education 2018 - 2022
• B.A. in Ed. (Social Science), Silpakorn University Director, PTT Global Chemical Public Company Limited
• Master of Political Science (M.P.A.), National University, 2012 - 2015
San Diego, U.S.A. Chairman, PTT International Trading Pte Ltd (PTTT)
October 22, 2018 - June 22, 2020
Certifications Director to the Corporate Governance Committee,
• Ethical Leadership Program (ELP 19/2020), PTT Global Chemical Public Company Limited
Thai Institute of Directors (IOD) 2018 - 2022
• Director Certification Program (DCP 206/2015), Senior Executive Vice President, International Trading
Thai Institute of Directors (IOD) Business Unit, PTT Public Company Limited
• Executive Development Training Program, 2016 - 2021
The Royal Thai Police Chairman, PTT International Trading London Ltd.
• Senior Executive Program in Energy Science (Class 14), February 1, 2016 - September 30, 2018
Thailand Energy Academy Executive Vice President, International Trading,
• Leadership Development Program III (LDP III), PTT Public Company Limited
PTT Leadership and Learning Institute (PLLI), November 1, 2011 - October 19, 2018
PTT Public Company Limited Chairman, PTT International Trading DMCC
th
• The National Defence Course (Class of 63 ), August 1, 2015 - January 31, 2016
National Defence College Vice President acting as Executive Vice President
th
• Capital Market Academy Leadership Program, (Class of 30 ), International Trading,
Capital Market Academy (CMA) PTT Public Company Limited
• Certification of Oil Futures Program, 2012 - 2015
The Oxford Princeton, U.K. Vice President, PTT Public Company Limited working on
• Making the CEO’s of Thailand, MCOT (Class 2), a secondment as Managing Director,
MCOT Public Company Limited PTT International Trading Pte Ltd








088 Annual Report 2022
(56-1 One Report)

Relevant Important Positions in Non-Listed Company/ Other Experiences / Other Activities
Other Organizations (In the Previous Year) (In the Previous Year)
December 21, 2022 - Present 2012 - 2015
Member of the Enterprise Risk Management Committee, Chairman, PTT International Trading Pte Ltd (PTTT)
PTT Oil and Retail Business Public Company Limited Shareholding interests in the Company :
December 1, 2022 - Present
Director, Secretary to the Board and Chief Executive Officer, None
PTT Oil and Retail Business Public Company Limited Family Relationship among Directors, Executives
2020 - November 2022 or Major shareholders of the Company or
Director and Member of the Risk Management Committee, a Subsidiary :
PTT Global Chemical Public Company Limited None
October 2021 - November 2022
Director and Member of the Corporate Governance and
Sustainability Committee,
PTT Oil and Retail Business Public Company Limited
































































089
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement






Executive Team






1. 2. 3. 7. 8. 9.
Mr. Disathat Panyarachun Mr. Suchat Ramarch Mr. Soonthorn Chursuk Mr. Paisan Udomkulwanich Mr. Wisarn Chawalitanon Mr. Songpon Thepnumsommanus
Chief Executive O cer President Senior Executive Vice President, Senior Executive Senior Executive Senior Executive
Petroleum Terminal Operations Vice President, Vice President, Vice President,
Lubricants Business Organization E ectiveness Energy Solutions Business

4. 5. 6. 10. 11. 12. 13.

Mr. Chumpol Siripuchaka Miss Rajsuda Rungsiyakull Mr. Wison Suntharachan Miss Wilaiwan Kanjanakanti Mr. Racha U-Thaichan Mr. Somyot Kongprawet Mr. Piman Poolsri
Senior Executive Vice President Senior Executive Vice President, Senior Executive Vice President, Senior Executive Senior Executive Senior Executive Senior Executive
(Secondment to PTT Retail assigned as ORion Project Corporate Strategy and Vice President, Vice President, Vice President, Vice President,
Management Company Limited) Director Sustainability Finance Global Business Lifestyle Business Oil Retail Business




















































3 4 2 1 5 6 7 8 9 10 11 12 13






090 Annual Report 2022 PTT Oil and Retail Business Public Company Limited 091
(56-1 One Report)

Nature of Business and Performance Results Corporate Governance Financial Statement






Executive Team






1. 2. 3. 7. 8. 9.
Mr. Disathat Panyarachun Mr. Suchat Ramarch Mr. Soonthorn Chursuk Mr. Paisan Udomkulwanich Mr. Wisarn Chawalitanon Mr. Songpon Thepnumsommanus
Chief Executive O cer President Senior Executive Vice President, Senior Executive Senior Executive Senior Executive
Petroleum Terminal Operations Vice President, Vice President, Vice President,
Lubricants Business Organization E ectiveness Energy Solutions Business

4. 5. 6. 10. 11. 12. 13.

