Article: Bangchak cuts '09 production target.

Byline: BANGKOK:

Thai oil refiner Bangchak Petroleum PCL said it had cut its 2009 production target to 95,000 barrels per day (bpd) of oil products due to a delay in plant upgrade plans.

The company had expected to produce 100,000 bpd of oil products next year, senior executive for finance Patiparn Sukorndhaman told reporters. This is the second reduction in a month. It had originally aimed for up to 120,000 bpd next year but said in late October it had cut that back due to weak demand. The company has said it aimed to produce 70,000 bpd of refined products this year. Bangchak, majority owned by the Finance Ministry and top oil and gas firm PTT PCL, is ...

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