. Production numbers decreased according to the Natural-Decline Production Curve. Compared to Q2/2017, the Exploration and Production business sales revenue decreased due to the decline in crude oil price

., Bangchak Bioethanol (Chachoengsao) Co., Ltd., KSL Green Innovation Plc.) and share of profit from Ubon Bioethanol Co., Ltd. 5/ EBITDA from Natural Resources business of Nido Petroleum Limited, BCP Energy

volatility of CPKO On qoq basis, demand for Natural FA in 4Q17 climbed up from 3Q17, mainly due to Synthetic FA prices remains high following an increase of crude oil prices ,and the supply shortage of Natural

1Q2020, overall palm oil production in both domestic and international market declined due to the significant impact of drought on agriculture. According to Department of Internal Trade, local crude palm

Analysis | 2 Executive Summary In 2Q2018, Domestic palm oil production has increased as well as in other countries, consequence to lower Crude Palm Oil (CPO) prices and Crude Palm Kernel Oil (CPKO) prices

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

investment. Since the crude oil prices gradually increased in line with the global economic recovery and OPEC continued its descending crude oil production. This affected the Company’s raw material prices

Ratios 19 P a g e | 3 - Management Discussion and Analysis 2Q2020 - Executive Summary In 2Q2020, crude palm oil (CPO) price was higher than 2Q2019 caused by the implementation of biodiesel B10 as the

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

19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environment Management Accounting Management Discussion and Analysis of Business Operation for Q3/2019