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
2561 FY 2562 Operating GRM Oil Hedging Inventory Gain/(Loss) Crude run (KBD) Note: 1/ Inventory Gain/(Loss) in the table included LCM 1/ (TAM) 14 Management Discussion and Analysis of Business Operation
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
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
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
run from the previous quarter, combined with increase in crude oil cost, as Dated Brent/Dubai spread in the previous quarter was 1.65 $/BBL while Q2/ 2017 the spread was -0.04 $/BBL, resulting in a
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
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
production rate, its average crude run was at 112.67 thousand barrels per day. Furthermore, from the tumultuous disposition of crude oil price in the global market during the quarter, Dubai crude oil price
1,386 million, or earning per shares of THB 1.01. The company and its subsidiaries performance improved, especially the Refinery Business Group which still maintains its average crude run at a high level