Deposits
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Updated the key Industry Indicator: Liquefied Petroleum Gas in each industry.By Aphinya Khanunthong
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In 2026, Thailand’s petroleum refinery business should benefit from the sharp increase in global crude oil prices during the first half of the year, which significantly supported the average gross refining margin (GRM).
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Thai oil refining sector is expected to see continuing growth over the next three years domestic
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Recent news reports suggest COVID-19 may be transitioning from a regional public health crisis to a global pandemic
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Refineries can look forward to an improving business environment over 2024 to 2026. Domestic demand for refinery products will be boosted by an uptick in economic activity, particularly in e-commerce sales and the tourism sector. The industry will also benefit from increasing connectivity in trade and investment across the ASEAN region
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Middle East tensions show no signs of easing, posing risks to global and Thai economies. China prioritizes quality-driven growth.
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Houthi escalation in the Red Sea intensifies the war, while Thailand’s exports are set to slow amid Middle East tensions.
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The oil refining industry is expected to continue growing in 2025-2027, supported by the increasing domestic demand for refined oil, which is projected to grow by an average of 2.0-2.5% annually. This growth is driven by the gradual recovery of economic activities,
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For 2027–2028, feedstock cost pressures are expected to ease somewhat as naphtha prices decline. Meanwhile, a gradual recovery in the global economy and demand from downstream industries should support improvements in the prices and spreads of several petrochemical products. However, spread recovery will remain constrained
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Impact of Trade War 2.0 on Thailand’s Industrial and Service Sectors Round One
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