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

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

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

Rule”). Currently, the Company focus on the business expansion of the crude palm oil (CPOA) trading business for biodiesel as there is a high potential growth and will partially conducting a trading CPOA

39.00 million Baht or 1,270%. Although the Company will continue to manage controlling of inventories turnover to be less than 45 days. The Crude Palm Oil (“CPO”) price was fluctuated in the 1st quarter

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

their allies unable to come to terms on oil production cuts. This further exemplified pressure on the price of crude in the global market to make a severe reduction late in the quarter. Average price of

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

. The price of crude palm oil in between the 2nd quarter and the 3rd quarter of 2018 were continuously decreased in the range of THB 23.00 – THB 19.00 difference THB 4.00 /KG which is larger in variance

the largest crude oil producer amongst the OPEC members. Dubai crude price in Q3/2019 compared to Q3/2018 declined by 12.96 $/BBL due to pressures from concerns over the global economic recession that