Bangchak eyes second refinery
Bangchak Petroleum is studying the construction of a second oil refinery worth Bt24 billion with output of 150,000 barrels per day within four years.
The study is in anticipation of expected demand in the next eight to 10 years.
Meanwhile, the company has set aside an investment budget of Bt6 billion to expand next year.
The budget comprises Bt1 billion to open 25 petrol stations, Bt1 billion to renovate its existing oil refinery, and the rest to build a solar-power plant.
Bangchak believes that its earnings before interest, tax, depreciation and amortisation will reach Bt7 billion this year after showing a net profit of Bt3.12 billion or Bt2.27 per share in the first nine months.
The results were buoyed by the crude-oil price, which has stayed at US$103-$107 per barrel, president Anusorn Sangnimnuan told a news conference yesterday.
The results also reflected the July start-up of the first phase of the Sunny Bangchak solar farm in Ayutthaya’s Bang Pa-in district, which will contribute Bt400 million in revenue this year.
The second phase of the 50-megawatt solar-power plant in Chaiyaphum’s Bamnet Narong district and Bang Pahan district in Ayutthaya will commence operations in 2013, with revenue of Bt1.5 billion flowing to the company that year. Bangchak Petroleum’s subsidiary Bangchak Solar Energy |Co has established a wholly owned unit, Bangchak Solar Energy (Buriram) Co, with registered capital of Bt50 million, the company reported to the Stock Exchange of Thailand yesterday.
The retail price of fuels in the last two months of this year will be maintained near the current price. Diesel has been fixed at Bt30 per litre per government policy, while gasohol 91 remains at Bt34-Bt35 and gasohol E20 at Bt31-Bt32.
As part of the company’s support of the government’s policy to promote alternative energy, next year it will end gasohol 95 sales and expand its gasohol E20 distribution to 700 stations and gasohol E85 to 100 stations, Anusorn said.
