Thai Oil Public Co. Ltd. (Thaioil) is the leading fully integrated refining and petrochemical company in Thailand. The company owns and operates the largest single-site and most complex oil refinery with a nameplate capacity of 225 thousand barrels per day (kbd). Through its wholly owned subsidiaries, the company has expanded into aromatics with a capacity of 420 thousand tons per annum (kta) and into lube base oil with a capacity of 270 kta. It is also involved in power generation and marine transportation. The ratings on Thaioil reflect its strengthening financial profile, as the company used its strong operating cash flows to reduce borrowings. For the year ended Dec. 31, 2006, Thaioil reported revenue of Thai baht (THB) 279.1 billion
