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Profitability advantage of gas production over naphtha narrowing in Thailand: Fitch

by ChemOrbis Editorial Team -
  • 14/03/2016 (15:56)
According to media reports, international rating agency Fitch Ratings stated that the margins of Thailand’s naphtha-based petrochemical producers have improved on the back of lower oil prices and will continue to do so in 2016 relative to gas-based producers.

Fitch Ratings commented that gas prices did not fall as much as oil prices, leading to a smaller margin advantage for gas-based operators. The agency added that naphtha prices dropped by about 43% in 2015 whereas average gas prices in Thailand were down only by 13%.
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