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Q4 2020 Thai Oil PCL Earnings Call Transcript
Good morning, everyone. Welcome to Thaioil's Earning Call for Q4 2020 and Full Year 2020. I'd like to start by introducing the management from Thaioil's team. Today, we have Khun Wanida, our CFO; and Torsang, VP of Financial Planning; and all the IR team.
So for the format today, we'd like to start our presentation about 15 minutes and then open the session for Q&A.
Thank you. So for overall key highlight of the fourth quarter performance of Thaioil, let me start by the refinery business unit first. In terms of utilization rate in Q4, it increased to 101% from 93% in Q3 due to better COVID situation resulting in ease in lockdown, which are, in many areas, led to recovery in oil demand, especially in early to mid-Q4 before we had a second wave of COVID in Thailand during in December. However, in terms of full year, utilization rate was also 101%, lower than the year before by 6% due to optimization run in response to COVID-19 pandemic
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