Turkey - Petrochemicals - PETKM: Ethylene - Naphtha Prices
• Ethylene-Naphtha spread decreased by 14% WoW to USD475.2/ton on October 8st, mainly due to 4% increase in naphtha prices and %4 decrease in ethylene prices.• In 3Q21, the spread averaged at USD545.3/ton. vs USD646.2/ton in 2Q21 and USD320.9/ton in 3Q20. Looking at the operational outlook, an improvement was observed in August and September, after a weak July. Accordingly, there may be an annual growth in 3Q21, but stronger results may not be seen compared to the previous quarter.
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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