(EnergyAsia, June 6 2014, Friday) — The oil refining industry in Thailand is joining its counterparts in Australia, Singapore and Japan in beating a retreat as it feels the competitive pressure from much larger and more sophisticated plants in the Middle East, China and India.

State-owned PTT is planning to sell off its holdings in Bangchak Petroleum (BCP) and Star Petroleum Refining Co (SPRC) to focus on building up its upstream and natural gas businesses. Developed largely to serve the domestic Thai market, the two refineries are increasingly uncompetitive with little scope for expansion and upgrading.