PTT studies options for managing 5 refineries

Thailand’s PTT Plc is conducting a study to determine whether a new company should be established to manage all costs and maximize the profits of PTT’s five refinery subsidiaries, The Nation reports. Vice President Anon Sirisaengthaksin said the plan was to prepare for the low gross refining margin expected in the next two years after new refining plants in India and China go on stream. The five refiners are Thai Oil, Rayong Refinery, Bangchak Petroleum, IRPC and Star Petroleum Refining. (August 10, 2007)