The Bangchak Petroleum Public Company Limited
The oil refinery at Bangchak was completed in 1964. In that same year, the Thai government announced a tax on oil production within the country, so there was only one way to maintain profitability: Expand refining capacity to 20,000 barrels per day. Because the company did not attract enough investment for such expansion, the government offered a 15-year lease on the oil refinery, with the proviso that production capacity must be expanded. Finally, Summit Industrial Corporation (Panama) bid for this lease and successfully expanded production capacity over the next 4 years.
A rise in worldwide crude oil prices then led to a global economic crisis. When the Thai government considered adjusting retail oil prices, there were persistent objections from labor unions and student unions, including a demand for the government to nationalize the oil refinery. When the government did so, the oil refinery was found to have deteriorated substantially, requiring large amounts of fuel and accumulating losses of about 4 billion baht.
Contact Details
Office Address
The Bangchak Petroleum Public Company Limited
210 Sukhumvit 64 Phrakanong
Bangchak
Bangkok , Thailand 10260
Phone: +66-2335-4999
Fax: +66-2335-4009
Executives
Chairman
Tawat Ked-Unkoon
President, Director, and Secretary of the Board
Anusorn Sangnimnuan