Thailand-based PTT unveils new trading office at ADGM

By Salma C, Intern Reporter
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The new trading office of Thailand-based PTT International Trading Business Unit (TBU) at Abu Dhabi Global Market (ADGM) was opened recently by the PTT Chairman, CEO, and Board of Directors, who traveled to Abu Dhabi to mark the milestone along with representatives of ADNOC, IFAD, and ADGM.

PTT is becoming part of a growing energy trading community at ADGM along with ADNOC Global Trading, ADNOC Trading, which started trading operations in 2020, and ICE Futures Abu Dhabi (IFAD), which launched Murban Futures in March 2021.

The opening of India’s Reliance Industries trading offices in October 2021 further reinforced ADGM’s position as a leading commodity trading hub in the Middle East region.

Thailand’s largest corporation is a long-standing and esteemed partner and customer of ADNOC and one of the founding partners in the IFAD Exchange to trade to Murban Futures and a partner in ADNOC’s Offshore concession Blocks, 1, 2, and 3, alongside ENI for offshore exploration and production.

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.

ADGM offers trading companies a dynamic industry community, secure infrastructure, regulatory environment, and strategic location to trade on international markets. Trading in both commodities and derivatives markets has emerged as a major enabler of growth in the UAE economy.

PTT International Trading Business Unit (TBU) is a part of PTT Public Company Limited (PTT), which is a National Oil Company and listed on the stock exchange of Thailand with assets of more than US$ 88 billion. TBU operates a fully-integrated international business to enhance national energy security in parallel with the expansion of trading bases to all regions around the world.

Related: Swiss digital bank SEBA opens new office in Abu Dhabi backed by ADGM