Thai PTT Global plans to boost sales in SE Asia to offset weak China demand

20-May-16
Thiland's PTT Global Chemical Pcl planned to boost sales in Southeast Asia to offset weak demand from China, the company's biggest overseas market, as per Reuters. PTT Global, the petrochemical flagship of Thai top energy firm PTT Pcl, planned to increase exports to the region to 10-15% over the next two years from 5% now, Chief Executive Supattanapong Punmeechaow told a news conference. Sales to China are expected to fall to 10% by 2018 from 19% now. New markets include Cambodia, Laos, Myanmar and Vietnam, which have high demand for plastics. About 70% of PTTGC's petrochemical products are sold domestically, while the rest are exported. PTTGC, Thailand's largest petrochemicals maker, currently has a production capacity of 8.75 mln tpa and runs a refinery with a crude and condensate refining capacity of 280,000 bpd.
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