SET-listed IRPC, a petrochemical arm of national oil and gas conglomerate PTT Group, expects the Russia-Ukraine conflict to drive up prices of naphtha, a feedstock for the petrochemical industry, following soaring global crude oil prices.
However, the rise in naphtha prices will last for only a short period, said Chawalit Tippawanich, president and chief executive of IRPC, who added that he believes the price increase mainly resulted from "panic" after the conflict escalated into a war.
