Q1 2020 Thai Oil PCL Earnings Call Transcript
Good afternoon, everyone. Thank you for joining the Earnings Call for the First Quarter 2020 for Thai Oil. With us, we have Ms. Tarika, our VP Financial Planning; and myself; and the IR team; and we have [all the management team].
So for today's session, we'll briefly recap the financial results for about 15 to 20 minutes and then we open the session for Q&A.
Okay. So let me briefly talk about key highlights of the first quarter of Thai Oil in each business unit, starting with [Refinery] business unit. In terms of utilization rate in Q1, Refinery U-rate slightly dropped from Q4 but we still ran at high level at 111% from 113% in Q4 as we maintained product sale at high level. In terms of gross Refinery in stock loss market here in Q1, we reported a $0.1 loss per barrel, significantly lower Q-on-Q from $2.7 per barrel in Q4, well, that's because of the weakening product rate, especially, substantially falling gasoline debt -- diesel due to
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