Thailand’s state-owned oil company PTT opens office at ADGM

Thailand’s state-owned oil and gas company PTT opened a new trading office on Thursday at Abu Dhabi Global Market, as the emirate seeks to establish itself as a global commodities trading hub.

PTT joins the growing energy trading community based at ADGM, which includes Adnoc Global Trading, Adnoc Trading, ICE Futures Abu Dhabi (Ifad), which launched Murban Futures in March 2021, and India’s Reliance Industries, which opened its trading office in October 2021.

“PTT is an esteemed addition to the growing trading ecosystem at ADGM. The development of ADGM as a global trading hub is transforming the industry, home to several major trading companies, including Reliance Industries, Ifad as well as Adnoc’s own trading companies,” state-news agency Wam reported.

The Thai-listed company is a customer of Adnoc and a partner in its Offshore Concession Blocks 1, 2 and 3, alongside Italy’s…