Thai Oil eyes to invest in Vietnam’s petroleum market

News - Thai Oil under the fully–integrated gas company PTT Corporation has conducted the study on investment capacity in the Southeast Asia market, especially Myanmar, Indonesia, Vietnam and Cambodia.

Managing Director of Thai Oil, Mr Surong Bulakul said that Thai Oil will focus on investing in oil refinery in aforementioned countries. Apart from the prospective market in Myanmar, Thai Oil is paying attention to Vietnam’s oil refinery industry.

Thai Oil is planning to pump capital in oil refineries, gas pipeline, gas and petrochemical processing factories. As a part of the $1 billion investment plan for next 5 years, Thai Oil will expand seaports, increase paraxylene production capacity and build power plants in Thailand.

Mr Suron and Expert Manoon Siriwan predicted that the world’s oil price would range between $100 and $115 a barrel. The price may increase sharply if Iran closes Hormuz Strait. In another forecast, if European and US economy slip, oil may fall to $75-80 a barrel.