Thailand's Bangchak reviewing refinery upgrade plan
(Reuters) Bangchak Petroleum Pcl. is reviewing its previously announced plan to upgrade and raise its refinery capacity to 140 Mbpd from 120 Mbpd, a top executive said on Tuesday.
Thailand's second largest oil retailer will consider the environmental impact and returns on investment before making a final decision about the upgrade, President Chaiwat Kovavisarach told reporters.
The upgrade was part of a plan to invest about $25. B in 2015-2020, he said.
The refinery's average run rate for 2016 is expected at 100 Mbpd, higher than an earlier planned 90 Mbpd, Chaiwat said.
He said the run rate should rise to not less than 110 Mbpd in 2017.
Bangchak runs one refinery with a capacity of 120 Mbpd and operates marketing and non-oil retail businesses through service stations.
It has diversified into renewable business and exploration and production in the past few years.
Reporting by Khettiya Jittapong; editing by Jason Neely
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