Thai petchems await China rebound
Diversified PTTGC is strong enough to wait for Chinese product demand but others may suffer
Better than expected Chinese industrial production in March raised hopes for a sharp recovery for downstream petrochemicals companies in the Asia Pacific region. But a Chinese recovery is far from assured and, if the Chinese economic recovery is sluggish, only the financially strongest product suppliers are likely to benefit. The Thai government made a strategic decision to develop its domestic petchem industries in response to the 1970s oil shocks. The result today is that larger players such as PTT Global Chemical (PTTGC), a subsidiary of Thai NOC PTT, and SCH Chemicals, a unit of Siam Cement, have diversification and a strong parent on their side. SCH has stated that its plan to invest in
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
