Thailand’s PTT Global Chemical’s net profit down 45% in Q2
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Thailand’s PTT Global Chemical’s net profit fell 45% on the year to 4.92 billion baht ($141.46 million) in the second quarter because of a two-month planned shutdown of its refinery and unexpected shutdown at its olefins cracker. However, the company’s net profit rose 5% from the previous quarter on the back of stronger prices of the Dubai oil benchmark.
The company’s refinery run rate plunged to 35% from 100% a year earlier while its gross refining margin fell 25% on the year to $4.05 a barrel in the April-June period.
According to analysts, PTTGC’s operations will improve in the second half as no maintenance shutdown is scheduled in the upcoming period.
The company’s refinery run rate plunged to 35% from 100% a year earlier while its gross refining margin fell 25% on the year to $4.05 a barrel in the April-June period.
According to analysts, PTTGC’s operations will improve in the second half as no maintenance shutdown is scheduled in the upcoming period.
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