BCP 26.50 THB +0.25 (0.95%)

Q1/2019:

  • Average crude run rate of 110.12 KBD (92% utilization rate)
  • Total GRM decreased 45% YoY
    Crude run and GRM affected by the reduced Market GRM, due to most finished product and reference crude price crack spreads adjusted downward from the supply surplus, and the maintenance of equipment in the hydrocracking unit. As a result, the production was reduced to the optimal level

Refinery Crude Run

Unit : KBD

Q1/2019 THB Million $/BBL
Market GRM 1,080 3.43
GRM Hedging 29 0.09
Inventory Gain (Loss) (9) (0.03)
Total GRM 1,100 3.49

GRM Performance

Unit : $/BBL

Q1/2019:

  • The company’s retail sales market share was at the second rank, and continues to consistently thrive with the cumulative market share of Q1/2019 at 15.6%.
  • Total marketing sales volume marginally increased YoY, mainly rose from the retail market following the company’s retail customer base expansion strategy, and promotions of new and premium products. On the other hand, industrial market sales volume soften from the higher market competition and the sales channel management during refinery maintenance.
  • Net Marketing Margin was 0.71 Baht/litre.

Marketing Sales Volume

Unit : Million Litre

Total Marketing Margin

Unit : Baht/Litre

Market Share (Retail Channel)

BCP 15.6%

BCPG Q1/2019:

  • Revenue remained stable YoY and QoQ.
  • The solar power plant projects in Thailand recorded total electricity sales +9% YoY, mostly from War Veteran Organization Project commercial operation in July 2018 (PPA 8.94 MW), and higher average irradiation.
  • Solar power plant in Japan recorded total electricity sales -55% YoY, due to the sales of Nikaho and the Nagi project (Total PPA 19.3 MW) to the Infrastructure Fund of Japan during Septermber 2018.
  • Realised share of profit from the wind power plant in the Philippines in the amount of THB 29 million.
  • Realised share of profit from the geothermal power plant in Indonesia in the amount of THB 93 million.

Total Electricity Sale

Unit : Million kWh

Q1/2019: Biodiesel business

  • Sales volume of B100 product soften 2% YoY, as the aggregate B100 production capacity inncreased, resulting in the higher market competition.
  • Average selling price for B100 product decreased 15% YoY, following the direction of diminishing crude palm oil price. Because there was the high level of excess supplies both domestically and abroad.

Q1/2019: Ethanol Business

  • Sales volume increased, as in 2018, as the ethanol plant in Bo-Ploy district, Karnchanaburi Province’s production capacity increased by 100 K.Litres/day
  • Average ethanol product price declined, due to high domestic ethanol stock, and a rise of the ethanol production capacity domestically.

Biodiesel business: Production and Sales Volume

Unit : Million Litre

Ethanol business: Production and Sales Volume

Unit : Million Litre

Q1/2019 :

  • Share of profit from its associate company (OKEA AS) of THB 8 million
  • Production volume of Draugen and Gjoa oil field was 8.6 and 10.5 thousand barrels per day net to OKEA
  • In this quarter, impairment loss on technical goodwill has been recognized for Gjøa oil field acquisition following the lower gas prices.
  • There was no sales revenue recorded from Galoc oil field, after the Company divested its position in Nido Production (Galoc) Pty. Ltd.

Average Production (Net to OKEA)

Unit : KBD