still affected by the oil price volatility in the global market. Despite the crude oil price recovery, the average crack spread between finished product and referenced crude oil price continues to decline
and its subsidiaries recorded total EBITDA of THB 2,514 million (-38% YoY, -38% QoQ), the performance softened, especially for Refinery Business, which was affected by the continuously lowering crude
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 0.96 THB. The company and its subsidiaries recorded total EBITDA of THB 3,580 million (+28% YoY, +42% QoQ), performance improved, especially for the Refinery Business, of which average crude run
4th quarter in any year would see large amounts of expenses disbursed. 5. Losses from crude and finished product hedging contract of THB 73 million due to oil price fluctuations in this quarter. 6. Gain
, due to the massive decline of Gasoline/Dubai (UNL95/DB) crack spread in this quarter. Hence, running the refinery at high utilization rate would not be economically sound, thus crude run was optimized
year mainly due production disruptions during 1st Quarter 2019 combined with the negative HRC cash margin for second half of 2019 resulting from large decrease in HRC selling price compared to last year
extremely high volatility which included triggering the SET circuit-breaker 3 times. Each large movement also triggered a massive change in the Delta hedge position within a very short period of time. These
, the Company’s customers had developed alternative sources of supplies of HRC and also imported large volumes of HRC. The import arrivals continued during the reported Quarter and impacted the sales
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