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

price in the quarter, inventory gain was recorded at THB 241 million ( Inventory Gain Q3/2017: THB 450 million, Q2/ 2018: THB 856 million) . However, Net marketing margin was effected by the sharp rise in

Business Operation for 2Q/2018 Bangchak Corporation Plc. I 7 from the increment in crude oil price and improving crack spread of some products. In this quarter, crude oil price adjusted upward sharply, which

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

a historic high rate of 123.5 KBD during this past September. Meanwhile, Operating GRM declined by 1.69 $/BBL from the previous year, which was affected by the crack spread of finished product and

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

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

the COVID-19 outbreak result of crude premium to adjust downward with significance. Despite the finished product and reference crude price crack spread for most products had been declining continuously

in world oil prices, resulting in a sharp drop in commodity prices this causes a lot of price competition. Yours Sincerely, Ms. Piyanan Suwannaphasri Assistant Managing Director Authorized to sign

fallen by THB 34.73 million, which has led 2nd quarter company’s net profit to fall to THB 0.69 million, a decrease of THB 16.05 million (96.2%). The main factors causing a sharp fall in underwriting