Bangchak expects profitable retail petrol business

Bangchak Petroleum Plc (BCP), the majority state-owned oil refiner, expects its retail petrol business this year will turn a profit for the first time in four years, according to President Anusorn Sangnimnuan. The average margin on petrol sales next year is expected to rise to 1.50 baht (US$0.04) per liter from 1.40 baht (US$0.04) this year and 0.90 baht (US$0.03) in 2007, thanks to the sharp drop of global oil prices since July. Bangchak, Thailand’s fourth-largest refiner, also expects its gross refining margin next year would range from US$4-US$6 per barrel, similar to this year’s figure. (December 16, 2008)