Outstanding Category

Chaiwat Kovavisarach


Keeping with its Greenergy Excellence Vision, Bangchak is now a renewable energy leader of Thailand with an expansion of renewable energy businesses which are clean and environmentally friendly.

  • The Bangchak Petroleum Public Company Limited
  • Oil & Gas, Mining & Energy
  • 10th Floor, Building A, Energy Complex, 555/1 Vibhavadi Rangsit Road.,
    Chatuchak, Bangkok 10900 Thailand
  • (66) 02 140 8999
  • www.bangchak.co.th

Serving as the President of The Bangchak Petroleum Plc since 2015, Mr. Chaiwat Kovavisarach brings with him more than 25 years’ experience in engineering, investment banking and senior executive management. He commenced his career in 1987 as a project engineer and then subsequently as a production engineer in an electronic company, Thai CRT Co., Ltd., a subsidy of Siam Cement Group (SCG). He then moved into Asset Plus Co., Ltd. in 1994 as an investment banker before taking on a role as a director with SG Crosby (Thailand) and later SG Securities (Singapore) Pte. Ltd. between 1996‐2002. He was a fellow director of the Association of Thai Securities Companies in 2000. In 2002 Chaiwat founded TURNAROUND Company Ltd, a boutique financial advisory / investment banking company in Thailand, holding his managing director position until 2007 before becoming an advisor for Avantgarde Capital Company Limited in Thailand. Mr. Chaiwat has also served as a Non‐Executive Director of the Bangchak Petroleum Plc. between 2012‐2014. He is also a member of the Government of Thailand’s Pension Fund Investment Committee and director of the board.

The Bangchak Petroleum Plc is a Thai petroleum company whose key business operations consist of refining crude oil from the Middle East and the Far East, as well as from domestic sources in Thailand. In 1984, the refinery was corporatized as Bangchak Petroleum to pave way as a strategic move by Royal Thai Government at the time. It was a simple oil refinery which based at suburban of Bangkok. In 1989, Bangchak opened its first community and cooperative service stations to reach out to end customers. In 1994 it was listed on the Stock Exchange of Thailand. Three years later the company was one of those that victimized by the 1997 Asian Financial Crisis. And in 2002, Mr. Chaiwat Kovavisarach became part of the family when the company underwent a successful restructuring process, which is now being used as a case study in many classes across the globe In 2007, Bangchak has upgraded its facilities to be a complex refineries that fuse state‐of‐the‐art technologies with great emphasis on environmental conservation. The upgrade is not only enhance its refining capabilities but also stabilized its financial position, if not improving. The complex refinery produces high‐value gasoline and diesel products. Gasoline, gasohol, and diesel supplied by Bangchak’s refinery are generally beyond standard set by Thai industry and furthermore Bangchak was the first Asian company to come up with EURO 5‐standard for its E20 gasohol with less than 10 ppm in sulphur content, a five‐fold reduction from that of the EURO 4 standard. Since 2009, Bangchak embarked on the green business—including the production of gasohol E20 and E85, as well as the solar‐energy power plant. At the present time, Bangchak becomes the leading Thai Energy company importing crude oil, operating an oil refinery with a maximum crude‐processing capacity of 120,000 barrels per day and marketing its finished oil products through the nationwide network under the trademark of more than 1,000 service stations. Recognizing the significance of alternative energy, which benefits national energy security and lowers trade imbalances resulting from fuel imports, Bangchak service stations focus on selling green alternative fuels only, including Gasohol 91, 95, E20, and E85 and biodiesel‐based Hi‐Diesel, and serves customers with supplementary non‐oil businesses on their compounds. These non‐oil businesses have been crafted to be compatible with Bangchak philosophy for community and environmental e.g. Organic arabica coffee bean with bio‐dependable coffee cup in Inthanin Garden or fresh cooking food in Lemon Kitchen. In addition, Bangchak sells directly to large and medium‐scale oil consumers, including industrial plants, airlines, automobile companies, ocean liners and construction businesses.

I believe in doing the best I can today
Because I don’t know what tomorrow will bring.

Keeping with its Greenergy Excellence vision, Bangchak is now a renewable energy leader of Thailand with an expansion of renewable energy businesses including a solar photovoltaic power plant project with a capacity of 118 MW – known as Sunny Bangchak, a 360,000 liter per day to be expanded to 810,000 liter per day Biodiesel plant, and a 400,000 liter per day Ethanol plant which are clean and environmentally friendly. Moreover, in 2014, Bangchak set up the first oversea subsidiary in Singapore for the purpose of overseas investment, trading, operation and management of the energy, natural resources and petrochemical businesses. To grow its business base, this year saw Bangchak move into the petroleum exploration and production business.

Mr. Chaiwat believes in doing the best he can today. He also thinks that doing something new that serves many different purposes under varying conditions to maximize the benefits for all involved is challenging. After becoming the president of the company, Mr. Chaiwat implemented the ‘BCP Future 3S Strategies’—namely Security, Stability, and Sustainability—to drive investments in new businesses with an emphasis on investing overseas to be more geographically diversify and to be ready for the upcoming AEC. One of his major achievements is the restructuring of renewable energy businesses to support the expansion of renewable energy in the future. The Extraordinary General Meeting of Shareholders No. 1/2015, which was held on October 9, 2558, has approved this restructuring—including listing a subsidiary on the Stock Exchange of Thailand for the first time. This will help drive the company to achieve its strategic goals.

Mr. Chaiwat keeps committing on the company’s mission to strike a balance between business gains and social value which was unique for Thai organizations. Such balanced business management goals backed by determined and ethical staff—committed to the employee culture and values—will enable Bangchak to add value to business as well as society and the environment and become an organization of sustainable growth.


  • The Board of the Year Awards 2015 contest, awarded by the Thai Institute of Directors (IOD).\
  • ASEAN Corporate Governance Awards (TOP 50 ASEAN PLCs), based on a CG survey of Thai listed companies under the ASEAN CG Scorecard 2015 program
  • Certificate of ESG100 Company in recognition of the top 100 companies with outstanding environmental, social, and good governance (ESG) performance.