Opportunity Day - sprc.listedcompany.com · Opportunity Day 2Q/2020 results 2 The information...

Opportunity Day 2Q/2020 results

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“One Family…

Opportunity Day2Q/2020 results

Fueling the future of Thailand”


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The information contained in this presentation is intended solely for your reference.

This presentation contains “forward-looking” statements that relate to future events, which are, by their nature, subject to significant risks and uncertainties. All statements, other than statements of historical fact contained in this presentation including, without limitation, those regarding SPRC’s future financial position and results of operations, strategy, plans, objectives, goals and targets, future developments in the markets where SPRC participates or is seeking to participate and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “will”, “may”, “project”, “estimate”, “anticipate”, “predict”, “seek”, “should” or similar words or expressions, are forward-looking statements.

The future events referred to in these forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control, which may cause the actual results, performance or achievements, or industry results to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

These forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which SPRC will operate in the future and are not a guarantee of future performance. Such forward-looking statements speak only as of the date on which they are made. SPRC does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. The information set out herein is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company.

SPRC makes no representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements represent, in each case, only one if many possible scenarios and should not be viewed as the most likely or standard scenario. No assurance given that future events will occur or our assumptions are correct. Actual results may materially differ from those provided in the forward-looking statements and indications of past performance are not indications of future performance. In no event shall SPRC be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from use of this material. SPRC makes no representation whatsoever about the opinion or statements of any analyst or other third party. SPRC does not monitor or control the content of third party opinions or statements and does not endorse or accept any responsibility for the content or use of any such opinion or statement.

SPRC’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state of the United States, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of such act or such laws.

This presentation does not constitute an offer to sell or a solicitation of an offer to buy or sell SPRC’s securities in any jurisdiction.

DISCLAIMER


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Quarterly Highlights

Zero COVID-19 case of employees and contractors

• US$66 M in savings from Cash Flow Improvement Initiatives in 2020

• Continue identify cost control and cash flow initiatives

• Executed LT loan to secure financial position

Work closely with customers to manage supply and demand swing

Maximize value in tough environment

.

.

SAFETY

OPTIMIZATION

CUSTOMERS MANAGEMENT

CASH FLOW MANAGEMENT & COST CONTROL


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Contents

Highlight of Financial & Operation results

Cash Flow Improvement Initiatives

Market Situation

Optimization Future Opportunities


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TOTAL DAYS AWAY FROM WORK RATE

(‘DAFWR’)

* Normalized UEDC excluding economically concern for the best profitability.

Operational PerformanceHighlights &

Financial performance


Optimization Future Opportunities

UTILIZATION OF EQUIVALENT

DISTILLATION CAPACITY (UEDC)

OPERATIONAL AVAILABILITY

EX. TURNAROUND

CRUDE & PRODUCTOPTIMIZATIONNo one gets hurt

Crude Optimization• Maximize highest margin crude

(ME) up to 80% of slate

Product Optimization• Maximize production of Diesel to

44% and minimize production of Jet and FO in 2Q20 to generate higher GRM

• Zero Jet production starting in July

85.1% 86.7%80.0%

88.0% 83.4%

2Q19 1Q20 2Q20 6M19 6M20

85.1%*

DAFWR

OPERATIONAL AVAILABILITYEX. TURNAROUND

UEDC

Market Situation

99.8% 99.5% 100.0% 99.9% 99.8%

2Q19 1Q20 2Q20 6M19 6M20

0 0 0 0 0

2Q19 1Q20 2Q20 6M196M20

89.7%*


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Financial Performance

US$/bbl

GRM

OPEX PER BARREL

US$/bbl

NET IBD / EQUITY RATIO

▪ Accounting GRM:

➢ Significantly increased from higher GRM and Stock gain of US$2.86/bbl

▪ Market GRM and Net Income: :

➢ Increase mainly driven by crude slate optimization/lower crude premiums and flexibility to shift low value products to high value products

▪ OPEX per barrel:

➢ Despite lower crude throughput, cost control efforts kept OPEX/bbl at or below historical levels

▪ Net IBD/Equity Ratio

➢ Improvement of Net IBD/Equity ratio is the result of cash flow initiatives

US$ M

Highlights & Financial performance

1.81 1.66 1.82 1.89 1.74

2.08

0.32 0.16

1.41

0.24

2Q19 1Q20 2Q20 6M19 6M20

T&I and Project OPEX Normal OPEX

3.89

1.98 1.98

3.30

1.98

2.57 1.28

4.65 2.83 2.90 2.29

(20.34)

