from late 2018; particularly, the Gasoline-Dubai crack spread (UNL/DB), Jet (Kerosene)-Dubai crack spread (IK/DB), and the Gasoil-Dubai crack spread (GO/DB), causing the refinery business’s market gross
quarter of 2017 from the concrete product business , food products and gasoline business. 3.3 During the second quarter of 2018, the Company received the payment from trade receivables at the amount of Baht
reduced Market GRM, following the decline in refinery production volume due to the TAM, as well as a decrease in average Gasoline/Dubai crack spread and Fuel oil/Dubai crack spread, and the rise in crude
declining, mostly from the gasoline product which is a result of travel limitation policy during the COVID-19 outbreak. The Marketing Business recorded improvements in performance of 797% QoQ and 15% YoY, due
15.74 -1.80 13.73 15.38 -1.65 GO/DB 17.71 11.64 14.32 15.34 -1.02 14.98 -0.67 13.72 14.68 -0.96 FO/DB -5.82 -29.19 -18.59 1.11 -19.70 1.33 -19.92 -4.91 -2.64 -2.28 Crack Spreads Analysis Gasoline and
6.90 11.00 14.32 -3.32 12.75 -1.75 FO/DB 2.36 (16.57) (7.30) (18.59) 11.29 0.54 -7.84 Crack Spreads Analysis Gasoline and Dubai crack spread (UNL95/DB) in Q1/2020 averaged at 6.54 $/BBL, a decline of
China. Gasoline-Dubai crack spread (UNL95/DB), Jet (Kerosene)-Dubai crack spread (IK/DB), and Gasoline-Dubai crack spread (GO/DB) were especially affected. This turn of events have led the refinery
synergy benefit of ~20 $M with cost optimizations. Integrated EO profitability were impacted due to poor oilfield demand and slowdown in construction sector though margins remain intact. Poor Gasoline
16.68 13.75 15.34 12.37 2.97 14.34 1.00 13.52 14.57 -1.06 FO/DB 14.68 -8.81 1.11 -2.34 3.45 -2.48 3.59 -0.21 -3.96 3.75 Crack Spreads Analysis Gasoline and Dubai crack spread (UNL95/DB) in Q3/2019
started producing more gasoline products. When compared to Q1/2017, Mogas/Dubai crack spread (UNL95/DB) decreased by 0.53 USD/BBL. In Q2/2017 the crack spread faced pressure from excess supply; especially