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(Plastemart) -- Thailand's largest
integrated aromatics refinery - PTT Aromatics and Refining Pcl expects higher
oil prices and rising paraxylene spreads to push up earnings in 2011, as per
Reuters. Paraxylene spreads should be more than US$400/ton in 2011 on increased
demand. Q4-10 net profits are expected to be good on likely gains from the
company’s oil inventory as oil prices continue to rise.
Thanks to higher margins and foreign exchange gains, PTTAR returned to a
net profit of 695 million baht in Q3 after a net loss in the quarter ended June-
its first loss in five quarters on account of lower petrochemical product
margins and crude inventory losses.
The company, 48.6% owned by top Thai energy firm PTT Pcl has refining
capacity of 280,000 bpd and annual capacity to produce 2.26 mln tons of
aromatics products.
mrcplast.com
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