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DARK SECRETS: Top allots 1bn capex to support growth | Rare Historical Photos

Top! CAP CFP Oil Thai

Thai Oil's refinery complex in Chon Buri's Sri Racha district.

Thai Oil Plc (TOP), the country's largest oil refinery by capacity, plans to allocate capital spending worth US$1 billion to grow its businesses between 2023 and 2025, with half the budget going to the Clean Fuel Project (CFP).

Under CFP, the company wants to increase its oil refinery capacity to 400,000 barrels a day, up from 280,000 a day, and upgrade fuel oil to products with higher value, including diesel and jet fuel, said Bandhit Thamprajamchit, chief executive of TOP.

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