Saturday, December 22, 2007

Thai Oil completes $218m capacity expansion

BANGKOK (Reuters) -- Thai Oil, the country's top refiner, said on Wednesday it had completed a $218 million expansion of its nameplate capacity by 22 percent to 275,000 barrels per day a week ahead of schedule.

Thai Oil, which shut its crude distillation unit 3 (CDU-3) refinery for maintenance on Oct. 6, was in the process of running tests of the CDU unit, which can produce at up to 300,000 bpd, it said in a statement.

Its Thai Paraxylene (TPX) subsidiary was on track to raise its annual capacity to 900,000 tons of aromatic products from 420,000 tons in the first quarter of 2008, it said.

At 0820 GMT, Thai Oil shares were down 1.2 percent at 82 baht, while the overall Thai stock market index .SETI was 1.18 percent lower.

($1 = 33.68 Baht)

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