Thailand’s PTTGC reports sharp decline in Q3 profit
Lower crude oil prices pulled down the refinery margins in spite of strong operating rates while a weaker baht against the US dollar also resulted in a THB2.14 billion ($59.5 million) loss due to PTTGC’S debt of around $1 billion.
However, some analysts report that they expect to see some improvement in the company’s net profit in the fourth quarter in line with improved oil prices and stronger seasonal demand.
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