Mr.

Patiparn Sukorndhaman
Mr. Yodphot Wongrukmit
Opportunity Day for 2008 performance Apr 01, 2009

Disclaimer
The information contained herein is being furnished on a confidential basis for
discussion purposes only and only for the use of the recipient, and may be subject
to completion or amendment through the delivery of additional documentation.
Except as otherwise provided herein, this document does not constitute an offer to
sell or purchase any security or engage in any transaction. The information
contained herein has been obtained from sources that The Bangchak Petroleum
Public Company Limited (BCP) considers to be reliable; however, BCP makes no
representation as to, and accepts no responsibility or liability for, the accuracy or
completeness of the information contained herein. Any projections, valuations and
statistical analyses contained herein have been provided to assist the recipient in
the evaluation of the matters described herein; such projections, valuations and
analyses may be based on subjective assessments and assumptions and may
utilize one among alternative methodologies that produce differing results;
accordingly, such projections, valuations and statistical analyses are not to be
viewed as facts and should not be relied upon as an accurate representation of
future events. The recipient should make an independent evaluation and judgment
with respect to the matters contained herein.

Contents
Performance FY2008
Progress of Investment Projects
Marketing Activities
Whats BCP moving on 2009?
Other Events and Activities

Performance FY2008

Factors effect to 2008 performance

High middle distillate spread

Favorable

Capacity utilization increase

74.2 KBD (2008) / 66.3 KBD (2007)

Fuel oil export market increase

133 ML/Mo (2008) / 99 ML/Mo (2007)
@ high GRM (~5.7 $/Bbl over MOPs)

High marketing margin

Market share increase
14.0% (2008) / 12.7% (2007)

Unfavorable

World oil price plunge

inventory loss & LCM

Domestic demand drop

5

Singapores oil price movement

USD/Bbl

USD/Bbl

Dubai

160
140

25

120

20

100

15

80

95/Dubai

30

AVG.FY07 =14.55

10

AVG.FY07=68.41

60

40
AVG.FY08=93.46

(5)

20

AVG.FY08=9.12

(10)

USD/Bbl

GO/Dubai

50

Y2008

Y2007

USD/Bbl

FO/Dubai

AVG.FY08=(14.93)

45
(5)

40
35

(10)

30
AVG.FY07=16.72

25

(15)
AVG.FY07 =(10.40)

(20)

20
15

AVG.FY08=25.98

10

(25)
(30)

(35)

Refinery : High GRM (excluded stock loss)

4Q08

4Q07

2008

2007

M.Baht

$/BBL

M.Baht

$/BBL

M.Baht

$/BBL

M.Baht

$/BBL

1,608

6.36

989

4.68

6,152

6.79

3,049

3.63

136

0.54

(117)

(0.55)

(216)

(0.25)

47

0.06

(6,434)

(25.45)

1,027

4.86

(4,138)

(4.54)

1,803

2.16

0.03

(942)

(1.03)

54

0.06

(4,682)

(18.52)

1,899

8.98

856

0.96

4,953

5.91

12

0.05

0.04

43

0.05

128

0.15

(449)

(1.78)

(401)

(1.90)

(1,560)

(1.71)

(1,313)

(1.56)

EBITDA

(5,119)

(20.25)

1,507

7.13

(661)

(0.71)

3,768

4.50

Adjusted EBITDA

1,307

5.17

480

2.27

4,419

4.87

1,911

2.28

Key factors
Crude Run (KBD)
Exchange rate (/$)

78.3
35.11

67.5
34.04

74.2
33.53

66.3
34.68

DB ($/Bbl)

52.64

83.39

93.46

68.41

95/DB ($/Bbl)
GO/DB ($/Bbl)
FO/DB ($/Bbl)

3.84
17.77
(7.60)

12.66
19.51
(9.99)

9.12
25.98
(14.93)

14.55
16.72
(10.40)

Base GRM
GRM Hedging
Inventory Gain/(Loss)
Write Down (LCM)
Total GRM
Other Income
Operating Expenses

Refinery : Best performance ever

wide positive spread (GO,IK)
High premium fuel oil export
Lower crude procurement cost

+6.79
-0.25

23% Hedged position (GO,IK,FO)

-5.57

Inventory loss (realized)

LCM (unrealized)

GRM* ($/Bbl)

2008 Total GRM ($/Bbl)

7.97

5.66

6
4

6.9

6.54
5.36

3.69

2
0
2007

2008

150

145

133

139

132

116

100

99

50

Crude Intake (KBD)

