Thai refining and marketing company Bangchak Petroleum plans to invest Baht 20bn (US$610m) in 2015 and 2016, as part of a wider plan to invest Baht 90bn (US$2.9bn) in the next six years. The group will dedicate 60% of the 2015-2016 investment (US$366m) to upstream exploration. In 2013, Bangchak Petroleum acquired an 80% stake in Nido Petroleum, an Australian oil and gas exploration company, to secure its oil supply. The group is seeking to bid for oil concessions in Thailand and to acquire oil fields in the South China Sea and in the Gulf of Thailand. In the refining sector, Bangchak Petroleum aims to raise its refining capacity to 105,000 bbl/d in 2015; maintenance operations in 2014 reduced the available capacity to 86,480 bbl/d in 2014 (from 99,340 bbl/d in 2013). The remaining 40% (US$244m) will be directed to its renewable activities; the group is diversifying its activities into biofuels and solar power to limit refinery-related risks and plans to increase its renewable power capacity by 300 MW over the next two years. Biodiesel production capacity should double to 810,000 l/d.
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