Mr. Chumpol Siripuchaka Miss Rajsuda Rungsiyakull Mr. Wison Suntharachan Miss Wilaiwan Kanjanakanti Mr. Racha U-Thaichan Mr. Somyot Kongprawet Mr. Piman Poolsri
Senior Executive Vice President Senior Executive Vice President, Senior Executive Vice President, Senior Executive Senior Executive Senior Executive Senior Executive
(Secondment to PTT Retail assigned as ORion Project Corporate Strategy and Vice President, Vice President, Vice President, Vice President,
Management Company Limited) Director Sustainability Finance Global Business Lifestyle Business Oil Retail Business




















































3 4 2 1 5 6 7 8 9 10 11 12 13






090 Annual Report 2022 PTT Oil and Retail Business Public Company Limited 091
(56-1 One Report)

Nature of Business and Performance Results Corporate Governance Financial Statement







The Situation of Oil Prices

and Demand 2022























































Variance
Unit: USD/Barrel 2021 2022
(YoY)
Dubai 69.2 96.3 39.2%

Gasoline 80.3 115.2 43.5%
Gasoil 76.0 130.6 71.8%

Kerosene 75.1 126.7 68.7%














092 Annual R epor t 2022
092
Annual Report 2022
t)

epor
(
56-
1 One R
(56-1 One Report)

A report from the International Energy Agency an increase in gasoline demand. Moreover, gasoline
(IEA) retrieved in January 2023 showed that supply remained tight in Asia due to lower export
st
rd
expected global oil demand in 2022 at 99.8 quotas from China during the 1 - 3 quarter
million barrels per day (MMBD), higher than an of this year. Diesel price in 2022 averaged at
earlier forecast in October 2022 of around 0.2 US$130.6 per barrel, which improved from the
MMBD, which resulted from demand recovery previous year at US$76.0 per barrel. This came
in Non-OECD countries from the relaxation of from continuous economic recovery and concern
measures to control of the coronavirus. However, over the Russian refined products sanction. This
there are pressure factors from the concern over situation affected the global diesel supply, which
economic recession because of rising interest is in line with the low level of diesel inventories
rates by central banks in many countries due in many regions. Jet/Kerosene price averaged
to inflation. at US$126.7 per barrel rose from US$75.1
per barrel in 2021. It was caused by the continuous
Dubai crude oil prices situation in 2022. The opening of many countries as a relaxation
average Dubai crude oil price was US$96.3 of travel measures, affecting the number of
per barrel, higher than in 2021 at US$69.2 international flights to increase steadily.
per barrel as a continuous recovery in demand, Domestic flights in the USA have increased near
especially in Asian countries. Moreover, it was pre-coronavirus levels. In addition, the jet fuel
mainly caused by the conflict situation between supply was pressured by refiners increasing
Russia and Ukraine affecting concerns about the diesel production to replace jet fuel, which
crude oil supply in the global market because support kerosene price.
Russia is a major exporter of crude oil in the
world. Europe has imposed sanctions on Russian Fuel consumption in Thailand 2022, the
crude oil imports since December 2022, and the Department of Energy Business reported that
G7 has announced a price cap on Russian crude Thailand’s daily consumption averaged 151.2
oil to reduce revenue from oil exports. However, liters per day, which rose by 13.5% compared
this situation also put pressure on crude oil prices to last year. Jet fuel rose by 91.6%, followed
due to rising energy prices which led to inflation by diesel by 15.7%, LPG by 5.9%, and fuel oil
problems in many countries, especially the USA by 19.2%. and gasoline 3.9%. While kerosene
and Europe. This caused an increase in the interest decreased by 15.9%. As a result of foreign
rate by the central bank to alleviate inflation travelers’ interest in visiting Thailand, overall oil
problems which pressured oil demand. In addition, consumption has increased. Furthermore, Thai
China continued to maintain Zero-COVID Policy were increasingly traveling across provinces,
during 2022. Also, travel control measures and especially at the end of the year for New Year
lockdowns in many cities affected domestic celebrations.
demand in China.
Diesel consumption averaged 73.1 million
Petroleum products prices in 2022, Singapore liters per day, rising from the same period last
refined products prices have increased more year 15.7% due to the government's policy of
than Dubai crude oil prices compared to the maintaining the retail price of diesel at 35 baht
previous year. Gasoline price averaged at per liter, reducing the excise tax rate and subsidy
US$115.2 per barrel, improved from 2021 at for diesel prices by the oil fuel fund to mitigate the
US$80.3 per barrel. This was from the relaxation of high living cost that is affected by global energy
travel control measures in many regions, causing price fluctuations. For high-speed diesel fuel B7,






