). Total Gross Refinery Margin (Total GRM) rose 67% YoY and 26% QoQ, while Market GRM lowered from the decreasing production volume. Moreover, the average crude price adjusted upward in the quarter, leading
| 2 Executive Summary In 3Q/2019, overall palm oil production and crude palm oil (CPO) inventory remained high in both domestic and international market, thus crude palm oil (CPO) and crude palm kernel
of 0.96 THB. The company and its subsidiaries recorded total EBITDA of THB 3,580 million (+28% YoY, +42% QoQ), performance improved, especially for the Refinery Business, of which average crude run
It increase eason was i n. shareholde on baht and ear 2017. Th tion. r’s Operatin nd Exchang ason for rela us year. The red to Q2‐2 8 and Q2 ye venue from ompared w Also, the sell 2 year 2017 d
Roychowdhury 2006 Healy 1985 DeAngelo 1986 Jones 1991 Modified Jones 1991 Empirical Setting 8 Empirical Setting 9 Source from the International Federation of Red Cross Red Crescent Societies Measures
market, where the oil business is in on a downward trajectory following slowing global economy due to the trade war between the US and China. The Dubai crude price in 2019 averaged at 63.51 $/BBL, a
effect of the widened Crude premium over Dubai, as well as the lowered oil product spread over crude oil price. There was an Inventory Loss of THB 70 million, and GRM hedging loss. Marketing Business Group
https://www.sec.or.th/TH/Documents/ActandRoyalEnactment/Act/translate-trustact.doc DRAFT , crude oil, or any other property as specified in the notification of the SEC with the approval of the Cabinet