Home / Knowledge / News / Textiles / Production halt will have no effect on supply - PTTAR
Production halt will have no effect on supply - PTTAR
29
Aug '08
PTT Aromatics & Refining Plc (PTTAR) has yet not resumed operations of its two crude oil refining units.

Official sources from the company informed Fibre2fashion that the units had halted production due to minor technical malfunctions in refining process. However, it was also assured that this inactivity due to maintenance shutdown would not affect other sections or even the supply of aromatics.”

The unprecedented problem in the heat exchanger is being fixed but until then resumption of production is unlikely.

The closed plant has a capacity of 145,000 barrels a day but due to this unscheduled shutdown that occurred on August 21 and the consequent decline in gains from refining crude oil, this years earnings of the company may be under pressure.

While the gross refining margins of PTTAR plunged by 31 percent to US $4.94 a barrel in the second quarter, those of Thai Oil Plc went up by 22 percent to touch $9.60 a barrel.

Moreover, it has been predicted that crude prices for the remaining period of the year is likely to stay between $100 and $120 per barrel and would average $120 next year on emerging market demand. In the meanwhile, lowered investments, international politics and high cost for refinery investments would also keep the prices inflated.

Fibre2fashion News Desk - India


Must ReadView All

Amazon infuses additional $400 mn into India operations

Apparel/Garments | On 20th Aug 2018

Amazon infuses additional $400 mn into India operations

Amazon has invested an additional $400 million (₹2700 crore) in two...

Moldova wooing Indian investors in textiles, agriculture

Textiles | On 20th Aug 2018

Moldova wooing Indian investors in textiles, agriculture

Moldova is wooing Indian investors in textiles, agriculture and a few ...

Courtesy: CSIRO

Textiles | On 20th Aug 2018

CSIRO in Australia working on next generation cotton

Scientists from Australia's national science agency Commonwealth...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Top executives
Retailers

Weak rupee breeds inflation

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search