Rayong, May 10 – IRPC expects a clear recovery in the 3rd quarter of 2023, the domestic oil and petrochemical market. believe the new government will use the budget go ahead with big projects stimulate the economy

Mr. Krit Imsang, Chief Executive Officer and President of IRPC Public Company Limited or IRPC revealed that oil and petrochemical market trends It is expected to recover clearly from the third quarter of 2023 onwards, which will see positive signs from the second quarter of 2023 when demand for petrochemical products has increased. but still low This is because most manufacturers have high stocks. While demand in the region is still low due to the global economic slowdown, therefore, this year the company will mainly focus on cost reduction.

while expecting after the election And with the new government between August and September, the 2023 budget will be used to move forward with more big projects, which will play an important role in stimulating the domestic economy. This will also boost the demand for fuel and petrochemical products. This will have a positive effect on the business of the group of companies as well.

However, during July 2023, the company prepares an investment plan for 2024, both in terms of refining capacity that may increase. compared to this year The refinery averaged 195,000 barrels per day. compared to the maximum refining capacity of 215,000 barrels per day. along with adjusting the amount of investment next year From this year, prepare at about 1 billion baht. – Thai News Agency

Source: Thai News Agency