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Chinese Giant Seeks To Buy Stakes In Two Thai Refineries.

Bangkok Post (Bangkok, Thailand)

| October 02, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Yuthana Praiwan

Oct. 2--China National Chemical Import and Export Corporation (Sinochem) has proposed to buy stakes held by PTT Plc in Star Petroleum Refining Co (SPRC) and Rayong Refinery Co (RRC), as well as the stake held by creditors in Thai Oil Co.

The executive of the privatised Chinese petroleum and chemical trading firm met Energy Minister Prommin Lertsuridej yesterday to discuss the issue.

A ministry source said the Chinese investor wanted to buy the 36 percent stakes PTT held in both refineries.

However, since RRC of Shell and SPRC of Caltex, a unit of Chevron Texaco, pooled their operations by forming Alliance ...

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Source: HighBeam Research, Chinese Giant Seeks To Buy Stakes In Two Thai Refineries.