Bangchak Petroleum Plc expects sales revenue to grow marginally

Bangchak Petroleum Plc expects its sales revenue to grow marginally from last year to 100 billion baht (US$3.1 billion), says President Anusorn Sangnimnuan, the Bangkok Post reports. The company’s gross refinery margin is expected to average US$5 per barrel, slightly more than last year. Its gross retail margin at the pumps has improved to 1.50 baht (US$0.05) per liter, lifting sales despite a drop in fuel demand in the first half of this year, partly because of the curfew imposed during the political unrest in May. This year, the majority state-owned refiner expects to run at an average refining capacity of 84,000 barrels per day, slightly below its target. “From now on, we will focus even more on the expansion of alternative fuel, where we are already the leader in local retail market,” Anusorn said. (July 16, 2010)