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
subsidiaries’ performance by Business unit 1.) Refinery and Trading Business Group Crude Oil Price Situation (Unit : USD/BBL) Crude Oil Price Q1/2017 Q4/2017 Q1/2018 YoY QoQ AVG AVG MAX MIN AVG % % Dubai (DB
by 58% from last year. Also, Gasoline / Dubai spread (UNL95/DB) dropped drastically during the end of the year. Total GRM was 5.61 $/BBL. And the significant decline in crude oil price during November
. Gross refinery margin was 6.66 USD/BBL (+1.04 USD/BBL YoY, +0.28 USD/BBL QoQ), GRM was higher from the increase in crack spread of most finished oil products, while Dated Brent and Dubai crude spread (DTD
: USD/BBL) Crude Oil Price Q2/2016 Q1/2017 Q2/2017 YoY QoQ 6M2016 6M2017 YoY AVG AVG MAX MIN AVG % % % Dubai (DB) 43.23 53.03 54.65 43.50 49.68 15% -6% 37.06 51.38 39% Dated Brent (DTD) 45.59 53.69 54.98
Group Crude Oil Price Situation (Unit : USD/BBL) Crude Oil Price Q2/2017 Q1/2018 Q2/2018 YoY QoQ 6M 6M YoY AVG AVG MAX MIN AVG % % 2017 2018 % Dubai (DB) 49.68 63.96 77.29 64.69 72.07 45% 13% 51.38 68.01
2.87 $/BBL, the refining margin still remains on the low side due to the crack spread of finished product and reference crude oil price declining significantly. A result of severe drop in demand for fuel
’ performance by Business unit 1.) Refinery and Trading Business Group Crude Oil Price Situation (Unit : USD/BBL) Crude oil price Q3/2019 Q2/2019 QoQ Q3/2018 YoY 9M 9M YoY Max Min AVG AVG +/- AVG +/- 2019 2018
.) Refinery and Trading Business Group Crude Oil Price Situation (Unit: USD/BBL) Crude oil price Q1/2018 Q4/2018 Q1/2019 YoY QoQ AVG AVG MAX MIN AVG % % Dubai (DB) 63.96 68.30 68.25 51.85 63.41 -1% -7% Dated
the refinery business which recorded much higher production rate, and benefited from the narrower average DTD/DB spread, resulting in 8. 05 $/BBL of total GRM. Also from the higher average crude oil