Categories: Economy

IRPC establishes a Crisis War Room to tackle global volatility while advancing its core business and megatrend-driven investments in high-value petrochemicals across ASEAN. To navigate mounting global economic and trade uncertainties, IRPC Public Company Limited has launched a dedicated Crisis War Room aimed at enabling swift, real-time responses to market volatility. The initiative, announced on 9 May 2025 by President and CEO Mr Terdkiat Prommool, is part of a broader strategy to strengthen the company’s long-term investment position. At the same time, IRPC is reinforcing its core operations through improved production efficiency, cost reduction, and sound financial risk management. These efforts are anchored in two strategic pillars: 1. Core Up Lift and 2. Step Up & Beyond. Core Up Lift Strategy This strategy aims to optimize and future-proof IRPC’s petroleum and petrochemical operations. Key components include: Commercial Excellence: Increasing domestic diesel sales and expanding into high-demand markets for premium fuels like Low Sulphur Diesel and Jet A-1. Specialty Portfolio Expansion: Prioritising high-value petrochemical products such as phthalate-free polypropylene (PP) for medical and food packaging, and ultra-high molecular weight polyethylene (UHMWPE) used in engineering applications. These are being positioned for growth in ASEAN markets including Vietnam, Malaysia, and Indonesia. Optimisation &…

IRPC advances clean energy and specialty materials to drive growth amid global challenges and shifting regulations. IRPC Public Co., Ltd., led by President and CEO Terdkiat Prommool, is leveraging its expertise in petroleum, ports, and property businesses while expanding into new opportunities in innovative materials and sustainable energy. Despite the challenges posed by economic volatility and global uncertainties, IRPC is determined to achieve growth through capacity enhancement, cost reduction, and maximising asset utilisation. “IRPC is focused on fostering growth by deploying digital technologies to enhance safety and operational efficiency while strengthening our human resources,” said Terdkiat. “Innovative energy materials aligned with global megatrends will be the key to overcoming challenges and achieving our Net Zero goals while balancing business growth, societal contributions, and environmental sustainability.”  2024 Business Performance Highlights  In April 2024, IRPC launched the Ultra Clean Fuel (UCF) project, producing Euro 5 diesel and Jet A-1 fuel in compliance with Joint Inspection Group (JIG) standards to support global aerospace growth. Despite a sluggish petrochemical market, the company committed to increasing its portfolio of innovative and specialty products by 36%, focusing on high-potential markets such as packaging, medical, electric vehicles, and electronics. The company also expanded its clean energy initiatives…

(15 มกราคม 2568) นายเลอศักดิ์ ทองร่วง รองกรรมการผู้จัดการใหญ่ ปฏิบัติการ บริษัท ไออาร์พีซี จำกัด (มหาชน) และ พลโท อภิชาติ ไชยะดา เจ้ากรมการพลังงานทหาร ศูนย์การอุตสาหกรรมป้องกันประเทศและพลังงานทหาร ร่วมลงนามบันทึกความเข้าใจระหว่าง ไออาร์พีซี และ สำนักงานปลัดกระทรวงกลาโหม เพื่อพัฒนาการกลั่นปิโตรเลียมให้มีประสิทธิภาพ ส่งเสริมองค์ความรู้แก่บุคลากรจากการปฏิบัติงาน ก่อให้เกิดการแลกเปลี่ยนประสบการณ์ด้านการกลั่นปิโตรเลียม ความร่วมมือทางวิชาการ ด้านเทคโนโลยี รวมถึงเสริมสร้างความมั่นคงทางพลังงานของประเทศ และส่งเสริมความสัมพันธ์อันดีระหว่างหน่วยงานต่อไป ณ ศูนย์นวัตกรรมไออาร์พีซี จ.ระยอง

IRPC’s solar power plant in Songkhla boosts energy security and drives sustainability goals in Thailand. IRPC Public Co., Ltd. (IRPC) is making strides in renewable energy with the development of a 74.88-megawatt solar power plant on its 716-rai estate in Chana District, Songkhla. The project, undertaken by IRPC Clean Power Company Limited (IRPCCP), a joint venture with Global Power Synergy Public Company Limited (GPSC), aims to enhance energy security and promote sustainable growth in southern Thailand. Terdkiat Prommool, President and CEO of IRPC, announced that the Energy Regulatory Commission (ERC) has granted a concession to IRPCCP to operate as a producer and trader of renewable electricity under the Feed-in Tariff (FiT) scheme for 2022–2030. The project aligns with Thailand’s Power Development Plan (PDP2018 Rev.1) to increase the proportion of renewable energy in the national power system. The solar power plant will have a 25-year power purchase agreement with the Electricity Generating Authority of Thailand (EGAT) and is expected to begin commercial operations by 2028. Construction is slated to take 12–15 months. This initiative supports IRPC’s Net Zero commitment and aligns with the sustainability goals of the PTT Group. Additionally, it maximises asset utilisation, boosts economic growth in the region, and…

