Indonesia’s Chandra Asri sees jump in profit on lower oil prices
The surge in profit from Indonesia’s largest naphtha cracker operator was boosted mostly by oil prices below $50/bbl since the company’s main raw material is petroleum naphtha and by rising production capacity.
In 2015, the company had a scheduled turnaround which lasted for 85 days and a cracker expansion project. In 2016, Chandra Asri benefited from the expansion by increasing its production capacity and sales volumes which also generated better operating profit margins.
Chandra Asri’s revenue also rose to $882 million from $799 million recorded in 2015.
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