FO Export Sale (ML/Mo)

* Included hedging, without

1Q08

2Q08

3Q08

4Q08

inventory impact

100
90

83.6

80
70

74.3

74.2

78.26

66.3

59.6

60
50
40

2007

2008

1Q08

2Q08

3Q08

4Q08

2007

2008

1Q08

2Q08

* Annual plant turnaround & PQI tie-in 45 days

3Q08

4Q08

Volatile marketing margin

50
45
40
35
30
25
20
15
10
5

30
25
20
15
10
5
0
-5 J

-10

5
4
3
2
1
0
-1
-2
-3
-4
-5

ULR91 Marketing Margin (Bt./L)

HSD Marketing Margin (Bt./L)

Year 2007

Year 2008

Gasoline
Spread UNL95 ($/Bbl)

Spread Gas oil ($/Bbl)

Year 2007

Year 2008

Diesel

5
4
3
2
1
0
-1
-2

Marketing : Superior performance

4Q08

4Q07

2008

2007

M.Baht

St./L

M.Baht

St./L

M.Baht

St./L

M.Baht

St./L

1,101

197

(34)

(6)

1,493

65

509

24

130

57

66

34

354

43

274

32

1,231

176

32

1,847

60

783

26

Other Income

175

25

166

22

711

23

615

20

Operating Expenses

(405)

(58)

(407)

(54)

(1,367)

(44)

(1,189)

(40)

EBITDA

1,001

143

(209)

(27)

1,191

38

209

Sale Volume

KBD

ML/Mo

KBD

ML/Mo

KBD

ML/Mo

KBD

ML/Mo

o Retail

38.3

187

38.8

189

39.2

190

36.9

179

o Industrial

15.7

76

13.2

64

14.0

68

14.8

72

53.9

263

52.0

254

53.2

258

51.7

250

Retail Margin
Industrial Margin
Total MKM

Total Sale Volume

10

Increased BCPs market share

Service Station

Source : DOEB

4Q08
ML/Mo

4Q07

Mkt Share

ML/Mo

2008

Mkt Share

ML/Mo

2007

Mkt Share

ML/Mo

Mkt Share

446.0

32.6%

PTT

470.1

35.6%

470.9

33.0%

500.7

37.0%

SHELL

197.1

14.9%

224.8

15.7%

194.7

14.4%

218.8

16.0%

ESSO

216.6

16.4%

236.8

16.6%

212.1

15.7%

237.1

17.3%

BCP

184.4

14.0%

188.6

13.2%

189.2

14.0%

174.5

12.7%

CALTEX

89.7

6.8%

127.5

8.9%

100.8

7.4%

115.5

8.4%

JET

92.7

7.0%

92.1

6.4%

81.9

6.1%

91.8

6.7%

OTHERS

69.8

5.3%

88.2

6.2%

74.3

5.5%

85.8

6.3%

TOTAL

1,320.4

1,428.9

1,353.7

BCPs 2008 retail growth beated market (YoY)

Market
25%
20%

17.8%

5.8%

Domestic retail market growth compared by brand (YoY)

BCP
PTT

20.5%

15%

15%
10%

8.4%

5.7%

5%

-1.6%

0%

-2.2%

1Q

2Q

-8.5%

-7.6%

3Q

4Q

SHELL

ESSO

BCP

CALTEX

JET

12.3%
8.4%

10%
5%
0%

-1.2%

(5%)
(10%)

1,369.5

-1.2%
Retail market
Growth through
service station

(5%)
(10%)

FY

(15%)

-11.0% -10.5%

-12.7%

-10.8%

11

Total corporate performance for 2008

(Unit : Million Baht)
EBITDA

Refinery
Marketing
Depreciation & Amortization
FX-Other Gain (Loss)
Impairment Adjustment
Net Interest Expense

4Q08
(4,118)

(5,119)
1,001

4Q07
1,298

Change%
-417.3%

1,507
(209)

2008
530

(661)
1,191

2007
3,977

(204)

(840)

(819)

19

(21)

44

(75)

(16)

(41)

15

(40)

(147)

(121)

(794)*

(462)

(4,479)

911

1,350

(507)

(3,129)

404

-874.5%

(689)

1,691

-140.7%

Inventory Gain/(Loss)

(6,426)

1,027

-725.7%

(5,080)

1,857

-373.6%

Adjusted EBITDA

2,275

270

741.3%

5,610

2,120

164.6%

Refinery

1,307

480

4,419

1,911

Marketing

1,001

(209)

