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Thailand’s PTT Global Chemical’s net profit down 45% in Q2

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/08/2016 (14:48)
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.
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