remains high, and gross refinery margin improved from the increase of crack spread for all products, along with a record of inventory gain from rising average crude oil price during the quarter. Marketing
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
travel and air freights. Jet (Kerosene) and Dubai crack spread ( IK/DB) declined by 4.49 $/BBL compared to the 12.95 $/BBL averaged in Q1/2019. This is due to pressure from mounting supplies as
demand for kerosene used in heating, as well as, increase in demand for air travel during the winter and Chinese New Year. Gas oil/Dubai Q1/2018 crack spread averaged at 14.76 $/BBL, an increase of 2.93
1.35 $/BBL compared to Q3/ 2 0 1 7 due to pressures from demand in the tourism travel sector during the summer, therefore increasing the amount of air travel. Jet (Kerosene) / Dubai crack spread
. Jet (Kerosene) / Dubai crack spread (IK/DB) in 2018 averaged at 15.38 $/BBL, an increase of 3.25 $/BBL compared to 2017’s average. A result of pressure from increase in demand for air travel. However
spread (DTD/DB), and the improvement of Fuel Oil / Dubai (FO/DB) crack spread. However, due to the crude price drop in this quarter, there was an inventory loss of THB 1,010 million, leading to an EBITDA
first half of 2020 was affected by the COVID-19 outbreak that wreaked wide spread havoc upon economies around the world. Moreover, the border closure policies, and travel limitations to control the spread
proficiency and high experience. - Opinion of the Board of Directors and Audit Committee which is different -None – B. Purchasing Air Conditioner 1. Transaction Date : February - March 2020 2. Connected Parties