Bangchak Corporation (BCP), through its wholly-owned subsidiary Bangchak Hong Kong Holding Limited (BHK Holding), has finalized the acquisition of a 100% stake in Chevron Hong Kong Limited (CHK). The acquired entity will subsequently be renamed Bangchak Hong Kong Limited (BHK).
This strategic move grants BCP comprehensive control over CHK’s existing energy business in Hong Kong. The portfolio includes 31 service stations, industrial and marine fuel operations, and an international-standard oil terminal with a jetty. Notably, the service stations will continue to operate under the established Caltex brand, a transition facilitated by a trademark agreement between Bangchak and Chevron.
Chaiwat Kovavisarach, Group Chief Executive Officer and President of BCP, emphasized that this acquisition represents a pivotal moment for Bangchak’s global ambitions. The company aims to bolster its fuel retail segment, enhance its energy logistics infrastructure, and foster regional trust. Hong Kong was strategically selected for this expansion due to its advanced free economy, strong legal system, liberal retail trade policies, high credit rating, and its crucial role as a major logistics and maritime hub in Asia. BCP is committed to elevating its competitive edge, generating sustainable value, and positioning itself for the future of the energy sector.
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