Oil refiner Thai Oil’s base oils, lube and bitumen unit saw profit rise in the second quarter from year-earlier levels even as sales fell.Profit fell from the first three months of the year even as sales rose.Thai Lube’s earnings before interest, taxes, depreciation and amortization came to 772mn Thai Baht ($22mn) in the three months to end-June, up 5pc from Bt735mn during the same period a year earlier.Profit rose even as sales fell by 22pc.Revenue fell because of a dip in sales volumes and lower prices for the supplies.Asia Group I base oils prices in the second quarter were around 20pc lower than during the same period last year.But the premium of Group I base oils over diesel rose to close to $150/t in the second quarter, from a discount of more than $30/t during the same period a year earlier.Profit fell by 32pc from Bt1.14bn in the first three months of the year even as revenue and base oils supply rose.Profit fell as the product-to-feed margin fell to $136/t, from $172/t in the first three months of the year. The margin reflects the unit’s gross margin divided by feedstock volume.Thai Lube accounted for 6pc of Thai Oil’s total sales in the second quarter and 52pc of its net profit..Thailand’s June base oils output rises
Oil refiner Thai Oil’s base oils, lube and bitumen unit saw profit rise in the second quarter from year-earlier levels even as sales fell.Profit fell from the first three months of the year even as sales rose.Thai Lube’s earnings before interest, taxes, depreciation and amortization came to 772mn Thai Baht ($22mn) in the three months to end-June, up 5pc from Bt735mn during the same period a year earlier.Profit rose even as sales fell by 22pc.Revenue fell because of a dip in sales volumes and lower prices for the supplies.Asia Group I base oils prices in the second quarter were around 20pc lower than during the same period last year.But the premium of Group I base oils over diesel rose to close to $150/t in the second quarter, from a discount of more than $30/t during the same period a year earlier.Profit fell by 32pc from Bt1.14bn in the first three months of the year even as revenue and base oils supply rose.Profit fell as the product-to-feed margin fell to $136/t, from $172/t in the first three months of the year. The margin reflects the unit’s gross margin divided by feedstock volume.Thai Lube accounted for 6pc of Thai Oil’s total sales in the second quarter and 52pc of its net profit..Thailand’s June base oils output rises
