accepted accounting principles. The company did not arrange the assessment of value and quantity of small-sized gas cylinders and record allowances for impairment in accordance with generally accepted

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

of natural gas corresponding to the crude oil price in the world market, the new accounting standard (Thai Financial Reporting Standard) regarding the financial instruments (TFRS 9) and the lease

due to the increase of natural gas cost by Baht 544 million following the rise in average price of natural gas which in line with the upward trend of crude oil price, whereas there was no significant

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

1,386 million, or earning per shares of THB 1.01. The company and its subsidiaries performance improved, especially the Refinery Business Group which still maintains its average crude run at a high level

affected by the year round global oil price fluctuation, especially in the last quarter which oil price plunged drastically. Moreover, the refinery recorded lower crude run due to its 45 days turnaround

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

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

segment of IVL was adversely impacted due to steeply lower crude oil price impacting margins of MTBE & Int. EG as shale gas lost its advantage against naphtha based producers. • Mobility & Lifestyle Fibers