As the increasing popularity of alternative fuels has weakened projections of its refinery, Thailand’s IRPC Plc has decided to focus solely on the petrochemical business. The refinery performance has been waning on account of several factors including the recent demand deterioration due to the global economic slowdown, entry of larger players and increasing adoption of alternative fuels to replace conventional fuels, estimated to reach 20%.
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Friday, August 28, 2009
Thai IRPC to shift absolute focus on petrochemical business
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