7.51 5.17

(6.95)

2Q19 1Q20 2Q20 6M19 6M20

Market GRM Accounting GRM

(18.9)

(261.0)

36.7 34.0

(224.3)

2Q19 1Q20 2Q20 6M19 6M20

0.1

0.5

0.3

2Q19 1Q20 2Q20


Optimization Future OpportunitiesMarket Situation

NET INCOME


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Cash Flow Improvement InitiativesHighlights &



Future OpportunitiesMarket Situation Optimization

Without impacting safe and reliable operations, short term deferrals on investment spending

Maximize high value product production

INVENTORY REDUCTION OPEX REDUCTION

.

Oil Inventory Management freed up cash flow approximately US$31M

INVESTMENT OPTIMIZATION

Control on cost management effectiveness

PROCESS OPTIMIZATION

. ..

Generated saving of US$66M in 2020

Continue to find more potential opportunity and initiative for further cost reduction


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Overview of oil demand growth, inventories and GRMHighlights &




GLOBAL PRODUCT INVENTORIES

• Global inventories built significantly in Q2 due to COVID19 impact on demand.

• Towards the end of Q2, start to see a draw down of inventories as lockdown measures eased

Million barrels/day

▪ Oil demand in 2020 is expected to fall by 10.3 mb/d, mainly driven by North America and Europe, with the biggest declines seen in the first half of the year. The global demand is projected to rebound by 8.4 mb/d in 2021

▪ Global crude oil production as produce in 2020 decrease -7.7 mb/d and expect to increase 4.6 mb/d in 2021

INCREMENTAL OIL DEMAND

OIL MARKET OUTLOOK

ASIA (include Middle East)

NORTH AMERICAEUROPE

LATIN AMERICA

AFRICA

EURASIA/CIS

2019 2020e 2021e

▪ Typical SPRC GRM is in range of US$5-7/bbl.

▪ Q2 spread large due to low crude oil premium and better domestic product netback/margin.

SINGAPORE GRM

US$/bbl

-1

0

1

2

3

4

5

6

7

8

9

10

2012 2014 2016 2018 Q2 Q4 Q2

IMO Impact

SPRC GRM

Singapore

GRM

20202019

Strong gasoline demand & low crude

oil premium


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Market situation

DUBAI PRICE

US$/bbl US$/bbl

GASOLINE CRACK

US$/bbl

JET FUEL CRACKDIESEL CRACK

US$/bbl

US$/bbl

FUEL OIL CRACK

67.4

50.7

30.5

43.3

2Q19 1Q20 2Q20 3QTD20*

7.5 6.7

2.6 3.1

2Q19 1Q20 2Q20 3QTD20*

12.4 11.0

5.7 5.7

2Q19 1Q20 2Q20 3QTD20*

12.2 8.5

(0.1) 0.4

2Q19 1Q20 2Q20 3QTD20*

(2.3)

(7.4)

(1.6)(3.4)

2Q19 1Q20 2Q20 3QTD20*

MURBAN OSP

US$/bbl




*3QTD20 refers to period from the beginning of 3Q20 to August 7th, 2020

2.713.39

4.413.51

1.88 1.88

-2.75

-6.95

-4.45

1.001.75

0.85

2Q19 3Q19 4Q19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 (F)


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PRODUCT OPTIMIZATION

PRE & POST COVID-19

* Zero Jet A-1 Production planned on 1st July** Lighter crude processed and shifted Jet yield

OptimizationHighlights &

Financial performanceFuture OpportunitiesOptimization

Cash Flow Improvement Initiatives Market Situation

CRUDE OPTIMIZATION

PRE & POST EVENT PROJECT 2019

21%16%

11%

2%

68%

82%

2019 6M20

Middle East Far East Domestic

Event project 2019 enhanced capability to utilize more light crude to maximize the crude benefit.

LPG

Chemical Naphtha

Mogas

PGP

Jet

Diesel

Fuel Oil

Asphalt

8% 7%

2% 3%

4% 7%**

28% 32%*

8% 0-2%*

43% 50%*

8% 5%**

1% 0.5%

PRE COVID-19 POST COVID-19

POST COVID-19: ❑ Minimized Jet and Fuel Oil production then zero Jet production starting from July.❑ Optimized utilization to meet domestic demand.❑ Shifted the yield of export Diesel to domestic Gasoline.


