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
purpose of carrying on the business as manufacturer and supplier of various finished and semi-finished automotive stamping components in Indonesia. The New Company further received the acknowledgment dated
a historic high rate of 123.5 KBD during this past September. Meanwhile, Operating GRM declined by 1.69 $/BBL from the previous year, which was affected by the crack spread of finished product and
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
practices regularly monitored and reported. Projects under construction are on track Nam Che 1 Hydro Power Plant (Run of the river) with an installed capacity of 15 MW has 98.9% construction progress. The
. 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
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
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
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
affected by the decline in most of the finished product and crude oil crack spreads, as a result of the oversupply situation in finished oil products, and the anxieties over the trade war between the US and