$

TOP

THAI OIL
TOP.BK
Last Price
60.00
09:44 GMT / 24 MAY 2019
Value Change [%]
1.00
[(1.69%)]
Volume
22,977,200
Open
59.00
Day's High
60.25
Year's High
92.00
Previous Close
59.00
Day's Low
58.50
Year's Low
58.50
Earnings Per Share
4.39
P/E Ratio
13.45
Lot Size
100
Div. Yield (%)
4.49
Dividend
2.65
Div. Pay Date
26 APR 2019
Ex-Div. Date
28 FEB 2019
Last Trade
60.00
Last Trade Time (GMT)
09:44
Last Trade 2
60.00
Last Trade 3
60.00
Volume
22,977,200
Turnover
1,370,911
Bid
60.00
Bid Size
336,700
Ask
60.25
Ask Size
380,200
Close Bid
60.00
Close Ask
60.25
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Thai Oil Public Company Limited is a Thailand-based refiner and supplier of refined petroleum products. It operates a single-site refinery in Sriracha, Chonburi province, which serves mainly in domestic market. It also operates in petrochemicals and lube base production, ethanol production, power generation, marine and pipeline transportation systems for petroleum products and petrochemicals, and energy business consultancy services through its subsidiaries, including Thai Paraxylene Co., Ltd., Thai Lube Base Public Company Limited, Thaioil Ethernol Co., Ltd, Independent Power (Thailand) Co.,Ltd., Thaioil Power Co., Ltd., Thaioil Marine Co., Ltd., Thai Petroleum Pipeline Co.,Ltd. and Thaioil Energy Solutions Co., Ltd. respectively. As of December 31, 2010, it had capacity of approximately 275,000 barrels per day of crude oil and other feed stocks.

  • Market News
UPDATE 2-Asia oil refiners mull run cuts with margins at 16-year low for season - sources, data
23 May 2019
source: reuters.com
    * May profits more than $3/bbl lower than 10-yr average -
data
    * Naphtha, gasoline drag down refiners' profits
    * SK Energy, Singapore's SRC plan to trim output - sources
    * Japan gasoline margins remain strong - sources

 (Adds industry context, details)
    By Florence Tan and Seng Li Peng
    SINGAPORE, May 23 (Reuters) - Asia's oil refiners are
considering reducing output after margins slumped to their
lowest for the season since 2003, according to industry sources
and Refinitiv data.
    Companies that planned to trim output include SK Energy, a
unit of SK Innovation  096770.KS , the Singapore Refinery
Company (SRC), owned by PetroChina  601857.SS  and Chevron Corp
 CVX.N  and at least one refiner in Thailand, five people
familiar with the matter said.
    In China, independent refiners known as 'teapots', which
account for about a fifth of the country's crude imports,
operated at below 50% of capacity on average in April through
May, versus 64% in the first quarter, said Zang Wengang, an
analyst with Sublime Information Co.
    A spokeswoman for SK Innovation spokeswoman declined to
comment, while SRC did not respond to a request for comment.
    The people familiar with the matter declined to be
identified because they are not authorised to speak to media.
    Rising crude purchasing costs have hit refiners' bottom
line. "We plan to lower (the operating rate) a bit...soon," one
of the sources said.
    Spot crude cargoes have sold at multi-year high premiums as
U.S. sanctions on Iran and Venezuela reduced supplies for Asia
while a crisis in Russia over contaminated crude boosted Brent
prices  LCOc1 .  urn:newsml:reuters.com:*:nL4N22Q10S  urn:newsml:reuters.com:*:nL4N22Y154
    Meanwhile excess supplies of light products, gasoline and
petrochemical feedstock naphtha have squeezed margins further.
    Margins at a refinery complex in Singapore are at their
lowest for this time of the year since 2003, even narrower than
lows seen in 2009's global financial crisis, Refinitiv data
showed. 
    The profits are more than $3 a barrel lower than the average
for the past decade since 2009.  DUB-SIN-REF 
    Next month, Middle East producers led by top exporter Saudi
Arabia are set to raise official selling prices (OSP) for a
fourth straight month to track stronger spot markets.
    Crude prices "are too high while product cracks (profit
margins) are getting worse," another source from a north Asian
refiner said, adding that refiners are cutting cost by buying
cheaper straight-run fuel oil to process at secondary refining
units.
    "Aromatics margins are getting worse so refiners will try to
optimise as much as possible," the person said, referring to
profits for paraxylene, a petrochemical used to make textile and
plastic bottles.
    Asia's naphtha crack on Wednesday hit a six-month low at a
discount of about $9 a barrel to Brent crude  NAF-SIN-CRK ,
lower than that for fuel oil.
    Asia's naphtha supply from the west had remained high
despite lower demand caused by ongoing cracker maintenance,
outages at plants in Taiwan and Japan and an extended shutdown
at a naphtha cracker in South Korea.   O/ACRACKER 
 urn:newsml:reuters.com:*:nL3N22L20Q urn:newsml:reuters.com:*:nL3N2252CI  urn:newsml:reuters.com:*:nL3N21S2FK  O/NAPARB 
    OUTLOOK TO IMPROVE?
    Still, margins may begin to improve. About 24% of Japan's
refining capacity will be shut for maintenance by early June
while state-run Indian refiners have already made plans to shut
down units for upgrade, and Reliance Industries  RIL.NS  plans
to halve crude runs at a 660,000 bpd refinery that serves
domestic markets.  urn:newsml:reuters.com:*:nL3N22M3ST  urn:newsml:reuters.com:*:nL3N1ZA4BQ
    Domestic margins in Japan have remained strong with gasoline
profits at $25 a barrel, said a Tokyo-based analyst who looks at
Japanese refiners.
    There could be better news for refiners in China, too.
    "After suffering really bad margins for the first five
months, China's independents will likely see margins recover in
the third quarter on higher seasonal demand and as supplies
tighten from much larger export quotas," said Sublime's Zang.
    Analysts also expect a mandate to switch to low-sulphur fuel
for ships from 2020, under new international rules introduced to
protect the environment, to tighten diesel supplies, which could
boost refining margins.
    "Asian complex refiners are best positioned given their high
sour crude ratio and mid-distillates yield," Citi analyst Oscar
Yee said in a note. Gross refining margins could rise by $2 to
$4 a barrel year-on-year in 2020, he said.
    Refiners that could benefit includes Reliance, SK Innovation
and S-Oil Corp  010950.KS , China's Sinopec  600028.SS  and
Hengli Petrochemical 600346.SS  and Thai Oil PCL  TOP.BK , Yee
said.

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
GRAPHIC: Spot crude premiums in Asia hit multi-year highs on
tight supply    https://tmsnrt.rs/2E5U3wi
GRAPHIC: Singapore complex oil refinery margins    https://tmsnrt.rs/2HwRCF9
GRAPHIC: Weak light distillates drag Asia refining margins to
fresh multi-year seasonal lows    https://tmsnrt.rs/2ErjAjH
GRAPHIC: Singapore complex oil refinery margins vs 10-year
average    https://tmsnrt.rs/2HvwP50
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Aaron Sheldrick in TOKYO, Jane Chung in SEOUL,
Nidhi Verma in NEW DELHI, and Chen Aizhu, Seng Li Peng, Jessica
Jaganathan and Florence Tan in SINGAPORE
Editing by Kenneth Maxwell)
 ((Florence.Tan@thomsonreuters.com; +65 6870 3497; Reuters
Messaging: florence.tan.thomsonreuters.com@reuters.net))
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