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Thailand's PTT squeezes Shell and Exxon with gas station buildup

State-owned group to fuel 30% expansion with retail unit's IPO

PTT gas stations, known for their red and blue flame logo, hold a leading 39% share of Thailand's market.   © Reuters

BANGKOK -- Energy group PTT aims to extend its already wide lead in Thailand's filling station market with a 30% increase in locations, adding to concerns that the state-owned company is throttling private-sector competition.

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