from late 2018; particularly, the Gasoline-Dubai crack spread (UNL/DB), Jet (Kerosene)-Dubai crack spread (IK/DB), and the Gasoil-Dubai crack spread (GO/DB), causing the refinery business’s market gross
reduced Market GRM, following the decline in refinery production volume due to the TAM, as well as a decrease in average Gasoline/Dubai crack spread and Fuel oil/Dubai crack spread, and the rise in crude
stems from the quantity of Shale Oil, which has a Gasoline yield of 52. 2% , rising by 1. 2 million barrels per day leading to supplies of Gasoline to remain in a state of market excess compare to 2018
government sector introducing stimulus packages, which would cause demand for fuel consumption in the industrial and transport sector to increase. Moreover, the excess of crude oil supply trends to decrease
significantly from the state of excess supplies within the market and declining demand from the COVID-19 outbreak. The company realized loss from invested capital in associate company, OKEA due to the price of
started producing more gasoline products. When compared to Q1/2017, Mogas/Dubai crack spread (UNL95/DB) decreased by 0.53 USD/BBL. In Q2/2017 the crack spread faced pressure from excess supply; especially
China. Gasoline-Dubai crack spread (UNL95/DB), Jet (Kerosene)-Dubai crack spread (IK/DB), and Gasoline-Dubai crack spread (GO/DB) were especially affected. This turn of events have led the refinery
reverted to its excess position in the market, while supplies in the previous year were tight. As such, crude production from the US adjusted to peak capacity from the beginning of this year to the level of
(October – December 2018) and clarification of the operating result change excess 20%. Dear Sirs, We gladly inform to report our 2nd quarter performance figure during October – December 2018, ending December
the operating result change Excess 20% Dear Sirs, We would like to report financial operating result for financial year ended June 30, 2017 as followings: 1. Sales and Services revenue decreased to