Star Petroleum Refining Plc (SPRC) has announced plans to transform itself from a standalone refinery into a fully integrated energy provider following the completion of its acquisition and integration of Caltex’s fuel marketing operations in Thailand. The strategic move expands SPRC’s presence beyond oil refining into fuel retailing, enabling the company to create a stronger value chain linking production directly to end consumers. Through its subsidiary, Star Fuels Marketing Limited (SFL), SPRC expects greater business stability by balancing wholesale fuel sales with more predictable retail revenues.
The company said the integration will strengthen resilience against volatile crude oil prices and fluctuating refining margins while supporting long-term growth. SPRC currently supplies most of its refined products to industrial customers, but the expansion into retail fuel distribution is expected to diversify revenue streams and improve operational flexibility. Despite challenges from geopolitical tensions, oil market volatility and domestic fuel pricing policies, the company remains committed to supporting Thailand’s energy security and maintaining profitability.
As part of its growth strategy, SPRC has undertaken refinery efficiency upgrades, increased jet fuel production capacity by 15 per cent, improved offshore loading facilities and diversified crude oil sourcing. On the retail side, Caltex plans to expand its network from 530 service stations by adding approximately 200 outlets over the coming years, including up to 30 new stations in 2026. The company expects retail fuel sales to more than double by 2030, while continuing to invest in sustainability initiatives and customer-focused services.