ESSO Reports a Net Loss of ฿927m in 2Q19 from a Low Sales Volumes and Refining Margin

ESSO (Thailand) Public Company Limited (ESSO) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

ESSO recorded a net loss of THB 927.38 million due to loss from sales of THB 1,272 million, compared to a profit THB 3,449 million last year. The downstream segment made a loss of THB 569 million, primarily driven by lower sales volumes, lower refining margin, and net unfavorable inventory impact.  The Petrochemical segment made a greater loss from sales when compared to the same period in 2019 driven by lower Paraxylene selling pricing and higher energy costs.