Thai Oil anticipates a better year in 2012
Thai Oil Plc expects a better financial result next year due to rising demand of oil and petrochemical products.
The company's manager in charge of strategic planning, Pattarada Sangasaeng, said that the averge oil price next year is also expected to increase slightly to US$110 per barrel amid substantial demand.
More revenue would also be realised from an investment in a 220-megawatt small power producer (SPP) project next year.
She added that the company already finished the 2012 investment plan, without further elaboration.
Thanks to higher oil prices, in the fourth quarter this year, Thai Oil expects an inventory gain against a loss in the third quarter. Oil price is now $110 per barrel, against $107 in third quarter. It should also benefit from higher domestic fuel consumption in the fourth quarter, as demand should pick up after water level recedes.
The gross integrated margin (GIM) in the fourth quarter is estimated at between $7-$8 per barrel, while the gross refining margin (GRM) at US$4 per barrel.