1,191

209

Pre-tax Profit
Tax
Net Profit

* Net refinance expense 243 MB

(1,045)

-86.7%

3,768
209

(217)

-591.7%

Change%

356

2,581

-140.5%

(890)

12

Progress of
Investment Projects

13

PQI project
Current
Simple Refinery

After
PQI Completion
Fuel Oil, 9%

Fuel Oil, 33%

LPG, 5%

LPG, 3%

Diesel, 52%

Jet Fuel, 9%

Jet Fuel, 11%

Diesel, 35%
ULG, 18%

ULG, 25%

Product Quality Improvement (PQI) : Investing in Hydrocracking Unit

and other supporting units
Investment Cost : USD 378 million
Capacity : 25 KBD Hydrocracking Unit
Progress : Commissioning period
14

PQI project
Simplify Block flow diagram

Hydrogen

LPG

3%

Mogas

18%

IK/Jet
Diesel
Fuel Oil

11%
35%

33%

HPU

Hydrogen Plant

Vacuum
Gas Oil
24%

HCU

Hydro-cracking Unit

VDU

Vacuum Distillation Unit

Mogas

7%

Diesel

17%

Fuel Oil
9%
Note :

Scheduled for the rest

April 09
Performance
Test

Mogas = 25%
Diesel = 52%

14 May 09
Inauguration

15

Co-generation plant & NG

Project : Co-generation Power Plant

Invested by
: PTT (BOT : Build,
Operate and Transfer to BCP after 25 Yrs)

Capacity Electricity : 19.7 MW

Steam
: 90 Ton/Hour
Expected Completion : Jun09
Progress

Project

: Natural Gas (NG)

Investment Cost

: Baht 105 million

Expected Completion : Jul09

Progress

: 88% (Feb09)

: 76.05% (Feb09)
16

Bio diesel (B100) plant

Bio Diesel (B100) : Produce B100

Investment Cost : Baht 1,018 million
Capacity : 300,000 litters per day
Construction Period : Apr08 - Jun09
Progress : 49.5% (Feb09)
17

Marketing Activities

18




   + 
AVG. YTD ( ..- ..)


(!"#/%)
)".
*
+
,
-*
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).+"#
%/0

2551
642.3
285.4
318.9
207.0
252.6
81.9
28.2
238.0

2550
601.0
297.6
327.0
189.8
263.9
91.8
31.7
359.0

+6.9%
-4.1%
-2.5%
+9.1%
-4.3%
-10.7%
-11.1%
-33.7%

#& #1


2,054.4

2,161.7

-5.0%

 : !"#$%&&' ()&#$%&&'

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1
3
2
5
4

2551
31.3
13.9
15.5
10.1
12.3
4.0
1.4
11.6

2550
27.8
13.8
15.1
8.8
12.2
4.2
1.5
16.6

100.0

100.0

+3.5
+0.1
+0.4
+1.3
+0.1
-0.3
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-5.0
19




 2##  + 
AVG. YTD ( ..- ..)


(!"#/%)
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2551
500.7
194.7
212.1
189.2
100.8
81.9
26.1
48.1

2550
446.0
218.8
237.1
174.5
115.5
91.8
28.2
57.8

+12.3%
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-10.5%
+8.4%
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#& #1


1,353.7

1,369.5

-1.2%

 : !"#$%&&' ()&#$%&&'

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1
3
2
4
5

2551
37.0
14.4
15.7
14.0
7.4
6.1
1.9
3.6

2550
32.6
16.0
17.3
12.7
8.4
6.7
2.1
4.2

100.0

100.0

+4.4
-1.6
-1.6
+1.2
-1.0
-0.6
-0.2
-0.6
20




 2## '3+4*
AVG. YTD ( ..- ..)


