The Company started business by providing fuels and lubricants to vessels such as tankers, fishery boats, and reefer vessels. The Company's customers were domestic and international. The Company supplied fuels as high speed diesel oil, fuel oil, and lubricants.
The Company mainly supplies fuels and lubricants for marine customers. Since 2010, the Company expanded its business to cover supplying fuels for land customers, factories and land transportation and buses. In addition, the Company also supplies fuels and lubricants to fulfill foreign customers' needs. The Company's foreign customers are in Singapore, Laos, Cambodia, and Myanmar, for example.
Fuels supplied are marine fuels, lubricants, and benzene. The Company has no need to invest in fixed assets for its business. When the Company receives customer's purchase order, it seeks to obtain products from both domestic and foreign oil suppliers. In case customer needs the Company to deliver the products, it hires an independent transporter to deliver to customer's defined destination. For customers who would like to receive fuels in the sea, the Company hires oil transporter to deliver the product to them. If customer has a ship at a port or a customer on land, the Company hires tank trucks to deliver the product to customer's defined destination. The Company has a policy to send its inspector on board from loading port to destination to ensure that product specification and quantity is correct, and delivery is on time, so customer feels confident on service delivered.
The Company's profit derived from the difference between oil cost, including other price-related costs, and selling prices. Since its establishment, the Company has continuous profits annually. During 2012-2014, net profit were 2.27%, 2.96% and 2.86% respectively.
The Company registered as oil trader pursuant to Section 10, which sales quantity of each type or all types of oil is 30,000 metric tons or more annually (approximately 36 million liters) but not more than 100,000 metric tons (approximately 120 million liters). For LPG, the quantity is less than 50,000 metric tons and more than 30,000 metric tons annually, or a trader with storage tank of each type or all types more than 200,000 liters. The quantity of oil sold annually is all fuels imported, purchased, refined, produced, or obtained, excluding quantity procured for legal reserve.
In addition, the Company provides food, raw materials, and other services (supply management) for offshore staff and onshore. As the Company sees the prospect to expand catering and services to this customer segment.
Further, the Company acquired Pan Orient Energy (Siam) Limited in the approximate 49.99% of the total issued and paid-up shares as onshore petroleum exploration and production which located at L53/48 Kampaengsaen district, Nakornprathom with 20 years of production. As invested in related business, the Company extended opportunity to growth in long term oil and gas business.