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(Nation) -- The Thai companies
are among many of its rated refining and marketing (R&M) companies that have
some degree of downstream petrochemicals production, consisting largely of
aromatics. Thai Oil, SK Innovation and GS Caltex will all be well positioned to
supply the refining gap left by Japanese producers. PTT Chemical and
Indonesia-based Chandra Asri Petrochemical will also benefit, Moody's said.
Over time, the sustainability of higher product prices, in light of a
rising amount of new production capacity in the Middle East and elsewhere, will
be important drivers for these firms' cash flow, Moody's said in a report
entitled "Situation in Japan Rebalances Asia Pacific's Energy Market".
Japan is a major exporter of petrochemical products such as polyethylene, polypropylene, PET and PVC to neighbouring countries, and China in
particular.
The disaster has stopped about 4.6 million tonnes of ethylene production,
amounting to half of Japan's total capacity, and affected facilities with
capacity to produce 950 KTa of paraxylene.
mrcplast.com
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