(!"#/%)
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2551
90.3
38.7
32.0
45.8
17.5
20.2
5.6
3.7

2550
49.2
24.2
16.0
31.2
9.3
7.6
2.4
1.7

+83.4%
+59.8%
+99.2%
+46.6%
+89.5%
+164.9%
+130.7%
+117.7%

#& #1


253.8

141.7

+79.1%

 : !"#$%&&' ()&#$%&&'

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1
3
4
2

2551
35.6
15.3
12.6
18.0
6.9
8.0
2.2
1.4

2550
34.7
17.1
11.3
22.0
6.5
5.4
1.7
1.2

100.0

100.0

+0.8
-1.8
+1.3
-4.0
+0.4
+2.6
+0.5
+0.2
21

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2009

22

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2551
60.3
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2550
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2
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#& #1


168.5

37.2

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2551
35.8
17.0
5.7
37.4
1.8
0.8
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1.3

2550
23.2

100.0

100.0

76.8
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+12.6
+17.0
+5.7
-39.4
+1.8
+0.8
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+1.3
23

1$%<%'",-'./#$%&&'<D'

RM HIGHLIGHT 2008

2%<2.)'",-'./DE2F8G>$75#!BHC'" 49% 5*I' 66.1% B>&*!+",-'./ MOGAS )

GSH POOL
ULG POOL

AVG.
2007

AVG.
2008

2008

24

1$%<%'",-'./#$%&&'<D'

RM HIGHLIGHT 2008

2%<2.)'",-'./ B5 5#!BHC'" 25% 5*I' 51% B>&*!+",-'./ <58$ )

25%
51%

43% 41% 45% 49%

54% 56% 56% 54% 53% 54% 54% 56%

49%

57% 59% 55% 51%

46% 44% 44% 46% 47% 46% 46% 44%

AVG.

AVG.

Jan Feb Mar Apr May Jun

2007

2008

Power D B2
Power D B5

75%

Jul Aug Sep Oct Nov Dec

2008

25

D1'B//",-'./B>&6$<4&" *N 2552 >&%4F@& PQI

5#!/><",-'./" 256 $:'$!6/5<=>' 5*I' 297 $:'$!6/5<=>' 5#!BHC' 16%
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26

27

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B//"*n""4%' 55 D-.& 5*I'
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28

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36

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426

158

218

112

28

37

19

1,004

44.60%

42.41%

23.85%

32.14%

42.86%

27.03%

33.33%

33.33%

5.26%

36.85%

@!<5*I' % %4&)%$

29

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31

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32

4&"DE2F8G>$7@$%4

RM HIGHLIGHT 2008

/><",-'./'C,%'1.'4%64&"DE2F8G>$7 5w$/6.>5<=>'@$%4*N 2008/%&@&5#!BHC'*(+ 34.15%

10.30
9.30
8.30
7.30
6.30
5.30
4.30

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*N 51 5w$/ 7.96 ML/MO

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39

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44

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45

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49

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TOTAL
Total

112
22

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GreenWashEx

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4
43

GreenWash

37

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GreenAutoService

20

40

60

80

100

120
50

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15 .@. 30 5./.52
4!V% 4&"y "%<!"
S6)"3.>'9]: *$><U%/D'.'>'T
.)%4B'2.&&4 9-:4!6)"5]r@
2U#3/'67q 11 /].)&5c$2&'67

Whats BCP moving on 2009?

57

New VISION
A Thai leading Energy Company that operates
on good governance principles with keen
concerns to social and environmental aspects for
Thailand and beyond.
The company has proved to generate
continuous profit sharing through its strong and
modern management, high qualified and
experienced human resources.

MN P QRS TU V WVXYUZ P P[ \ ][ \ MPS P ^_ R `S a bcU d d\P

ecf^_ R `S a g i MPjk i dVlk m R \ docgiQeVPV\d
^_ R `S a Vlk M N P ^ R R p i X \ d XUk d Xj P pl m[ \ Pq ` g i
mSk d er]c i pecfmU d spt]Xpl ` \RaU ] `\RVlk
VU P mpU X ecfpl ^ RRp\uS Q \c] r XQ_ s c\`RVlk pl
sr\pRvsr\pm\p\Rwmvd

From old version, now we have changed to

Greenergy Excellence
p_dmR\dmRRs^_R`SaiX\dMNPpSgRgimSkder]cip Mbjki`\RbUzP\iX\dXUkdXjP
Statement of Vision:
|UQMscjkiP^_R`SabcUdd\Pecf^_R`SagiMPjkid t]Xp_dMPP`\RocSgecf
`\Rgc\]Vlk}m}agioc`RfVQ]\PmSkder]cip ecfMNPNRftXYPgimUdsp
MbjkimR\dsr\ppUkPsd MgSQtge`ids`R
58

Value Statement

Beyond Expectation

HIKLMNHOPROSTU

Continuing Development
L_NR`Ka`KLMNH\b^K\cR
Pursuing Sustainability

VWNKVWWLZH[\I]RT^K

59

Whats moving on 2009?

