Star Petroleum Refining Public Company Limited or SPRC Operating results for the period ended 31 December 2020 are as follows:
The 2020 operating results increased losses due to a sharp drop in oil prices since the first quarter of the year, which led to negative EBITDA and a net loss in 2020. The year 2020 was negative, which was affected by lower oil prices and resulted in significant oil stock losses in 2020, while there was a slight oil stock gain in 2019. Import distillation in 2020 It rose to 143 thousand bpd from 134 thousand bpd in 2019, or a 7 percent increase, but total income fell 23 percent as a result of the lower average selling prices.
Moreover, the accounting GRM and the market GRM in 2020 decreased from the previous year. The gross profit margin was negative (1.04) US $ per barrel in 2020, but was positive at 4.12 USD per barrel in 2019, excluding stock gain (loss). The market holding value is still down from 3.39. The US dollar per barrel in 2019 was $ 2.79 per barrel by 2020, in line with lower oil demand. Due to the outbreak of COVID-19
However, with various situations arising, the Company continues to emphasize the incidence of injury and infection (incident, injury and infection free) and increase the ability to manage cash flow through Manage inventories, reduce operating costs, reduce investment costs and improve production efficiency. Along with giving importance to the reliability of the oil refinery
At the same time, the company also announcedNo dividend payment Operating period from 1 Jan 2020 to 31 Dec 2020
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