SINGAPORE (ICIS)--Thailand’s Integrated Refinery Petrochemical Complex (IRPC) is expected to resume operations at its 320,000 tonne/year base oils plant in Rayong next week after completing a scheduled maintenance, a market source said on Thursday.
The plant was taken off line in the middle of last month and the restart was initially expected during this week. However, the restart was postponed as a result of some technical issues, added the source.
The source said that the impact of the delay will be minimal as term contracts were well-covered and accounted for. The plant can produce Group I 150SN, 500SN and 150BS products.
Meanwhile, the return of IRPC’s plant to the base oils market is expected to alleviate the current tight supply of Group I cargoes in the Asian region.
The snug spot availability was the result of a combination of factors, which include lowered operating rates due to less favourable margins, regional scheduled turnarounds and the closing of the arbitrage window from Europe to Asia because of firm prices in the European region.