BANGKOK – Top refiner Thai Oil TOP.BK said on Thursday that falling average selling prices, hit by lower global crude oil prices, would drag its 2009 sales lower.
The company, which expects to report results in mid-March, also plans to sell 5 billion baht ($143 million) bonds in the first quarter of this year to refinance debt, managing director Viroj Mavichak said.
"Obviously our sales are going drop this year given the fact that oil prices have come down quite significantly," Viroj told reporters.
"Having said that, we’re planning a bond sale in the first quarter," he said, adding that the firm had not decided on an average maturity of the bond.
