. Gross refinery margin was 6.66 USD/BBL (+1.04 USD/BBL YoY, +0.28 USD/BBL QoQ), GRM was higher from the increase in crack spread of most finished oil products, while Dated Brent and Dubai crude spread (DTD
Company have neither ability to manage finished goods (HRC) nor trade negotiation. Due to the Company had no choice but necessary to sell them just for generating income circulating used in the business
business; due to finished product price increase that coincide with the rise of global crude oil price, and total sales volume increased by 5%. Also, the company received higher revenue from the power plant
price of crude and finished product to make its downward trend. With demand for fuel consumption declining across the globe, combined with the Organization of Petroleum Exporting Countries [ OPEC] and
intensified competition, and the refinery’s TAM which resulted in the lower volume of finished oil produced. On the other hand, retail market which is the company’s main distribution channel recorded sales
person or group of persons holds investment units in the amount exceeding the said limit, asset management company will be prohibited from distributing dividend and counting vote in the excess portion. The
still affected by the oil price volatility in the global market. Despite the crude oil price recovery, the average crack spread between finished product and referenced crude oil price continues to decline
of the virus has caused demand for consumption of fuel around the world to decline with significance. This factor is putting pressure on the price of crude and finished product to drop significantly
product and crude oil crack spreads, due to excess supply situation of the finished oil products, and anxieties towards the trade war between the US and China. With the average UNL95/DB cracks spread
(October – December 2018) and clarification of the operating result change excess 20%. Dear Sirs, We gladly inform to report our 2nd quarter performance figure during October – December 2018, ending December