Thai Oil cuts production ratio of jet fuel
Thai Oil Plc has lowered its refinery production ratio of jet fuel during March to April in response to declining demand, following the Covid-19 outbreak, said chief executive officer Wirat Uanarumit on Wednesday. It will instead boost refining of diesel, he added.,
Thus, its refining ratio of jet fuel is lowered to 15 per cent from 23 per cent, while that of diesel increases to 41 per cent from 33 per cent. The refining of benzene remains unchanged at 16 per cent.
Thai Oil will ask shareholders' approval in April on issuing US$2 billion worth of additional debentures within 2025 to fund business expansion and debt repayment. The company has a high cash flow of approximately US$300 million a year.
