Thai Oil PLC conducts feasibility study on ethanol plant

Thailand’s largest oil refiner, Thai Oil PLC (TOP), is studying an investment in a new ethanol plant in order to supply the biodiesel production of parent PTT PLC, according to Thai Oil Chief Executive Surong Bulakul, the Bangkok Post reports. The feasibility study for ethanol will be finalized early next year. Surong said he was confident that TOP had enough cash on hand for a major new ethanol venture, even though the future of the oil refining industry will remain unpredictable. TOP expects demand to rise to 2 million liters soon, while additional output of 500,000 liters a day is expected to enter the market early next year. (December 4, 2009)