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Future Opportunities

SPRC’s strategic team is studying on various opportunities.

Specific in Oil & Gas industry

Quarterly update to the Board and will communicate when appropriate


Future OpportunitiesOptimizationCash Flow Improvement

Initiatives Market Situation


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Zero Jet Production since July and reduced product yields of low margin products i.e. HSFO from 10% to 5%

Monitored crack spread different between VLSFO and HSFO.

Optimized % of crude diet from M/E as F/E crudes to capture to best benefit

Initiatives to generate $66 million in cash flow by end of year.

Potential partial recovery, amounting approximately US$ 5-6 million by this year and continue to work with relevant authorities regarding the potential recovery funds from BEC

Executed LT loan to secure financial position

Key take away messages


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Appendices


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SPRC’s Formula for success

SAFETY

(Injuries per 200,000 man-hours)

▪ Achieved over 7 years without Days Away From Work injury. The last DAFW was 24 Jun 2013.

▪ Achieved 28.2 million man-hours without Days Away From Work injury.

PERFORMANCE UPLIFT

FROM “BLIP”

US$/bbl

BLIP: Bottom Line Improvement Program

RELIABILITY OPTIMIZATION MARKET GRM

▪ Sustained high availability but lower UEDC due to the optimization of economic return from weak demandas a result of COVID-19 pandemic.

▪ Target top quartile performance in availability and utilization among over 90 refineries in the Asia Pacific and India Ocean region.

OPERATIONAL AVAILABILITY

EX. TURNAROUND

A strong foundation of personal safety … …exceptional reliability… …and maximizing GRM…driving optimization & cost efficiencies…

US$/bbl

TOTAL DAYS AWAY

FROM WORK RATE

0 0 0 0 0

2Q19 1Q20 2Q20 6M19 6M20

99.8% 99.5% 100.0% 99.9% 99.8%

2Q19 1Q20 2Q20 6M19 6M20

2.57

1.28

4.65

2.83 2.90

2.13

0.43 0.13

1.68

0.28

2Q19 1Q20 2Q20 6M19 6M20

SG GRM

No one gets hurt

▪ Significantly increased mainly driven by crude discount and improving cracks of key products as a result of demand recovery from Covid-19 lockdown easing.

▪ Captured BLIP benefit from good crude and process optimization.

▪ Re-baseline BLIP target in 2020 to reflect new capacity and settle the sustainable performance.

2.39

1.38 1.18

2.37

1.28

2.20

0.80 0.80

2.20

0.80

2Q19 1Q20 2Q20 6M19 6M20

Target

85.1% 86.7% 80.0%88.0% 83.4%

2Q19 1Q20 2Q19 6M19 6M20

EDC UTILIZATION RATE


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CRUDE INTAKE

• 14 and 18 types of crude processed in 2Q20 and 6M20.

• Market drove to maximize Middle East Crude.

Crude

*Industry average of 5M20 during January-May 2020Source: Company data, EPPO

1%

30%21% 16% 16% 16%

13%

12%

2% 2% 2%

10%

67%82% 80% 82%

47%

2Q19 1Q20 2Q20 6M20 Industry average5M20*

Middle East

Far East

Domestic

Others


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Products

▪ Low domestic placement due to the impact of COVID-19.

▪ Export sales including Competitive market sales at 5% in 2Q20.

PRODUCTION YIELD DOMESTIC SALES

SPRC Competitive Export Industry Average*

▪ Low crack spreads over Dubai from weak demand drove to minimize Jet production.

10% 7% 7%

3%3% 3%

2%1% 1%

9%6% 5%

3%

35%39% 44%

47%

7% 8% 3%

8%

23% 25% 24%

21%

4% 5% 7%

4% 4% 4%20%

2% 2% 3%

2Q19 1Q20 2Q20 Countrydemand5M20*

PGP

LPG

Light Naphtha

Gasoline

Jet

Diesel

Fuel Oil

Asphalt

Mix C4

Others

*Country Demand of 5M20 during January-May 2020Source: Company data, EPPO

*Industry Average of 2Q20 during April - May 2020Source: Company data, EPPO

86% 85% 84% 83% 81%75%

5%5%

5%

1 2 3 4 5 6 7 82Q202Q19 1Q20


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NET INCOME

US$/bbl

EBITDA

US$ M US$ M

Profitability :

➢ Significantly improved from net loss of US$261.0M in 1Q20 to net gain of US$36.7M in 2Q20 due to higher GRM and NRV reversal but partly offset with stock loss and low crude intake.

