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PTT Global Chemical
PTT Global Chemical (Thai: บริษัท พีทีที โกลบอล เคมิคอล จำกัด (มหาชน)), also known as PTTGC, is a petrochemical company that specializes in synthesizing olefins and aromatics. It was founded in 2011 and is a subsidiary of PTT Public Company Limited.[1] It was listed on the top 10 Dow Jones Sustainability Indices (DJSI) for two consecutive years and is ranked 19th on the ICIS Top 100 Chemical Companies listing.[2] PTTGC owns and operates production support facilities, such as jetty and buffer tank farm services for liquid chemical, oil and gas. Minor activities are production and distribution of electricity, water, steam and other utilities.[3] In 2014, PTTGC Netherlands, a subsidiary of PTTGC, acquired part of French oil company Vencorex, totaling their stake in the company to 85%. This acquisition was completed to improve the production of Toluene diisocyanate (TDI) and Hexamethylene diisocyanate, along with their derivatives. These chemicals are used as feed stock in manufacturing polyurethanes, commonly used in foams and coatings for the automobile and construction industries.[4] The company operates in 8 business areas: Group Performance Center – Refinery and Shared Facilities; Group Performance Center – Aromatics; Group Performance Center – Olefins; Polymers Business Unit; EO-Based Performance Business Unit; Green Chemicals Business Unit; Phenol Business Unit; Performance Materials & Chemical Business Unit.[5] Business Structure & ProductsPTTGC owns and operates a refinery equipped with hydrocracker and visbreaker units, capable of converting low-value fuel oil to more valuable middle-distillate products. Its average refining capacity stands at 145,000 barrels per day of crude and 135,000 barrels per day of condensate.[6]
PTTGC produces and distributes aromatics products, namely paraxylene, benzene, orthoxylene, mixed xylene, toluene, and cyclohexane. These products are used as feedstock in various industrial processes. Aside from these products, PTTGC's aromatics plants yield multiple by-products, including liquefied petroleum gas (LPG), light naphtha, heavy aromatics, and condensate residue. LPG and light naphtha are used as feedstock in their olefins plants, while heavy aromatics and condensate residue are used as feedstock in the refinery to produce jet fuel, diesel, and fuel oil.[7] Olefin products obtained from PTTGC's olefins plants mainly consist of ethylene and propylene. The olefin plants also yield various by-products, such as pyrolysis gasoline, mixed C4, tail gas, cracker bottom, and hydrogen.[8] Polymers are downstream petrochemicals primarily used as feedstock for everyday plastic products. They are commonly molded into multiple shapes and forms of plastic packaging. Polymers are also used as feedstock for other downstream industries.[9] Green chemicals are products manufactured from natural feedstocks such as palm oil, palm kernel oil, vegetable oil, animal fat, corn, sugar made from sugarcane, and cassava. These products can be used in various downstream industries, such as personal care, pharmaceuticals, food, biochemicals, and bioplastics industries.[10] Phenol is used as feedstock for the production of downstream products, such as engineering plastics. PTT Phenol Co.ltd is wholly owned by the PTT Global Chemical Co. ltd. or PTTGC since 2 May 2013.[11] Performance materials and chemicals are major components in downstream industries, such as the automotive, construction, and engineering plastic industries. In August 2006 PTT PLC became a shareholder of HMC Polymers and in 2017 transferred its share to its chemical flagship PTT Global Chemical Public Company Limited.[12] Major shareholdersUpdated 30 March 2020[13]
SustainabilityPTTGC have always pursued businesses with sustainability as commitment to balancing the economy, social and the environment, known as the Drive Sustainability Strategy. PTTGC have ranked in Chemical Sector by the Dow Jones Sustainability Indices (DJSI).[14] Moreover, PTTGC are the only Thai business as a member of United Nations Global Compact at the LEAD level.[15] In addition, PTTGC have won several awards on ESG (Environmental – Social – Governance) by many local and international investors and institutions, including SET Sustainability awards of Honor,[16] and Morgan Stanley Capital International.[17] References
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