SPRC GRM Declines to 3.07USD/bbl in 1Q19, Net Profit Plunges 34% to ฿1.69bn.

Star Petroleum Refining Public Company Limited (SPRC) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

SPRC announced a net income at THB 1,690 million in 1Q19, plunged 34.30% YoY. Sale revenue in 1Q19 decreased THB 2,060 million from prior year quarter mainly due to lower sales volume reflecting from lower throughput. SPRC market refining margin in 1Q19 was low at US$3.07/bbl which negatively impacted from ongoing oversupply of refinery product in the market.