to an inventory gain of THB 856 million. However, there was a loss from crude and product oil price hedging contract at THB 75 million. Furthermore, the refinery planned to manage the stocks of
from narrower DTD/DB spread. Within this quarter there was an inventory gain of THB 241 million from the increase in crude price, but there was a loss from the crude and product oil price hedging
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
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
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
Rule”). Currently, the Company focus on the business expansion of the crude palm oil (CPOA) trading business for biodiesel as there is a high potential growth and will partially conducting a trading CPOA
39.00 million Baht or 1,270%. Although the Company will continue to manage controlling of inventories turnover to be less than 45 days. The Crude Palm Oil (“CPO”) price was fluctuated in the 1st quarter
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
spread between finished product and crude oil in every product category, and from the higher average crude oil price; resulting in an Inventory Gain of THB 834 million, exceeding 2016’s. Moreover, there