high, resulting to the soften Crude Palm Oil (CPO) and Crude Palm Kernel Oil (CPKO) price than that of 3Q2017. Under these circumstances, the government has maintained B7 mandate in this quarter. Besides
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
speculate that this new round of sanctions will reduce crude oil volume by 600,000 – 1,500,000 barrels per day; from the record high figures of crude oil exported by Iran in April 2018 at 3. 09 million
. In 2019, we expect raw material supply and price to normalize from the existing high levels due to weaker crude oil environment and ample paraxylene and MEG supply additions. IVL is well positioned
increase. Difference between Dated Brent and Dubai price in Q2/2018, on average decreased by 0.54 $/BBL when compared to Q1/2018 was due to high pressure from Dubai crude demand increasing during the Middle
IVL as a whole in 2019. o Sharp decline in crude prices (high of $ 83/bbl in 3Q18 versus low of 54/bbl in 4Q18) as we entered in to the weak season led to accelerated destocking in the integrated PET
adversely impacted in 1Q19, but are showing improvement in 2Q19 due to: - High PX prices despite volatility in crude oil prices. This has since changed substantially as new PX capacities comes on stream and
adversely impacted in 1Q19, but are showing improvement in 2Q19 due to: - High PX prices despite volatility in crude oil prices. This has since changed substantially as new PX capacities comes on stream and
proportion of high value products than the previous quarter. However, inventory loss, including LCM, was higher than in Q1/2019 from the volatile global crude oil price during the quarter. 3. Other incomes
crude which provided high yield of Jet fuel and Diesel was left in a state of oversupply. 12 Management Discussion and Analysis of Business Operation for Q1/2020 Bangchak Corporation Plc. | Crack Spreads