Sign up | Log in



Home  >>   Daily News  >>   Thailand  News  >>   Energy  >>   Thai Oil may buy Esso
NEWS UPDATES Asean Affairs       7  May 2011

Thai Oil may buy Esso

Related Stories

April 28, 2011
Thai panel delays nuclear plans

April 20, 2011
Refuse power grows in Thailand

April 6, 2011
Thailand’s Bangchak takes greener focus

April 2, 2011
Oil discoveries in Gulf of Thailand

March  18, 2011
Nuclear safety in Thailand needs review

February 4, 2011
Thai firm plans wind energy project

Thailand's largest oil refinery, Thai Oil Plc (TOP), expects to finish its study of a possible acquisition of Esso (Thailand) Plc within four months. CEO Surong Bulakul said details of the proposed acquisition deal such as the amount of shares to be acquired, value of the deal and financial advisers would be made available once the study was finished.

He said the company had not officially discussed the proposal with Esso executives. Local media reports said the Thaioil board had appointed a financial adviser to conduct due diligence on acquiring assets of Esso (Thailand) for about 50 billion baht.

Esso said in a statement to the Stock Exchange of Thailand yesterday that its policy was to not comment on rumors or speculation.

However, Mr. Surong insisted that TOP needed to enhance its competitive edge over Asian oil refinery by seeking further alliances.

The company's strategic policy is to study long-term growth opportunities to expand its business while ensuring good returns for investors, he added.

"We are interested in Esso since our location is next door (in Si Racha, Chon Buri) and we could find good potential for the oil business in the future," said Mr. Surong.

TOP currently has total refining capacity of 275,000 barrels per day, and Esso 177,000 barrels. An industry source said the deal, if achieved, would enable TOP to become Southeast Asia's biggest oil refiner, larger than the Shell operations in Malaysia and Singapore.

TOP could also gain value-added products from aromatics for which demand in Asia is rising sharply.

Thai Oil forecasts global oil prices will range between US$100 and $110 per barrel this year. It is closely monitoring price swings to prevent inventory losses, using hedging to manage risk, while also seeking new crude sources from western and northern Africa.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    7  May 2011 Subsribe Now !
• Myanmar wants 2014 chairmanship Subcribe: Asean Affairs Global Magazine
• Berau Coal deal with Chinese firms Asean Affairs Premium
• Commodities see slower growth
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Philippine markets slide after central bank move
• Singapore votes

• Thai PM Abhisit submits dissolution decree

• Thai Oil may buy Esso

• Thai rice to slow down for election p

Asean Analysis    May 2011

Advertise Your Brand
• WEEKLY SUMMARY Sponsor Our Events

Asean Stock Watch    May 2011

• Asean Stock Watch-May 6 p

Global News Impacting Asia    17 November 2010


• Bank of America sees Asian inflation


• Lloyd’s increases insurance push in Malaysia


• Wells Fargo analyst on euro


• Obama’s visit to Asia


ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand