Petronas to acquire stakes in airport oil suppliers

Petronas Retail (Thailand) Co. Ltd, a subsidiary of Malaysia’s state-owned oil and gas company, Petroliam Nasional Berhad (Petronas) has earmarked 300 million baht (US$7.98 million) to acquire stakes in two major oil suppliers at Thailand’s new Suvarnabhumi airport. Petronas will take a 2% stake in Bangkok Aviation Fuel Services Plc (BAFS) and a 3.5% stake in Thai Petroleum Pipeline Co. Ltd. (Thappline), according to Mohd Aidnil Bin Adbul Razak, Petronas managing director and chief executive. BAFS provides refueling services for aircraft at Bangkok International Airport at Don Muang and at the new Suvarnabhumi airport, while Thappline operates a 322-kilometer oil pipeline network in the country. (August 10, 2006)