Star Fuels Marketing, the exclusive licensee of Caltex fuels in Thailand, has partnered with local oil retailer Pure Thai Energy to expand the network of Caltex petrol stations in the country, aiming to gain market share in a competitive domestic fuel retail market.
The cooperation should allow Caltex, a petroleum brand name of Chevron Corporation, to serve more motorists in Thailand, helping Caltex to expand.
"The partnership with Pure Thai will enable our fuel retail business under the Caltex brand to be on track to hit the 10% fuel retail growth by the end of 2024," said Shashank Nanavati, executive VP of Star Petroleum Refining Plc, an oil refinery operator and the parent firm of Star Fuels Marketing.
Pure Thai previously ran an oil refinery, then exited the business after a 20-year contract with PTT Global Chemical to acquire raw materials expired.
Pure Thai operates 78 petrol stations in Bangkok and upcountry. Its service stations will be renovated under the Caltex brand from this month until January, increasing the number of Caltex-branded stations from 450 at present.
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