AIA INVESTMENT MANAGEMENT (THAILAND) LIMITED| | Offering Date : 25/03/2022 - 05/04/2022
finished oil product orders decreased, combined with unit price also revising downward. Aside from this, Trade Accounts Payable of Bangchak Biofuel Co., Ltd. increased by THB 139 million, due to the higher
finished product during the TAM, resulting in the better gross refinery margin in this quarter. For BCP Trading Pte. Ltd., revenue rose from the higher oil products trading transaction volume. Marketing
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
year mainly due production disruptions during 1st Quarter 2019 combined with the negative HRC cash margin for second half of 2019 resulting from large decrease in HRC selling price compared to last year
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
million, primarily attributed to the company, from the low season in September, reducing the finished oil products sales volume, combined with average selling price of petroleum products decreased. However
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