referenced crude oil price of every products; stemming from a state of excess supplies of finished products in the market, and declining demand from the 4 Management Discussion and Analysis of Business

PowerPoint Presentation Management Discussion and Analysis 3rd Quarter of 2020 Q3/2020 Q3/2020 and Recent Highlights In the third quarter of 2020, economic factors that affected company's results of operations include (i) natural gas price and coal price that continued to drop further from previous quarter resulting in lower costs of sales and increasing industrial customers sales margin in spite of the slightly decrease of the fuel adjustment charge (Ft) for the collection of September - Decemb...

built from the situation in the Middle East, predominantly with the attacks of 2 refineries owned by Saudi Aramco, Saudi Arabia’s national oil company. The attack was carried out by drones on the 14th