Bahrain seeks to enter Thai oil industry
The Bahraini government has expressed interest in acquiring a 36 percent stake in Thailand’s Star Petroleum Refining Company (SPRC) and the Rayong Refinery, reported the Nation. SPRC is currently 64 percent owned by the Caltex Trading and Transport Corporation with the remaining 36 percent held by the Petroleum Authority of Thailand (PTT).
Bahrain's Supreme Oil Council member Shaikh Salman Bin Khalifa Al-Khalifa made reference to the possible purchase during a recent meeting with Thailand’s outgoing Minister of Industry Suriya Jungrungreangkit. Al-Khalifa also mentioned the possibility of cooperating with the Asian state in oil trading.
Located some 120 kilometers from Bangkok in Rayong, the majority of SPRC’s production is sold to its shareholders’ marketing companies, Caltex Oil (Thailand) and PTT under a long-term Offtake Agreement. SPRC can refine 130,000 barrels of crude oil per stream day. Primary products include liquid petroleum gas, unleaded gasoline, super low-sulfur diesel, polymer grade propylene, naptha, fuel oil and asphalt. — (menareport.com)
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