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Published on November 15, 2007

Cooking oil set for price rise

Energy Minister Piyasvasti Amranand said yesterday that the price of cooking gas would be restructured by the end of October.

He hinted that the price would then rise by at least Bt1.29 per kilogram, which is the present subsidy being paid by the Oil Fund to keep the price down.

Piyasvasti said consideration was being given to how refiners' subsidies should be handled. Refiners are receiving US$315 (Bt10,763) per tonne, compared with a world price of $740. They are therefore shouldering a difference of Bt1.36 per kilo.

"Without a change, motorists will be encouraged to switch to this gas. If the situation remains this way, Thailand will need to import it," he said.

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95-octane out

Bangchak Petroleum is to scrap its distribution of 95-octane petrol next month and plans to increase its sales of gasohol 91 and 95 and biodiesel.

President Anusorn Sangnimnuan said the company would begin selling gasohol with a 20-per cent ethanol content in January, in the expectation that the Energy Ministry will announce an E20 promotion campaign next month.

It will be available in some of Bangkok stations first. Gasohol being sold at present has 10-per-cent ethanol. Already, some Bangchak stations have stopped offering conventional petrol and diesel.

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Indorama up

Indorama Polymers has reported a higher consolidated net profit after tax of Bt265 million for the third quarter of this year, up 27 per cent on the figure for the third quarter of last year.

In US dollar terms, the group achieved 59-per-cent growth in net profit in the third quarter, year on year, and 57-per-cent growth in the first nine months, compared with the same period in 2006.

Management says the results are satisfactory in view of the continued high cost of crude oil, which has a wide impact on the group's operations, from the input cost of feedstock to logistics costs.

The Nation