IRPC showcases refinery excellence and commitment to sustainable energy policies during Deputy Prime Minister’s visit. Pirapan Salirathavibhaga, Deputy Prime Minister and Minister of Energy, along with Sarawut Kaewtathip, Director-General of the Department of Energy Business, and Triphob Wongtrirat, Governor of Rayong, were warmly welcomed by Lersak Thongruang, Senior Executive Vice President of Operations, and Wanida Utaisomnapa, Senior Executive Vice President of Corporate Commercial and Marketing, during a visit to IRPC’s oil refinery in Rayong. The visit featured a comprehensive presentation on IRPC’s oil refinery operations, fuel logistics and transportation systems, and its advanced fuel balance monitoring processes. The delegation observed key aspects of the refinery’s operations, including fuel transfers from vessels to tankers, storage protocols, and real-time fuel balance monitoring. IRPC also demonstrated its fuel reserve procedures and shared detailed data analysis reports from its state-of-the-art control room. IRPC highlighted its high-efficiency refinery management practices, which meet global standards, and reaffirmed its commitment to aligning with government energy policies through sustainable and competent practices. The visit underscored the company’s role as a leader in energy management and innovation, showcasing its dedication to supporting Thailand’s energy goals. IRPC expressed its honour in hosting the Deputy Prime Minister and key officials, viewing…

Forum sheds light on global shifts post-U.S. government transition IRPC Public Company Limited (IRPC) recently held a high-profile hybrid forum titled “Direction of Trade War and Tech War after the New U.S. Government”, bringing together distinguished experts and key industry leaders to provide critical insights into the evolving global economic landscape. The forum featured prominent speakers, including Dr. Arm Tungnirun, Director of the Chinese Studies Center at the Institute of Asian Studies and Lecturer at the Faculty of Law, Chulalongkorn University; Predee Daochai, Chairman of PTT Global Chemical Public Co., Ltd.; Prof. Dr. Bundhit Eua-arporn, Chairman; and Terdkiat Prommool, President and CEO of IRPC Public Co., Ltd. Attendees included board members and executives from PTT Group companies. Navigating Complex Global Dynamics The session highlighted the far-reaching implications of the ongoing trade and tech wars, which were intensified during the Trump administration and continue to reshape economic policies and international relations under subsequent U.S. leadership. IRPC underscored the importance of understanding these shifts to adapt its strategic direction effectively. Dr. Arm Tungnirun offered valuable perspectives on the geopolitical landscape, emphasising the need for businesses to assess risks and seize opportunities arising from the rivalry between global powers. “While challenges persist, such…

IRPC forecasts a surge in oil demand during the winter season. The forecast aligns with the petrochemical group’s preparation for production and distribution of products during the year-end festival season due to increasing demand expectations. IRPC aims to drive the organisation with innovation and create business intelligence with the Save Overcome Strive (SOS) strategy, while keeping track of the impacts affecting the company to provide solutions to cope with global economic volatility. IRPC Public Co., Ltd. (IRPC), led by Terdkiat Prommool, President and CEO, revealed the trend of the crude oil market in Q4 2024, predicting that overall oil demand will increase due to the need for diesel and fuel oil for energy production during winter. Meanwhile, the demand for petrochemical products is expected to improve in preparation for the year-end festival. In addition, China’s economic stimulus measures, focusing on building domestic purchasing power, alleviating deflation, and stimulating the real estate sector, have resulted in positive signs for the recovery of the industry. However, in Q3/2024, crude oil price volatility and uncertainty in the world market, coupled with uncontrollable risk factors from the economic slowdown in China, the United States, and Europe, led to a decline in crude oil prices,…

New MoU fosters R&D and knowledge exchange, advancing astronomy-based innovations for commercial use and sustainable development. IRPC Public Company Limited, represented by Mr. Anucha Somjitchob, Executive Vice President of the IRPC Innovation Center, has entered into a Memorandum of Understanding (MoU) with the National Astronomical Research Institute of Thailand (NARIT), led by Dr. Saran Poshyachinda, Executive Director of NARIT. Signed on October 22, 2024, this collaboration aims to drive research and development, advancing innovations for commercial applications. By integrating expertise in astronomy, engineering, technology, and innovation, along with practical operational experience, the partnership seeks to maximise mutual benefits. Additionally, the agreement encourages knowledge exchange, academic data sharing, and technology transfer to support the professional development of personnel and sustainably promote the missions of both organisations.

KASIKORNBANK (KBank) has joined forces with IRPC Public Company Limited (IRPC) to create an innovative financial instrument aligned with ESG principles. This collaboration marks Thailand’s first-ever interest rate swap using social management criteria, known as a Social-Linked THOR (Thai Overnight Repo Rate) swap. This groundbreaking financial instrument offers preferential interest rates if specified social impact targets are met, reinforcing both companies’ commitment to advancing their businesses through ESG principles. Mr. Tipakorn Saiphatana, KBank Executive Vice President, said, “The Bank always places importance on promoting sustainability through innovative financial products. With this in mind, the Bank recently launched a new financial product, which is the first of its kind in Thailand for the issuance of a THOR interest rate swap, with conditions linked to social sustainability development goals. If customers meet these goals, they will receive a preferential interest rate, referred to as Social-Linked THOR, designed to help customers manage financial risks while promoting sustainability within their organizations and Thai society. This financial product underscores KBank’s commitment to operating its businesses in line with the principles of sustainable banking to drive the Thai economy and society towards sustainable growth.” Mr. Phichin Aphiwantanaporn, Senior Executive Vice President, Corporate Accounting & Finance of…