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Malaysia's Petronas may bid for Conoco fuel stations in Thailand - report


Published : Tue, 23 Jan 2007 02:11
By : Agencies
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KUALA LUMPUR (XFN-ASIA) - Petroliam Nasional Bhd (Petronas), Thailand's PTT and an unidentified Indian company will bid for Conoco's 147 service stations in Thailand, Bernama newswire reported.

PTT executive vice-president Anon Sirisaengthaksin said Conoco is expected to finalize the deal with one of the three bidders next month.

The Bangkok Post reported that Conoco, which has been in the oil-retailing business in Thailand for almost 20 years, is pulling out due to long-term losses.

At the end of 2006, Conoco put up for sale its 40 ProJET fuel stations in Malaysia and 147 Jet stations in Thailand.

(1 usd = 3.49 rgt)

ishun.ahmad@xfn.com

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