➢ FX loss in 2Q20 of US$1.0M reflected Baht appreciation against USD on net Baht payables.

EBITDA and profitability

(18.9)

(261.0)

36.7 34.0

(224.3)

2Q19 1Q20 2Q20 6M19 6M20(5.6)

(303.4)

69.0 80.2

(234.4)

2Q19 1Q20 2Q20 6M19 6M20


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CFO:

➢ Cash flows used in operating activities reflecting losses of US$281.9M but partly offset with working capital of US$195.4M and add back non-cash items of US$41.0M.

CFF:

➢ Proceed from Long term loan of US$270.0M, partly offset with net repayment of Short term loan of US$203.4M and Dividend payment of US$8.3M.

Cash Flow

CASH FLOW

US$ M

Net repayment Short term

Loan(203.4)

Dividend(8.3)

Long term Loan270.0

Loss before income tax

(281.9)D&A and Non Cash Items 41.0Working Capital195.4Tax &

Interest Paid (2.7)


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9.1

12.4

17.1

9.6 10.7

• SPRC’s dividend policy is to pay out at least 50% of net profits semi-annually.

*Dividend yield based on closing stock price as of the performance period of dividend declaration

DIVIDEND POLICY

DIVIDEND PAYMENT

(Avg. 4.2%-4.8%)

Closing stock price as of the performance period

0.2638

1.1824 1.1427

0.5928

0.1827

2.9%

10.8%

7.1%

4.6%

1.8%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

-

0.2000

0.4000

0.6000

0.8000

1.0000

1.2000

1.4000

2H15 2016 2017 2018 2019

Dividend per share

Dividend Yield*

SETHD

Dividend Policy and Yield


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Business Email Compromise Incident

• Fraudulent emails sent to SPRC

• Transferred to wrong account

Fact of incident

✓ Informed AC and board

✓ Stopped the fund

payment

Immediately action

✓ No insider involvement

✓ Investigated by external experts

Investigation process

& result

✓ Enhanced on cyber security

✓ Tightened the payment control processes

Preventive actions

o In process of recovery payment

o Engaged external counsel to assist

o Potential partial recovery, amounting approximately US$ 5-6 million by this year

Recovery payment

Current Status


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No one gets hurt

Operational excellence

Bottom Line Improvement Program

Continue to evaluate for growth opportunities

Looking ahead


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SPRC’s Winning formula

“At SPRC we believe that nothing is more important than being safe and

reliable.

We work together as one family to protect our employees,

the environment, the community, and to be our customers partner of

choice.

All of which creates maximum value for SPRC’s shareholders.”

Tim Potter, CEO


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ASSET BREAKDOWN LIABILITIES & EQUITY

US$ M US$ M

Financial position

83.75 132.70

880 840

589

224

237

264

1

3

Dec-19 Jun-20

Cash and cash equivalents

Account receivables

Inventories

PP&E

Other current & noncurrent assets

1,071 838

16

273

703

352

Dec-19 Jun-20

Current liabilities

Non current liabilities

Total Equity

1,790 1,463 1,790 1,463

Note: • ST and LT loans of US$284M included in Liabilities.• Retained loss of US$147M


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Income statement

Unit: US$ M 2Q19 1Q20 2Q20YoY QoQ

+/- +/-

Revenues 1,553.0 1,256.4 807.3 (745.7) (449.1)

OPEX (53.6) (27.6) (25.6) 28.0 2.0

EBITDA (5.6) (303.4) 69.0 74.6 372.3

Depreciation & Amortization (20.4) (22.4) (22.4) (2.0) 0.0

Profit for the period (18.9) (261.0) 36.7 55.6 297.7

EPS (THB per share) (0.14) (1.91) 0.26 0.4 2.2

6M19 6M206M

+/-

3,044.7 2,063.7 (981.0)

(94.3) (53.2) 41.2

80.2 (234.4) (314.6)

(41.4) (44.9) (3.5)

34.0 (224.3) (258.3)

0.25 (1.65) (1.90)


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SALES BY VOLUME

US$/bbl

53%34%

13%

SALES BY REVENUE

▪ Chevron and PTT account for 88% of total sale in 2Q20 by revenue.

▪ Others are products sold as Petrochemical feedstock and intermediate product exchange.

