Thai Oil Giant PTT Seeks New Markets After Sales Collapse in Cambodia
Thai Oil Giant PTT Seeks New Markets After Sales Collapse in Cambodia
PHNOM PENH, May 29, 2026 — Thailand’s state-linked oil retailer PTT Oil and Retail Business (OR) is seeking new market opportunities outside Cambodia after a sustained consumer boycott sharply reduced its sales and forced dozens of fuel stations to abandon the Thai brand.
According to a report by the Bangkok Post, OR’s fuel sales in Cambodia have fallen by between 50% and 60%, while nearly half of its retail network in the country has ceased operations or switched to competing brands amid continuing tensions between Cambodia and Thailand.
The downturn follows the border dispute that began in late May 2025, which prompted many Cambodian consumers to boycott Thai products. As a result, an estimated 40 to 50 fuel stations previously operating under the PTT brand have reportedly changed affiliation to Cambodia’s Peace fuel network, while others have moved to Caltex and TotalEnergies.
The report said the situation in Cambodia contributed to a 12.5% decline in OR’s overseas sales volume and a 44% drop in first-quarter net profit. Although Cambodia accounted for only around 2% to 3% of the company’s overall earnings, the market disruption had a noticeable impact on its regional performance.
OR’s total revenue during the first quarter of 2026 also declined by 3.5% compared with the same period a year earlier. The company attributed much of the 12.5% fall in overseas fuel sales volume to the closure and loss of business in Cambodia.
Company executives acknowledged that the Cambodia-Thailand dispute had affected earnings and said OR is actively exploring new growth opportunities elsewhere, particularly across the Asia-Pacific region, to reduce reliance on the Cambodian market.
Before the border tensions erupted, PTT operated around 200 fuel stations and 150 Café Amazon outlets in Cambodia. By the end of March 2026, those numbers had fallen to just 91 fuel stations and 136 coffee shops.
One year after the start of the border dispute, the continued boycott campaign has reshaped the competitive landscape of Cambodia’s fuel retail sector, raising questions about whether PTT can regain its former market position in the country.
