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Thailand's Green Oil Demand Expected to Grow by 50 Percent Next Year.
Byline: Busrin Treerapongpichit
Dec. 2--Four giant oil companies expect monthly sales of up to 150 million litres of green oil next year, a 50 percent rise on the current figure, given increasing demand by fishing trawlers offshore.
PTT Plc, Shell, Caltex and Thai Petrochemical Industry have pooled their production to support the state green oil project under which cheap gasoline is sold to fishermen offshore to reduce fuel smuggling.
Current sales under the project total 95 million litres a month. Sales are expected to reach 100 million litres a month by the end of this year, according to Suwatat Suwanakitboriharn, executive vice-president of PTT's supply and logistics unit.
He said a number of new fishing trawlers and those being repaired were lining up to be registered so they could participate in the project. As a result, demand for the fuel would likely increase significantly next year.
PTT planned to invest 15 million to 20 million baht in building a green oil reserve facility with a storage capacity of two million litres in Phuket next year.
The company's oil depot on the resort island has a storage capacity of 2.5 million litres.
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