Thailand's PTT Global to cut naphtha exports for use as feedstock for its olefin crackers

Thailand's PTT Global Chemical PCL (PTTGC), planned to reduce the export of naphtha and use it instead as a feedstock for its own olefin crackers after declines in global crude prices, as per Reuters. Using naphtha from its refinery to feed the petrochemical plants could raise its annual olefins capacity by 600,000 tons to 3.5 mln tons, as per Chief Executive Supattanapong Punmeechaow, adding that global oil prices are likely to stay at low levels over the next five years and we have to prepare for that. The company will examine more details about investment and focus on high value-added petrochemical products to boost margins, he said, adding the project is part of preparations for a potential decline in domestic gas supplies PTTGC normally exports 1.32 mln tpa of naphtha. It produces petrochemicals primarily from natural gas, and in the past it enjoyed good margins by using domestic gas supplied by its parent PTT from the Gulf of Thailand. One of the world's top 10 ethylene makers, PTTGC has a petrochemicals production capacity of 8.75 mln tpa nd runs a refinery with a crude and condensate refining throughput capacity of 280,000 bpd
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