55%

33%

12%

Others

2Q19

Others

2Q20

49%

33%

18%

Others

2Q19

Others

51%

28%

21%

Others

2Q20

Sales by customers


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Low gearing means we are financially resilient and able to gear up to seize growth opportunities

STRONG BALANCE SHEET

One of world’s leading oil and gas groups with over a century of experience worldwide. The Chevron connection brings bargaining power, crude supply, offtake agreements and access to proprietary technology and systems

CHEVRON RELATIONSHIP STRATEGIC LOCATION

Location in Map Ta Phut ensures low logistics costs with access to

dedicated deep water jetty and an SPM for VLCCs. Puts us close to

several important customers.

TECHNICAL CONFIGURATION

Our refinery configuration enables us to buy cheaper crudes and turn them into higher

value products, including a higher gasoline yield than our competitors.

The SPRC competitive advantage


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Corporate Social Responsibility for COVID-19

SPRC CONTINUES TO SUPPORT THE FIGHT AGAINST THE COVID-19SPRC CONTINUES TO SUPPORT THE FIGHT AGAINST THE COVID-19

8,200 masks and 600 bottles of hand sanitizer gels to local communities, media groups, and government agenciesDonated the survival bag to

communities

Make the face shield and mask for fishermen and operational officers8 sets of Power Air Purifying

Respirator to 4 Hospitals

812,000 THB donation from Matching fund project "Double Happiness…Happiness of giving is greater than ever" to 7 hospitals

1,356 sets of PPE and 130 sets of face shield to hospital, Rescue Foundation and Rayong Provincial Public Health

10 sets of Humidifier with integrated flow generator to Rayong hospital

TB Safety Cabinet for Respiratory Disease Specimen Collection to Queen Sirikit Naval

Hospital

159 sets of thermal scanner to communities and fisheries


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Covid-19 Prevention Measures and Water Management

COVID-19 PREVENTION MEASURES

We are very conscious of the impacts of our water management on business operations, communities and the environment. We identify potential collective risks in the water basin in which we operate, such as droughts and water supply shortages, and consider how SPRC can respond. We are continuously looking for ways to reduce our water requirements and use water more efficiently.

We apply the 3Rs to Water Management approach. The Water Management Focus Area Team is responsible for overseeing delivery of this plan, including raw water and Wastewater.

Initiatives

• Water treatment system improvement

• Recycling outfall water

• Reducing Blowdown rate

• Steam turbine efficiency rate

WATER MANAGEMENT

Please find more information in https://www.sprc.co.th/en/sustainability/SitePages/Sustainabilityreport.aspx

Set up internal disinfectant TeamExercise confirmed case scenario in

control room

Training of the new comers

Acrylic screen at the canteen

Social Distancing

100% Body Temperature scan

Disinfectant protocol Emergency Response Exercise – Level 5

PPE Guideline for COVID-19

Online Weekly Self-declaration

https://www.sprc.co.th/en/sustainability/SitePages/Sustainabilityreport.aspx


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Water Management

Reduce the water consumption to reduce the impact on the environment and surrounding communities. “Our goal is exploring other opportunities to be a zero raw water consumer.”

Waste Management

The “3Rs” philosophy – Recycle, Reuse or Recycle is the key concept used for waste management. “Our goal is to reduce our landfill waste.”

Spill Prevention and Response

Integrate spill prevention into all aspects of operations and maintenance procedures and activities. “We believe that oil & chemical spills are preventable.”

Air Quality

We drive improvement through daily monitoring and operational control using a Continuous Emissions Monitoring System (CEMS).

Climate Change

Proactively gear our operations toward reducing greenhouse gas intensity to ensure minimum impact on the environment and surrounding communities.

Safety

We strongly believe that an Incident and Injury Free organization is achievable and, through Incident and Injury Free principle, we have succeeded in creating an organizational culture and environment with world-class safety, reliability and performance to set the “Global Standard for Safety and Operational Excellence”.

Meeting Community’s Expectation

Our employees are engaged to participate in a variety of community development programs and mutual participation going forward. “Our goal is to become a widely respected corporate citizen and strengthen our relationship with the surrounding communities.”

