Bangchak Petroleum resumes oil depot and biodiesel plant operations

Bangchak Petroleum PCL announced the resumption of operations at its oil depot and biodiesel plant in Ayutthaya province because the floodwaters have receded. Bangchak President Anusorn Sangnummuan told reporters that the biodiesel plant will run at its full capacity, producing 300,000 liters a day. Because of lower demand due to the floods, Bangchak Petroleum’s refinery utilization fell to 90,000 barrels a day but the company plans to increase capacity to 100,000 barrels a day in December. Anusorn said that the increase from US$6 to US$7 per barrel in average gross refining margin from October to mid-November will most likely offset the expected revenue loss of THB100 million (US$3.2 million) per month due to the floods. (November 14, 2011)