14 December 2011 07:50 [Source: ICIS news]
SINGAPORE (ICIS)--Thailand’s Integrated Refinery Petrochemical Complex (IRPC) is planning to restart its 320,000 tonne/year Group I base oil plant at Rayong on 15 December after completing a turnaround, a company source said on Wednesday.
The plant was shut down on 1 November for 45 days of scheduled maintenance, the source added.
After the restart, the company will prioritise supplies to its term buyers, both at home and abroad, he said.
Demand from Thailand’s lubricant producers is rising as most of them are gradually resuming normal production in December, as the country’s massive floods recede, he said.
Meanwhile, IRPC is planning to supply 1,000 tonnes of BS150 to China’s spot market in December, he said, adding that no deals have been concluded so far.
Taiwan’s CPC Shell Lubricants is planning to restart its 265,000 tonne/year Group I base oil facility in Kaohsiung before 15 December as well, a market source said.
Base oil supplies will rise in Asia as production has resumed at the two plants, however, demand from Asia will stay weak, the source said.
Asian Group I base oil prices are therefore unlikely to rebound in December, he said.
IRPC mainly produces 150SN, 500SN and BS150 base oils.
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