Petroleum Trading Lao Public Company (Petrotrade) was founded in 2008 by Chanthone Sitthixay with a vision to make petroleum products accessible to all citizens of Laos at fair prices. The founder’s inspiration stemmed from the challenges faced in remote areas, where access to fuel was limited, and prices were unfairly inflated, hindering the development of local businesses and the country’s economy. Petrotrade was established to address these issues and provide a reliable, affordable fuel supply.
Growth and Achievements in the Petroleum Industry
Petrotrade rapidly became a key player in Laos’ petroleum industry, opening its first gas station and storage terminal in 2009 with a capacity of 800,000 liters. The company’s commitment to quality was recognized through multiple certifications, including ISO 9001:2008, ISO 14001:2004, and OHSAS 18001:2007, all awarded by the United Kingdom Accreditation Service (UKAS) in 2010. By 2011, Petrotrade had innovated the first ‘lifestyle’ gas station in Vientiane, offering a range of services such as banking, retail, dining, and vehicle care. The company’s growth continued as it became a member of the Lao Petroleum and Gas Association and listed on the Lao Securities Exchange in 2014.
Quality Certifications and Market Leadership
In 2015, Petrotrade updated its ISO certifications to ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2015, further demonstrating its commitment to quality and environmental standards. The company has grown to hold a 12.5 percent market share in Laos, supplying over 153 million liters of petroleum products to over eight million people through 115 gas stations nationwide, making it one of the largest suppliers in the country.
Commitment to Staff Development and Social Responsibility
Petrotrade’s success can be attributed to the development of its people. The company provides extensive training for its staff in various fields, including sales, marketing, finance, and international languages like English and Chinese. In addition, Petrotrade supports its employees with benefits like free daycare services for new parents and has one of the lowest staff turnover rates in Laos, at just two percent. The company also plays an active role in the community, offering educational scholarships and job opportunities for young graduates. As part of its Corporate Social Responsibility (CSR) initiatives, Petrotrade extends financial support to rural and remote areas, further strengthening its community impact.
Adapting to Global Shifts in the Energy Sector
Facing the global transition from fossil fuels to renewable energy, Petrotrade has embraced this challenge as an opportunity for growth and diversification. The company is investing in energy projects such as thermal power plants, solar energy, electric vehicles, and the development of electric vehicle charging stations at its gas stations. These initiatives position Petrotrade to stay competitive in a rapidly evolving energy landscape, ensuring its continued growth and sustainability in the local and global markets.
In conclusion, Petrotrade’s success is a result of its commitment to providing accessible petroleum products, fostering employee growth, and contributing to the community. The company’s proactive approach to renewable energy and diversification ensures its future leadership in the Lao petroleum industry.
