An upward trend in oil prices will continue over the next several years due to lack of new refining capacity in the Asian region. To tap new opportunities emerging from spiralling oil prices, Thai Oil Plc plans to invest over US$1 billion over the next three years to expand production capacities of its petroleum and petrochemical products.
The new investment projects include a US$217 mln expansion of oil-refining capacity to be completed in Q2 2007. This project will expand Thaioil's refining capacity by 50,000 bpd from the full capacity of 241,000 bpd.
Capacity expansion of subsidiary Thai Paraxylene Plc, by 138% to 853,000 tpa at an investment of US$200 mln. The project is slated for completion in late 2007 or early 2008, and will be in time to take advantage of the peak cycle of aromatics prices.
Thaioil posted total revenue of 63.37 bln baht in Q2 2005, up 45% from 43.66 bln in the same period last year. Its net profit rose 34% to 3.53 bln baht. The company's total revenue in H1 was 111.31 bln baht, a 31% rise from 84.88 bln in the same period last year.
16-Aug-05 
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