People

The combination of people performance excellence and well-being aims to ultimately yield high business performance for sustainability to “Set the Standard in Thailand as the Employer of Choice”

Being Supplier of Choice

Commit to exceeding customer expectations by consistently delivering fit-for-purpose products of superior quality with no supply interruptions and availability when needed. Our goal is to “Set the Standard as Supplier of Choice in Thailand”

9 FOCUS AREAS

Sustainable Development

Please find more information in https://www.sprc.co.th/en/sustainability/SitePages/SPRC-Sustainability.aspx

https://www.sprc.co.th/en/sustainability/SitePages/SPRC-Sustainability.aspx


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CUSTOMERS(1)DISTRIBUTION(1)REFINERYCRUDE SUPPLY

REFINERY

Capacity: 175 KBDSingle point mooring system 265,000 DWT

Power Generation Facilities41 MW

VLCCUp to 265,000 DWT

PANAMAXUp to 80,000 DWT Marine terminal

CRUDE

Capacity: 4.9 M

barrels

PRODUCT

Capacity: 4.0 M

barrels

PIPELINE

▪ Supply to north, north east of Thailand and Indochina export market

VESSEL

▪ Dispatch to both domestic and export markets at Main Pier

▪ LPG Pier

DOMESTIC

EXPORT

Middle East, 80%

Far East, 2%

Domestic, 16%

Others, 1%

SOURCES OF CRUDEFOR 2Q20

81%

19%

▪ Pipeline connects Map Ta Phut, Sriracha & Bangkok

▪ Connections to petrochemical customers

TRUCK

40%

10%

50%

(1) Based on 2Q20 data

Business overview


32

A brief history


33

CRUDE OIL

NATURAL GAS

REFINERY

POWER AND STEAM

PRODUCTS

SPMS

MARINE TERMINAL

1

2

3

4

5 LPG

JET

GASOLINE

DIESEL

FUEL OIL

ASPHALT

HVGO

PROPYLENE

OTHERS

7

6

8

FEEDSTOCK TECHNICAL & OPERATING OFFTAKE

SPR

C B

USI

NES

SK

EY A

GR

EEM

ENTS

New Feedstock Supply Agreement(1)

Single Point Mooring System Operating Agreement

Natural Gas Sales Contract for Cogeneration and Natural Gas Sales Contract for Petroleum Product Manufacturing Process

1

2

3

Marine Services Transportation Agreement

Technical Services Agreement and License Agreement

4

5

Amended Offtake Agreement(1)

Propylene Sale Agreement

Intermediate Products Exchange Agreement

6

7

8

COUNTERPARTIESCOUNTERPARTIESCOUNTERPARTIES

(1) Effective upon the first day of trading of SPRC’s shares on the SET

Key contractual arrangements


34

SPRC Crude Capacity

175 KBD

Naphtha Hydrotreating Unit (NHTU)

20 KBD

Crude Distillation Unit (CDU)

175 KBD

Vacuum Distillation Unit (VDU)

65 KBD

Continuous Catalytic Regeneration

Reformer (CCR) 19 KBD

Residue Fluidized Catalytic

Cracking Unit (RFCCU) 42 KBD

Heavy Vacuum Gas Oil

Hydrotreating Unit (HVGO HTU) 35

KBD

Whole Cat Naphtha Hydrotreating

(WCN) 28 KBD

Jet Merox Unit

(JMU) 20 KBD

Diesel Hydrotreating Unit

(DHTU) 69.4 KBD

Benzene Saturation Unit (BSU)

15 KBD

LPG

Chemical Naphtha

Mogas

PGP

Jet

Diesel

Fuel Oil

Asphalt

EDC = 1,177 KBD

UEDC 30 KBD UEDC 98 KBD

EDC 252 KBD

EDC 132 KBD

EDC 20 KBD

UEDC 58 KBDUEDC 378 KBDUEDC 76 KBD

EDC 84 KBD

Refinery complexity


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BLIP (Bottom Line Improvement Program)

Energy Management

• Energy roadmap with monthly and yearly targets

• Energy AOS every 2 years

Margin Improvement

People Efficiency and Waste Management

Oil Loss Control

• Lean sigma

• Cost leadership

• Data reconciliation

• Yearly Innovation Quest (IQ) and Asset Optimization Studies (AOS)

• Monthly core team meeting

• Rigorous benefit tracking

BLIP

Despite a challenging margin environment, SPRC continues to drive incremental margin improvement through BLIP

2.39

1.38 1.18

2.37

1.28 2.20

0.80 0.80

2.20

0.80

2Q19 1Q20 2Q20 6M19 6M20

Target


36

Thank You

Any queries, please contact SPRC Investor Relations

at email: [email protected]

Tel: +6638 699 887

Website: http://investor.sprc.co.th

http://investor.sprc.co.th/

Opportunity Day - sprc.listedcompany.com · Opportunity Day 2Q/2020 results 2 The information...

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