Bangchak reveals 6 billion baht investment plan

Bangchak Petroleum revealed a five-year investment plan worth up to 6 billion baht (US$176.46 million) to pave the way to it becoming a “green company” in the energy industry. President Anusorn Sangnimnuan said the investment budget was for several projects, including an ethanol plant with a capacity of 300,000 liters per day, oil-quality improvement to meet the Euro 4 standard, a 30-megawatt solar-cell power plant and a petrol-station expansion program. Anusorn said the outlook for the refinery business in the current quarter fell short of a recovery, as refinery margins were still low, which led the company to reduce its oil refining level to 70,000-80,000 barrels a day, from the previous target of 100,000 barrels. (October 23, 2009)