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Sales situation offsets Tasco's project gains


Sales situation offsets Tasco s project gains
Sanctions take a toll on firm s oil imports
published :
5 Mar 2021 at 04:00
Tipco Asphalt (Tasco), Thailand s biggest asphalt producer, expects sales in 2021 to drop by 28% to 1.25 million tonnes from 1.75 million last year as a result of a need to adjust its sales channel, despite more infrastructure projects.
The change results from trade sanctions imposed by the US on Venezuela, restricting its export of heavy crude oil, a raw material for asphalt manufacture.
The trade restriction was made during Donald Trump s administration on Venezuela, following political problems in the South American country.
Tasco s crude oil inventory can last until the middle of this year. The firm needs to start finding new suppliers in other countries in South America and Asia, said Chaiwat Srivalwat, Tasco managing director. ....

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