Turn to be a complex refinery
(PQI start up 2Q09)
Plant utilization increasing
Lower cost of production by
utilizing CO-Gen & NG
FO export term:spot (50:50)
PTT off-take agreement
40% hedged position ensure
GRM and performance for 09
Preparing for NCI Rating
Liquidity is king
Applying more financial tools
for enhancing efficiency
Analyzing stock liquidity
problem
Providing funding for project
investment
Enhancing corporate rating
through PQI completion

Refinery Bus.

Pushing sale promotion of

renewable energy
Gas station rebranding
Promotion cooperative station
Market expansion to new
territory
Marketing Bus. Collection enhancement
- Trade credit insurance
- Dealer financing
- Direct Debit

Financial
Position
Resources

Developing employee
competency
Employee engagement
program
Developing technology for
serving work anywhere
anytime
Corporate rebranding
60

Whats moving on 2009? (contd)

ly
n
O

ion
t
a
THB mil
str
u
l
lI

USD/bbl

12,000

12

Adjusted EBITDA (left-hand)

10,000

10

GRM (right-hand)

8,000

6,000

4,000

2,000

2009F

2008

2007

2006

2005

2004

2003

Note: Performance is based on excluding inventory effect

Assumption: DB 55 $/Bbl, GO/DB 15.5 $/Bbl, FO/DB -12.0 $/Bbl,
hedged 40% of crude run level

61

Other Event & Activities

62

CSR
1

1. ]W.eRIVWf gVKRT^HRMS hWWHhNWijkb]hNWl[m

nW e Hij o WT [ NWgSpnRb h KNR oWT qb r oNKkNh
PtuWOSv\H k_Nhb] (H[NwR) WMHhboV_NRbhKNROxu
nWptxRK wI HwRWeotWKhSb^ R Ry_ N Hb RoNKkNhkb ]
hT k hWWHo_ N Onz m PWpt\wR ] M \hNWrNVv V pnNR
[R N tWKOWv \ Rnj R VT R aRRVI xI H MT r 64 ORc^ e KlR
tehNVMbRneg[KwNuT
2. RN \ g n r \ M WWfWb uR w N m RI hj S Wb h q N h N W
Wb{HRuWvMNhNWhWprWMKnSbK KNR Heoi N[Hhb R
[RN M x e K o WT qb r o N K k N h P tuWO Sv \ H k_ N hb ]
(H[NwR) k_ N RMR 2,000 ic R l[ g h ij P WpVo|b \
kNhV|NneNhNUrv^[RNMO\zR f eKLhNWoWT[NW
VMRu_NoS[ReKVWMK e_NO|exNHrpOSVe kbK[Mb]
RLWWNwVvHN OHc^erv^ 10 }bRMNLH 2551 rv^iNRHN

63

CSR

64

Rewards

oWTqbr oNKkNhPtuWOSv\H k_Nhb] (H[NwR) Z]WboloWboWeKWpooHNuW{NR ISO/TS 16949:2002 `^K

OP R WpooHNuW{NRhNWkb ] hNWLI f |NnlReI u VN[hWWH\NR\Ru rv^ Z ] Wb o hNW\eHWb o lRWp]b o VNhS
V_ N [Wb o iST u |b f Ry_ N Hb R [S e Sc^ R OP R WN\gWhxeKPWpOrUZr\ t]\Hv \e]nkR MKU Wb h HT u W ij w M \
hWWHhNWijkb]hNWl[m Wbo HeokNh |jWv MbRUbnr ijkb]hNWrb^MZP oWTqbr \jZ ROuz] WvkTVuWN ee TV
OrzHV (PWpOrUZr\) k_Nhb] (URS)

65

Rewards

66

Rewards

nSOeh}Mb w OhqW eb K hj W PWp}NRhWWHhNW nW e HLfpij o WT [ NW oWT qb r oNKkNhP t uWOSv \ H k_ N hb ]

(H[NwR) Wb o WNKMb S WN\KNRoWWqb r |T o NS]v O ] R (Top
Corporate
Governance
Report
Awards) WNKMbSoWTqbrk]rpOov\R]vO]R]NRRbhSKrIRVbHnbR} (IR Excellence Awards) gSp WNKMbS
oWTqbrk]rpOov\R]vO]R]NR CSR (Corporate Social Responsibilities Awards) kNhKNR SET
AWARDS 2008 `^Kkb]t]\uSN][SbhrWbn\g[KPWpOrUZr\gSpMNWVNWhNWOKTR}RNLNW f We\bS
nNWNheR eSS wbyR 5 V\NHnNWNheR OHc^eMbRrv^ 21 n.\. 2551

