SPRC announces net income of US$ 53 million (Baht 1,690 million)
14 May 2019

Rayong – 14 May 2019, Star Petroleum Refining Public Company Limited (SPRC) has released its operating and financial performance results for the first quarter of 2019, reporting a net income of US$ 53 million (Baht 1,690 million) and US$ 1,492 million (Baht 47,397 million) in total revenue during the quarter.

 

Mr. Timothy A. Potter, Director and CEO of Star Petroleum Refining Public Company Limited (SPRC) said that net income for the first quarter of 2019 was US$ 53 million (Baht 1,690 million), compared with the net loss of US$118 million (Baht 3,881 million) for the fourth quarter of 2018 mainly from higher accounting gross refining margin.

 

Mr. Timothy added that SPRC achieved 5.8 years and surpassed 18.8 million man-hours without days away from work injury. Operational availability (OA) and Utilization of Equivalence Distillation Capacity (UEDC) rate were 99.9% and 90.9% respectively.  Refinery utilization was lower than historic to ensure maximum margin capture. Preparations are proceeding well on the previously announced 10,000 barrels per day crude oil Capacity Increase Project and planned Turnaround and Inspection activities scheduled for November 2019.  In addition to the capacity increase, improvements will be made to enhance safety, reliability and crude feedstock flexibility.