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PTTGC had a net loss of 13.3 billion baht

 Last Update: 2023-01-04
 Source: Internet
 Author: User

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Recently, PTT Global Chemical (PTTGC) released its third quarter financial report
.
According to the financial report, the company had a net loss of 13.
3 billion baht for the current period, compared with a net profit of 7 billion baht in the third quarter of last year; Sales increased by 62% year-on-year to THB 181.
5 billion
.
PTTGC said that the decline in petrochemical prices and the narrowing of gross profit led to a decline
in profit for the current period.

For each sub-business, PTTGC said that in the upstream business, the oil price difference between paraxylene and pure benzene condensate decreased due to the decline in polyester demand, and the aromatics performance decreased
quarter-on-quarter.
Olefins results also declined quarter-over-quarter as ethylene prices declined
due to weaker downstream markets.
Total sales of intermediates were 709,000 tons, down 8%
quarter-on-quarter.
The decline in the phenol, ethylene glycol and purified terephthalic acid (PTA) markets has weakened downstream demand
due to global recession and inflation concerns.
In the Polymers & Chemicals business, lower demand for polymers resulted in lower
sequential results.

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