IRPC returns to profit amid oil price hike
11 FEB 2022
IRPC Plc, a petrochemical arm of national oil and gas conglomerate PTT Plc, saw its business rebound from a loss of 6.15 billion baht in 2020 to net profit of 14.5 billion baht last year, thanks to the global oil price surge.
Yesterday IRPC announced its total revenue in 2021 soared by 54% to 235 billion baht, driven by higher prices of refined oil and petrochemical products.
20 January 2022
Toyo Engineering Corporation (TOYO) and SCG Chemicals have entered into a Memorandum of Understanding (MoU) to jointly improve the process for turning mixed post-consumer plastics into recycled feedstock for petrochemical businesses in Thailand. This process is owned by Circular Plas (CirPlas), of which SCG Chemicals hold a 60% stake.
9 January 2022
PTT Global Chemical Plc (GC), Thailand's largest petrochemical producer, together with Samsung Engineering Consortium (SEC), held the ‘C3 Splitter Anointing Ceremony’ for the Olefins 2 Modification Project (OMP). SEC consists of Samsung Engineering Co., LTD., one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies and Samsung Engineering Thailand Co., LTD. The C3 Splitter is a major equipment for OMP and the highest distillation tower reaching more than 100 meters. The contract signing ceremony for the whole project was held on 10 February 2021.
December 8, 2021
Wood has further strengthened its relationship with IRPC by securing a new contract to work on the Ultra Clean Fuel Project on the IRPC Industrial Estate in the Rayong Province of Thailand.
The two-and-a-half-year agreement will see Wood’s team in Thailand deliver project management for a Diesel Hydro Treating Unit and Hydrogen Manufacturing Unit.
The Ultra Clean Fuel Project has been developed in line with the Thai government’s policy to implement Euro V standards by January 2024. The new project seeks to improve refinery efficiency, raise diesel quality to Euro V standard, and reduce fine particle pollution in the air (PM 2.5).
November 5, 2021
Thailand's largest petrochemical producer PTT Global Chemical (PTTGC) is planning to invest up to $25bn to achieve net-zero greenhouse gas (GHG) emissions by 2050.
PTTGC expects its peak GHG production to reach 9mn t in 2025, without giving details of current levels. The company is spending $1.3bn to improve efficiency in order to reduce emissions by 20pc by 2030 and gradually towards net-zero by 2050, said Kongrapan Intarajang, chief executive officer of PTTGC, in an interview with Argus.
Steps to be taken include adopting cleaner fuels in the future such as hydrogen, utilising digitalisation to reduce feedstock consumption and investing in new technology.