Published On: Wed, Jul 4th, 2012

Thai Bangchak declares force majeure after fire

Thai Bangchak declares force majeure after fire

Thai Bangchak declares force majeure after fire

Thailand’s Bangchak Petroleum Pcl declared force majeure on Wednesday after a fire broke out at its 80,000 barrel-per-day crude distillation unit, a senior executive said.

The force majeure would prompt it to sell some crude, which is in the delivery process, because it has no storage after it shut all units of its refinery, senior executive vice-president Wattana Opanonamata told Reuters.

Bangchak has capacity of 120,000 bpd, with two crude distillation units. It had aimed to produce about 94,000-95,000 bpd this year but that will be cut to 90,000 bpd because of the fire.

Source : http://www.reuters.com/article/2012/07/04/thailand-bangchak-forcemajeure-idUSL3E8I418820120704?feedType=RSS&feedName=cyclicalConsumerGoodsSector&rpc=43