Thai refiner IRPC saw profit from its base oils unit surge in the first three months of the year to the second-highest level in more than eight years.The base oil unit’s gross profit of 2.04bn Thai Baht ($60.43mn) in the first quarter rose from Bt813mn during the previous three months and from Bt114mn during the first quarter of 2022.Profit rose amid relatively steady Asia Group I base oils prices in the first quarter of the year.The unit's sales volume also rebounded following the restart of base oils production late last year after a prolonged plant shutdown.The base oils unit operated at 94pc of capacity in the first quarter of the year, up from 54pc during the previous three months.Steady prices and rising sales volumes boosted first-quarter revenue to the second-highest level since at least 2015..Thailand’s March base oils output rises
Thai refiner IRPC saw profit from its base oils unit surge in the first three months of the year to the second-highest level in more than eight years.The base oil unit’s gross profit of 2.04bn Thai Baht ($60.43mn) in the first quarter rose from Bt813mn during the previous three months and from Bt114mn during the first quarter of 2022.Profit rose amid relatively steady Asia Group I base oils prices in the first quarter of the year.The unit's sales volume also rebounded following the restart of base oils production late last year after a prolonged plant shutdown.The base oils unit operated at 94pc of capacity in the first quarter of the year, up from 54pc during the previous three months.Steady prices and rising sales volumes boosted first-quarter revenue to the second-highest level since at least 2015..Thailand’s March base oils output rises
