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Kuwait's TKSC’s net profit falls 23% in 2015

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/02/2016 (10:55)
According to media reports, the Kuwait Styrene Company’s (TKSC), Kuwait’s first and only styrene producer, net profit declined around 23% to $97 million in 2015 compared with a net profit of $126 million in 2014. The company cited lower oil prices and instability in petrochemical markets as the main factors behind their weaker financial results.

However, the company reported that despite a planned maintenance, styrene production at their 450,000 tons/year plant rose about 10% in 2015. The company also said that despite a 30% decline in styrene prices last year, they were able to preserve their profit margins owing to the decrease in feedstock costs.

According to TKSC, 2016 will also be a challenging year while they do not expect to see much fluctuation in prices.
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