satisfactory economic growth, many key nations such as Japan and China recorded a slowdown. The Eurozone was fragile while Russia faced economic problems and currency volatility from sharply declining crude oil
20T H ANNIVERSARY 1 Securities and Exchange Commission, Thailand Annual Report 2012 SEC ANNUAL REPORT 20122 THE YEAR OF CHANGE The year 2012 was the time for change to become the visionary partner whose balance between proactive and preventive approaches has led to stakeholders’ confidence in the Thai capital market. THE YEAR OF CHANGE 20T H ANNIVERSARY 1 02 MESSAGE FROM THE CHAiRMAN 04 MESSAGE FROM THE SECRETARY-GENERAl 06 SEC BOARd 09 CApiTAl MARkET SupERviSORY BOARd 12 ExECuTivE OFFiCERS 13 O...
oil price throughout the quarter, leading to an inventory loss. However, despite the refinery Hydrogen Production Unit and Hydrocracking Unit temporary shut down, refinery’s average crude run remained
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
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
every finished product and crude oil price crack spreads, with supporting factors ranging from the maintenance of various refineries in North Asia, as well as concerns over supplies tightening after the
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
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
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