PTT Global Chemical imports of petrochemical feedstocks after declines in global crude prices

13-Mar-15

Thailand's PTT Global Chemical PCL is studying several options for supplying sufficient raw material to its petrochemical plants, including imports of oil feedstocks after declines in global crude prices, as per Reuters. The move is part of a plan to cope with a potential drop in domestic natural gas supply after Thailand's government put bidding for new oil and gas concessions on hold, chief executive Supattanapong Punmeechaow told reporters. "Natural gas in the Gulf of Thailand is likely to be depleted over the next 7-8 years. We have to consider several options including using raw material from our refinery, importing more feedstock and shale gas," Supattanapong said. PTT Global, petrochemical flagship of Thailand's top energy firm PTT PCL, will use more naphtha from its oil refinery to feed its olefins crackers which make products such as ethylene and propylene. PTT Global, one of the world's top 10 ethylene makers, has petrochemical capacity of 8.75 mln tpa and runs a refinery with a crude and condensate refining capacity of 280,000 bpd.