Thai Oil studies refining capacity expansion

Thai Oil PCL said it is studying plans to expand its refining capacity by 25,000 barrels a day, and warned that its 2010 net profit will likely be below last year’s because of lower demand for oil products. If approved, the expansion would cost between US$200 million and US$300 million, Chief Executive Surong Bulakul told reporters. The expansion is expected to be completed in 2012, if the company determines that the project is commercially viable, he said. (August 4, 2010)