Chevron Thailand, a major oil retailer operating under the Caltex brand, allocated US$200 million in capital spending to expand its businesses from 2019 to 2021 despite lower demand for oil fuel caused by the pandemic.
Country chairwoman and general manager Alice Potter said on Wednesday part of the three-year budget, the highest value in a decade under the Caltex Growth Project, will be used to develop 100 new petrol stations nationwide and give existing ones a facelift.
The company wants to add value to the oil refilling facilities, offering more convenience and safety to customers. Both new and renovated petrol stations will be equipped with a digital system under the company's Smart Design Pump.
Last year Chevron joined hands with Bangkok Bank to offer contactless payments through Caltex Go Mobile application.
Part of the expenditure is for promotion campaigns for oil products and expansion of non-oil businesses at Caltex petrol stations.
Ms Potter wants to increase the number of petrol stations to 500 by next year from 400 at present.
Chevron plans to form a partnership with local investors, having them operate 95% of its petrol stations.
She said the company wants to inform motorists about its oil product innovations, including lube oil.
For its non-oil business, Chevron plans to work with large multinationals and small local non-oil firms, especially those in the food and beverage industry, for its Caltex petrol stations. This year marked the introduction of Chaodoi Coffee, Somtum Jadjan (papaya salad with a strong taste) and Moom Gapao (basil corner) at roughly 100 petrol stations.
Ms Potter said oil sales under Caltex brand this year are expected to grow by more than 1%.