Turkey - Petrochemicals - PETKM: Ethylene - Naphtha Prices
• Ethylene-Naphtha spread decreased by 6.5% WoW to USD481.0/ton on May 27th, due to the increase in the naphtha prices (2.9%).• The spread realized at USD538 in April-May period in average, down by 17% yoy, but up by 7% qoq. While the decrease in the spread is not a direct indicator for the final product margins, it can be seen as a negative signal for the profitability together with the downtrend of the Platts global petrochemical index.
Turkiye Petrol Rafinerileri is an energy and refining company based in Turkey. Co. is engaged in providing and refining crude oil, the importing and exporting of oil products, and establishing and operating refineries in Turkey and foreign countries. Also, Co. is establishing and operating factories and facilities in the petrochemical industry. Co. is engaged in purchasing, selling, importing, exporting, storing, marketing and distributing (wholesale, retail, foreign and domestic) all kinds of petroleum products, LPG and natural gas. Co. runs its business through the refineries in Izmit, Izmir, Kirikkale and Batman.
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