Thai Oil Q4 gross refining margin at $11.7 a barrel

BANGKOK, Feb 18 (Reuters) - Thai Oil PCL TOP.BK, the country's top oil refiner, said on Monday rising crude oil prices helped boost its gross refining margin to a historic high of $11.7 a barrel in the October-December quarter.

The fourth-quarter margin was up from $0.73 a barrel in the same period in 2006 when Thai Oil posted an inventory loss, the company said in a statement.

The refiner's integrated margin, which include those from paraxylene and lube-based oil businesses, was $11.3 a barrel in the fourth quarter, up from $4.0 in the same period in 2006, it said.

Thai Oil, nearly half owned by top energy firm PTT PCL PTT.BK, reported a better-than-expected 8.6 percent rise in 2007 net profit on Friday due to strong refining margins.

Average margins for Asian complex refineries were $7.7 a barrel in the October-December period, compared with $9.5 in the previous quarter, according to Reuters data <REF/MARGIN1>.

Thai Oil shares, valued at $5 billion on the Thai bourse, were up 1.3 percent at 78 baht at 0355 GMT, when the main index was up 0.04 percent. ($1 = 32.50 Baht) (Reporting by Khettiya Jittapong, editing by Darren Schuettler)