Chevron pressing for major role in Thai petrochem sector

Chevron Chemical Co. is making a major push into Thailand's petrochemical sector, which it intends to use as the base of its Southeast Asia petrochemical operations. Chevron soon will sign a memorandum of understanding to acquire big stakes in a paraxylene project and an aromatics complex in Thailand. The first deal involves a 30% interest in the $231 million paraxylene plant being built by Thai Paraxylene Co. (TPC), currently owned 62% by refiner Thai Oil Co. (TOC) and 38% by Mitsubishi Oil Co. The other calls for Chevron acquiring up to a 22% interest in Aromatics (Thailand) Co. plc's (ATC) $700 million aromatics plant in Rayong. State-owned Petroleum Authority of ...

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