Thailand's PTTGC feedstock costs to rise from 1 August

30 July 2012 10:02  [Source: ICIS news]

SINGAPORE (ICIS)--Thailand’s PTT Global Chemical (PTTGC) said on Monday it has agreed on a new natural gas pricing formula with parent PTT that will raise its feedstock cost starting 1 August.

“The new formula … under the current oil prices will result in the increase of petrochemical feedstock by $40 (€32/tonne) per metric tonne or by 8%,” PTTGC said in statement.

The formula was based on a crude price range of $70-130/bbl, the company said.

PTTGC uses natural gas as feedstock for petrochemical production.

It is the flagship petrochemical company of Thai energy giant PTT.

($1 = €0.81)

By: Nurluqman Suratman

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly