Thailand’s state-backed energy company PTT is warning that it may shut down its operations in Cambodia after a sharp drop in sales and a growing boycott by Cambodian consumers. The Nation newspaper in Bangkok reported that fuel sales in Cambodia have fallen by 50 to 60 percent, while the number of PTT service stations has dropped from about 200 to just 150 since a border dispute between the two countries flared earlier this year.
According to the report, PTT has now classified the Cambodian market as high risk. Sales have continued to fall, and more than 40 local distributors have switched their stations away from the PTT brand. The paper said that if tensions on the border worsen and turn violent, the company could face what it called a worst-case scenario in which PTT pulls out of Cambodia entirely.
The downturn comes as Cambodians nationwide have announced a boycott of Thai products following the border dispute that began in late July 2025. The boycott has affected a range of imports, even though many Thai companies bring goods into Cambodia through third countries.
Just a year earlier, in July 2024, The Nation had described Cambodia as PTT’s second home because it was considered one of the company’s most profitable international markets, generating hundreds of millions of dollars annually. That view changed after Cambodia halted all imports of Thai fuel and gas on June 22, 2025, under orders from Prime Minister Hun Manet as tensions with Thailand escalated.
In the wake of the boycott, Ty Siam, the son of former defense minister Tea Banh, announced on July 31, 2025, that he had acquired PTT Cambodia’s local operations and rebranded the stations as Peace Petroleum Cambodia, known as PPC. By August 9, the new company said that 35 former PTT stations had already converted to the Peace Petroleum brand.
Ty Siam said on October 1, 2025, that Peace Petroleum now has nearly 40 stations across Phnom Penh and several provinces, all of them previously part of PTT’s network.
PTT and its retail arm OR are among Thailand’s most prominent energy and retail companies, known not only for fuel but also for convenience stores such as 7 Eleven and the Amazon coffee chain, which continue to operate in Cambodia.
