Fitch Ratings revises Thaioil's outlook to stable

Editorial Staff

Fitch Ratings revises Thaioil's outlook to stable, affirms A+ ratings

Fitch Ratings (Thailand) Limited, a reputable credit rating institution, has announced a stable A+ credit rating for Thai Oil Public Company Limited. This places the company in the investment-grade category with low risk.

Additionally, the outlook has been revised from negative to stable, indicating that Thaioil's financial status is expected to improve in 2025, following the commencement of the Clean Fuel Project (CFP). Thaioil is set to benefit from increased production capacity and its enhanced status as a complex refinery. It is worth noting that the minor impact from the crude oil spill incident near the Single Buoy Mooring (SBM-2) has been largely mitigated, as the majority of the associated costs are covered by various insurance policies.

Thaioil is Thailand’s largest refinery and supplier of petroleum products. Founded in 1961, we operate one of the most efficient refineries in Asia Pacific with the current capacity of 275,000 barrels per day.

Thaioil operates under the operational excellence principle, operating as an integrated group of businesses in oil refinery, petrochemicals and lube base oil with supporting businesses, e.g. power generation, solvents, logistics and renewable energy generation, LAB : an intermediate in the production of surfactants, pipeline transportation, petrochemical products, and new s-curve.

Thaioil leads the Thai refinery industry through a well-planned and integrated production process, yielding optimum efficiency. Our products are of high quality, rated in the top quartile of refineries in Asia Pacific, at lower production costs – giving Thaioil a recognized