Bangchak to expand retail network overseas

Thailand’s Bangchak Petroleum Plc intends to invest in an overseas oil retail network under its five-year investment plan, the Bangkok Post reports. “We are planning to develop petrol service stations in Laos, Burma and Cambodia starting with one site next year,” Anusorn said. Bangchak currently exports a minimal amount of petrol to Burma. Bangchak has also been shipping lubricants to China and Fiji. It has considered exporting lubricants to Australia and New Zealand as well. Under its five-year plan, 9 billion baht (US$290 million) will be allocated to the oil business, 15 billion baht (US$483.3 million) to solar energy and 1 billion baht (US$32.2 million) to palm oil and black algae projects. In 2012, the company will spend 3 billion baht (US$96.7 million) to upgrade its 120,000-barrel-per-day refinery in Thailand. Bangchak will be ready to market Euro 4-compliant fuels starting in November, he said. Anusorn said the introduction of petrol to meet Euro 4 emission standards early next year would push up local prices by one baht (US$0.03) a liter for gasoline and gasohol and 80 satang (US$0.02) for diesel fuel. In the solar business, Bangchak plans to invest in 500 MW of electricity-generating capacity from solar power by 2020. It has signed power purchase agreements with the Electricity Generating Authority of Thailand and the Provincial Electricity Authority for 118 megawatts (MW). (September 23, 2011)