Thai refiner IRPC saw profit from its base oils and bitumen unit rise in the second quarter from year-earlier levels but fall from the first three months of the year.The base oils unit’s gross profit of 1.26bn Thai Baht ($36mn) in the three months to end-June more than tripled from year-earlier levels even as sales fell by 4pc.The premium of Asia Group I base oils prices surged relative to diesel prices in the second quarter of the year. The high premium contrasted with a discount to diesel prices during the second quarter of 2022.The unit's revenue fell in the second quarter even as base oils production rose by 14pc. The trend reflected lower regional base oils prices compared with year-earlier levels.The unit’s sales accounted for 12pc of IRPC’s total sales.Its profit accounted for almost half of IRPC’s total gross profit..Thailand IRPC’s June base oils output rises
