Thai Oil PLC studies feasibility of upgrading refining facilities

Thai Oil PLC, the country’s largest oil refiner, is conducting a feasibility study for new investments worth between US$2.3 billion and US$2.9 billion to upgrade its oil refining facilities and enhance production efficiency over the next three to four years, according to its new Chief Executive Officer, Surong Bulakul, the Bangkok Post reports. The investment would include US$1.3 billion for a conversion unit, which would allow the company to produce higher-value products such as petrol and diesel fuel, instead of fuel oil. The company is also studying oil refinery capacity expansion to 300,000 barrels per day (bpd), from 270,000 bpd, worth US$100-US$200 million. Surong said the big investments were necessary to lift Thai Oil’s competitiveness among large refineries in Asia. (October 28, 2009)