BANGKOK, Jan 12 — Thai energy conglomerate Bangchak is to buy a controlling stake in US energy giant ExxonMobil’s business in the kingdom, the two companies said Thursday. The...
BANGKOK, Jan 12 — Thai energy conglomerate Bangchak is to buy a controlling stake in US energy giant ExxonMobil’s business in the kingdom, the two companies said Thursday.
Bangchak said the agreement valued ETL at 55.5 billion baht in total and the sale is expected to be completed in the second half of 2023. “This investment is a step towards greater energy security, balancing our long-term strategy with energy affordability and sustainability,” said Chaiwat Kovavisarach, Bangchak Group’s chief executive officer and president.
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