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Thai Bankchak cuts 2009 refining output target

Thai oil refiner Bangchak Petroleum PCL said it had cut its 2009 refining output target to 85,000 barrels per day, down from an earlier projected 89,000 bpd, due to falling margins.

But refining output was expected to rise to 90,000-100,000 bpd in 2010 on anticipation that margins would improve, President Anusorn Sangnimnuan told reporters. (Reuters)