Here’s everything you need to know about Thailand’s newest energy company, the Thai Energy League, which has announced that it has purchased a 50 percent stake in the country’s largest oil producer, Thailand’s National Petroleum Corp (NPC).
The stakes are undisclosed, and there are no details about the value of the stake.
The deal is expected to be finalized in the first half of 2018.
In a statement, Thai Energy said it “looks forward to developing the oil industry of Thailand and strengthening the Thai economy.”
The Thai Energy league is a $2.5 billion company that, like NPC, is run by a non-governmental group called the Republic of Petroleum and Chemical Industry (RPIC), and has been involved in various energy projects across Thailand.
Its board includes prominent businessmen and politicians, including Prime Minister Yingluck Shinawatra, the former prime minister who was deposed last year following the military coup.
The company has a history of taking on controversial projects in Thailand, including the countrys largest refinery, Petronas, which it purchased in 2011, and its main export terminal, the Phuket International Container Terminal.
It’s been around for decades, and it has a long history of trying to diversify its portfolio into energy.
Last year, the company bought an oil and gas pipeline that ran through the country, and then in 2017, it launched a new energy project, the Trans Phukets National Pipeline, which would connect Bangkok to its largest port, in the north of the country.