IHS Chemical Week

Petronas Chemicals reports lower sales

10:58 AM MST | November 8, 2013

Petronas Chemicals Group (PCG; Kuala Lumpur) reports lower sales and profits in the third quarter citing lower production and sales as a result of plant maintenance. Net profits and revenues were each 10% lower at 712 million Malaysian ringgit ($224.1 million) and MR3.5 billion, respectively. Maintenance at PCG's main cracker affected downstream facilities and led to reduced production and sales volumes. PCG forecasts demand for olefins & derivatives to continue to outstrip supply, driven by economic growth in key markets of Asia/Pacific, albeit at a slower...

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