Petroleum Trading Lao Public Company (PTL), established by prominent business figures Chanthone Sitthixay and his better half Savanhthong Phongsavanh, has achieved outstanding goals in terms of ensuring Laos’ overall socio-economic development. The company supplies over 265 million litres of fuel to its consumers annually through its 118 service stations and five branches across the country. Petroleum Trading Lao operates five fuel storage sites with a total storage capacity of 5.5 million litres.
Regarding the company’s leadership, both Chanthone Sitthixay and Savanhthong Phongsavanh have extensive experience in various types of businesses, including the import/export of a wide range of products in Laos. PTL was established in 2008 and has been the second-largest company in the market by market share and revenue since 2011.
Petroleum Trading Lao currently deals with five categories of products: diesel oil, Benzene Regular 91, Benzene Super 95, bunker oil, lubricant oil and petrochemical products. The company sells petroleum through its own retail gas stations under the “PLUS” brand, which currently operates 110 stations across the country. These stations are managed under two models: Company Owned, Company Operated (COCO) for 30 stations, and Dealer Owned, Dealer Operated (DODO) for 90 stations. Additionally, the company also directly sells its oil-based products to project clients, industrial factories, and wholesalers in Laos.
PTL is the first company in Laos to be certified for outstanding international service quality. At present, the company has 300 fuel trucks. Furthermore, under Petro Trade, it is listed as Khouanchay Trading Export-Import Company Limited, which has brought various consumer products to meet market demand through its 20,000 retail stores across the country.
Since 2009, PTL has experienced rapid growth due to the vision of its founders and the executive team, who focus on controlling the quality of products and services. The company imports petroleum from well-known global suppliers through Thailand, Singapore, Vietnam, and Malaysia.
In 2012, the company launched a new type of station designed to meet the daily needs of people in cities, providing convenient, quick, and safe services. PTL has since expanded its stations, increasing the total number of gas stations to cover the entire country, making it the second-largest in Laos for two consecutive years.
In 2013, the company increased its registered capital from LAK 75.60 billion to LAK 350 billion. This increase in registered capital was aimed at expanding additional stations, improving product quality control, and enhancing organisational efficiency to meet international standards (ISO 9001:2015, 14001:2015, and 45001:2018), and to become a professional organisation capable of serving the ASEAN Economic Community (AEC). PTL also improved its gas transport system and enhanced employees’ knowledge. From 2014 to the present, the company has continued to maintain high-quality products and develop services to improve its reputation. The depots now can store up to 5,610,000 litres of oil domestically, and the company leases two seaport terminals in Vietnam with a storage capacity of up to 100,000 metric tons. The total number of gas stations is 110.
The company has also increased its registered capital by issuing common shares through an initial public offering (IPO) on the Lao Securities Exchange. Petrotrade was also in the news recently for signing a Memorandum of Understanding (MoU) with the government, local authorities, and foreign countries, including the concession project agreement for the Vung Ang Seaport project in the Republic of Vietnam. Additionally, the company is involved in the Vung Ang Seaport Laos-Vietnam Development State Enterprise in partnership with the Lao administration.
PTL has signed an agreement to develop a 2,000 MW coal power plant in the Boualapha district of Khammouane province. It will also conduct a feasibility study for a railway construction project in Khammuan province, a project that will connect to the Vung Ang Seaport.