093
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement

























































the major consumption increased to 63.9 million liters Liquefied petroleum gas (LPG) consumption averaged
per day and standard diesel fuel consumption increased 17.5 million kg per day increasing by 5.9% from the
to 6.7 million liters per day. While high-speed diesel same period last year. The transport sector increased
consumption decreased by 2.3 million liters per day to 2.2 million kg per day (+25.7%), the petrochemical
and B20 diesel fuel consumption averaged 0.2 million sector increased to 7.5 million kg per day (+3.9%),

liters per day. and the industrial sector rose to 2.0 million kg per
day. (+8.6%) and the household sector increased to
Gasoline consumption averaged 30.2 million liters per 5.7 million kg per day (+1.6%).

day, which increased by 3.9% from the same period last Oil Prices & Petroleum Products Outlook
year. Gasohol 91, 95, and E85 consumption increased to
7.0 million liters per day, 16.3 million liters per day, and The trend of crude oil prices and petroleum products
0.8 million liters per day, respectively. While Gasohol, prices. World oil demand in 2023, as reported by the
E20, and gasoline consumption dropped to 5.5 million IEA as of January 2023, projected that global oil demand
liters per day and 0.5 million liters per day, respectively. in 2023 at 101.7 MMBD, increase from 2022 by 1.9
MMBD. This forecast is the highest oil demand ever.
Commercial aviation fuel consumption (Jet A-1) averaged More than half of the increase is attributed to China,
9.0 million liters per day, increasing from the same which has announced the easing of its Zero-COVID
period last year (+91.6%) because many tourists came policy and some of the demand growth comes from
to celebrate the New Year, especially in December. non-OECD countries.

094 Annual Report 2022
(56-1 One Report)

The trend of crude oil prices. Crude oil prices tend to recession concerns, especially in the USA and Europe.
have an average lower than in 2022 due to concerns Gasoline supply in Asia is expected to increase from
about the potential economic slowdown, especially in China, which announced the latest round of export quota
the USA and European countries. This is resulting from increases for 2023, which is in line with a high level
an inflationary situation, leading to the central bank of Singapore's commercial gasoline inventory. Diesel
to increase interest rates to alleviate the situation. demand tends to be pressured by concerns about the
In addition, industrial activities in Europe tend to be economic recession in many countries as interest rates
weakening. Global oil supply in 2030 is likely to increase hike by the central banks. In addition, diesel exports
from OPEC+ and the USA which continue to increase from China tend to increase as well as gasoline exports
production. However, crude oil prices are supported by due to increased export quota. However, diesel prices
the USA and Europe continuing to impose sanctions may be supported by European sanctions on Russian
on Russian crude oil imports, as well as the G7 setting refined imports in February. In addition, commercial
a price cap on Russian crude oil trading. This has the diesel inventory in many regions remains at a low level.
potential to affect the supply of crude oil in the market. Jet fuel/kerosene, demand for air cargo is expected
Moreover, China’s border reopening will significantly to continue to be affected by the economic slowdown.
support oil demand in 2023. The average crude oil Nevertheless, jet fuel demand in the travel sector is
price in 2023 is expected to be US$80-87 per barrel. supported by China's borders reopening, which lead to
an increase in both domestic and international travel.
Petroleum products’ situation in 2023 is in line with the
crude oil price trend. Gasoline expects to be affected by

095
PTT Oil and Retail Business Public Company Limited

Nature of Business and Performance Results Corporate Governance Financial Statement




























1
SECTION

























Natur e of Business


and P er f ormance R esults

Nature of Business and Performance Results Corporate Governance Financial Statement




























1
SECTION

























Natur e of Business


and P er f ormance R esults

Financial St
at
ement
Corporate Governance
esults
ormance R
e of Business and P
er
Nature of Business and Performance Results C orpor at e Go v ernance Financial Statement
Natur
f
1. Group Structure and
Business Operations























































1.1 Policy and Business Overview

PTT Oil and Retail Business Plc. (OR) is the flagship company for the oil and retail businesses of PTT Group.
PTT has restructured its business by transferring its oil and retail businesses, including the shares of related companies
under its Oil Business Unit to OR on July 1, 2018. OR offered new shares to the public for the first time (Initial
Public Offering: IPO) and entered the Stock Exchange of Thailand (SET) on February 11, 2021.

OR operates its overall business under the “Empowering All Toward Inclusive Growth” vision to carry out four
missions. These missions are to strengthen the integrated energy business for seamless mobility, to strive
one-stop solution for all lifestyles, to scale portfolio and recognition in the global market, and to create new
businesses aimed at solving social and environmental issues through innovation—a concept recognized as
OR Innovation to establish the Triple Bottom Line for growth together with society, people, and the planet, as well as
achieve business performance. An overview of OR’s business is summarized as follows:





098 Annual Report 2022
(56-1 One Report)