, resulting from the pressure of excess supply of Light Sweet crude in the market; after production of US Shale oil increased. Compared to the previous quarter, the difference between average Dated Brent and

oversupply situation of light sweet crude, whereas supplies were tight during the previous year. Average DTD/DB in Q1/2019 reduced 0.79 $/BBL in comparison to Q4/2018, caused by lower supply of heavy crude oil

Sweet Crude lowering the production and export. While Shale Oil export from the U.S. declined in September due to Hurricane Harvey which resulted in various ports ceasing operation. Summary of the Company

imports from Russia through the Druzhba pipeline, capable of transferring 1 million barrels of oil per day, due to contamination to the crude oil. Thus, necessitating the purchase of light sweet crude as

| 2 Executive Summary In 2019, overall palm oil production and crude palm oil ( CPO) inventory remained high in both domestic and international market, although the inventory plunged to a minimum record

Limited Global Green Chemicals Public Company Limited Management Discussion and Analysis | 2 Executive Summary In 1Q2019, palm oil production and crude palm oil (CPO) inventory have remained high in both

Limited Global Green Chemicals Public Company Limited Management Discussion and Analysis | 2 Executive Summary In 2Q/2019, overall palm oil production and crude palm oil (CPO) inventory have remained high

| 2 Executive Summary In 3Q/2019, overall palm oil production and crude palm oil (CPO) inventory remained high in both domestic and international market, thus crude palm oil (CPO) and crude palm kernel

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

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