Coronavirus (COVID-19) has occurred in Samut-Sakhon and Rayong provinces, and this has subsequently spread widely to many other provinces. Samut-Sakhon and Rayong have now been declared maximum control areas
pandemic has an immense impact on all of us. For the past year, governments across the globe have been fighting against the pandemic and eventually managed to contain the spread of the virus and more
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
crude run to a high level, although the Hydrogen Production Unit and Hydrocracking Unit underwent temporarily shut down between May and June. For this quarter, the gross refinery margin was 6.38 USD/BBL
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
returns by taking on more market risk deliver less risk- adjusted returns on average. This result echoes the stock-level finding by Saengchote (2017) that Thai stocks with high betas tend to have low alphas
COVID-19. Gasoline and Dubai crack spread (UNL95/DB) declined by 5.00 $/BBL, compared to the average of 7.57 $/BBL in Q2/2019, this is due to pressure from the level of Gasoline stock soaring upward in
and Trading Business Group recorded an average production rate of 109.35 KBD, a level adjacent to plan, Market GRM improved from the previous quarter, while Total GRM declined, primarily due to the
from the same period of the previous year, due to domestic ethanol stock remaining at a high level. However, due to increased sales volumes, sale revenue for the quarter was increased by 20%, YoY. 4
Gross Refinery Margin. Meanwhile, demand for High Sulphur Fuel Oil is still present amongst ship fleets that have installed scrubbers. Fuel Oil and Dubai crack spread (FO/DB) declined by 7.84 $/BBL