67

Rewards

RN\eNRbRr PR\NWwIR e]vuRN\hWb{HRuWv HeoWNKMbSwRpOSTU ASEAN Business Awards 2008 lR

VNxNLMNHWboiT]weoueVbKLHgSpVT^KgM]SeH [Wce Corporate Social Responsibility V_N[Wbo}IWhTk
xRN]l[mlRhSIHPWpOrUeNOv\R gh]W.eRIVWf gVKRT^HRMS hWWHhNWijkb]hNWl[m oWTqbr oNKkNh
PtuWOSv\H k_Nhb] (H[NwR) t]\Lb]OScehkNhoWTqbrrv^]_NORTR}IWhTke\NKt]]O]RgSpPWpVoLMNHV_NOWzk
lR] N Ru N K V K iSu e hNWOkWT m OuT o turNKOUWq{hT k xeKeNOv \ R |N\lu h NW]_ N ORT R hNWxeK The
ASEAN Business Advisory Council WMHhbo V|N[ehNWLNZr\ V|NeIuVN[hWWHg[KPWpOrUZr\
gSpVHNLH}RNLNWZr\ f [eKghWR] oeSSjH tWKgWHnSNNger}TRv hWIKOrn OHc^eOWzMRvyOHc^eMbRrv^
27 h.n. 2552

68

69

For more information;

www.bangchak.co.th click Investor Relation Email : ir@bangchak.co.th Tel. 02-3354583

VDU : Modify level instrument

71

VDU : Modify level instrument

72

Safety preparation during modification

73

VDU : Initial oil in

74

Catalyst Loading - HPU Reformer

75

HPU

76

Equipment rechecking

77

HCU : Leakage at Control Valve

78

HCU : Leakage at orifice flange

79

HCU : Leakage at orifice flange

80

Steam Blowing at HCU

( Flow 15 T/H )
( Noise 85 dB. )

81

EHS Pump

82

EHS Pump

83

HPU correction

84

HCU : catalyst loading

85

HCU : catalyst loading

86

Depressurized Test

87

Night Shot of VDU & HPU

88

89

90

91

92

Bangchak is an Integrated Oil Company in Thailand

Refinery
Type

Refinery
Capacity

Complex

177

550

Simple

120

517+ 548

Simple

17

78

Thai Oil

Complex

275

IRPC

Complex

215

PTTAR

Complex

210

Star

Complex

150

PTT

1,307

Shell

553

Chevron

439

Susco

98

Petronas

111

PT

211

Independent Gas Stations

14,120

1,164

18,536

Players In Thailand
ESSO
Integrated
Integrated Bangchak (BCP)
Rayong Purifier (RPC)

Refinery
Refinery
Only
Only

Marketing
Marketing
Only
Only

Total

(KBD)

Service
Station

Integrated oil company of which

operation ranges from refinery
business to marketing business
Refinerys crude run 120 KBD,
10.3% of total Thailand capacity
The 2nd largest in number of
service station
High quality refined petroleum
products with reduce environment
impact
Market share through service
station, FY2008, account for
14.0%, rank no.4th largest in the
country

Source: Department of Energy Business (DOEB)

93

Business model (before PQI)

Crude
Cost

Value Chain

Wholesale Customers

BCP
s
BCP
BCPs
Refinery
Refinery
Business
Business

Import
Crude
(20%)

Typical Yield

(80%)

Refined
Products
Simple Refinery
Nameplate : 120
KBD

2%

PTT

Local
Crude

LPG
Mogas
IK/JPIK/JP-1
HSD
FO

3%
18%
11%
35%
33%

40%

Wholesalers

Wholesalers

Export

5%

GRM

33%

60%
ULR91, GSH95, GSH91, HSD, B5, E20, E85

Retail Customers (Service Stations) 45%

Standard Size (Stations)
CO
255
JV
148
DODO 114

BCP
s
BCP
BCPs
Marketing
Marketing
Business
Business

Ex-Ref
Price

JP-1, FO, HSD, LPG

Industrial Customers 15%

Thai
Airways

517

MKM
Wholesale
Price

JP-1

Factories FO, LPG, LUBE

Small Size (Stations)

MKM

CO-OP 548

+ Non Oi l

LUBE Car Care NGV Station

Mart Coffee Shop & Other Facilities

Jobbers

Gas Station

LPG

Jobbers

HSD
Retail
Price

94