Bangchak Corporation Public Company Limited (SET: BCP), under the leadership of CEO Chaiwat Kovavisarach, expects its performance to improve this year, setting a target to raise its average refining capacity to 280,000 barrels per day from last year’s 258,000 barrels per day.
The company anticipates a 5% increase in sales to reach 1,210 million liters monthly, along with an elevated refining margin projected at $5-6 per barrel, up from the previous year’s average of $3-4 per barrel.
In the natural resources sector, OKEA plans to boost production from 36,000-37,000 barrels per day to 50,000 barrels per day, representing a 35% increase from last year.
Given these factors, BCP forecasts that its revenue will continue to grow, aiming for double-digit sales growth compared to the THB 589,877 million achieved in 2024. With stable oil prices and refining margins, the company expects higher EBITDA and profits, suggesting a year potentially more prosperous than the prior one.
This year, BCP has allocated a THB 50 billion investment budget, including M&A activities. Key investments will focus on the natural resources sector at THB 20 billion and green power at another THB 20 billion.
The remainder will be used across refining and trading (THB 4.5 billion), marketing (THB 2.9 billion), new business ventures (THB 1.6 billion), and bio-based businesses (THB 1 billion).
BCP plans to expand its fuel stations by building 100 more, increasing from the nearly 2,200 existing locations, targeting under-invested regions to raise its market share to 30% from last year’s 28.90%.
In Vietnam, the company’s 99 MW wind power project is set with a total investment of THB 4.5 billion, utilizing THB 1.8 billion this year. The project aims for commercial operation by the first half of 2025, contributing to recognized revenue and profit during this period.
BCP’s new ventures include a potash mining project in Nakhon Ratchasima Province, with a 65% stake valued at THB 4.5 billion, requiring approximately THB 500 million this year. The sustainable aviation fuel (SAF) plant, worth THB 8.5 billion, is over 93% complete and commercial operation dates (COD) on 2Q25.
In 2025, BCP will see COD for three power projects: a 99 MW wind power plant in Vietnam, a 290 MW wind plant in Laos, and a solar project in Taiwan, set to gradually start operations.
The company also plans to extend its investments in the natural resources and new business sectors, capitalizing on its petroleum exploration and production expertise from Norway to amplify projects in the Asia-Pacific region.
The strategic use of domestically produced crude oil in both refineries is projected to bolster Bangchak’s group strength and synergy, enhancing Thailand’s energy security.
