Thai Oil sees lower refining output in 2014 due to shutdown

BANGKOK Wed Feb 12, 2014 12:32am EST

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BANGKOK Feb 12 (Reuters) - Thai Oil Pcl, Thailand's top oil refiner, said on Wednesday its 275,000 barrels-per-day (bpd) refinery will run at 95 percent of capacity this year, lower than last year, mainly due to a 55-day maintenance shutdown from June.

The refiner also aimed to invest $300-$500 million a year over the next three years, Chief Executive Officer Veerasak Kositapaisal told a news conference.

Thai Oil, nearly half owned by state-controlled PTT Pcl , was keen to upgrade two oil refineries in Myanmar, which has capacity of about 20,000 bpd each, he said. (Reporting by Pisit Changplayngam; Writing by Khettiya Jittapong; Editing by Muralikumar Anantharaman)