Bangchak to invest US$166 million in refinery upgrade

Thai oil refiner Bangchak Petroleum PCL plans to spend 5 billion baht (US$166.69 million) mostly for refinery upgrades to produce Euro 4 compliant petroleum products in 2011, President Anusorn Sangnimnuan said. Bangchak expects revenues in 2011 to reach 130 billion baht (US$4.33 billion), from 120 billion (US$4 billion). (December 16, 2010)