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Thai PTT says no plan to sell more refineries after Star Petroleum IPO

[BANGKOK] PTT PCL, Thailand's largest energy firm, has no plan to sell stakes in its oil refineries over the next few years after listing its 36-per cent owned Star Petroleum Refining Co (SPRC) in late 2015, a senior executive said on Friday.

PTT will have stakes in three refineries run by its units after it sells the 36 per cent stake in SPRC via an initial public offering, Phichin Aphiwantanaporn, vice president for investor relations told investors.

State-controlled PTT has stakes in four of six oil refineries in Thailand after it sold out its holdings in Bankchak Petroleum to reduce criticism about its monopoly in the domestic oil and gas business.

REUTERS