Policy and Marketing GC’s strategy is to source low-cost feedstock from domestic and overseas sources, prioritizing domestic crude oil due to maximum cost benefits and new overseas sources that yield high economic returns, such as Brazil, Indonesia, and Vietnam. Petroleum products are sold primarily domestically and to highvalue markets, such as the CLMV countries, which consist of Cambodia, Laos, Myanmar, and Vietnam. GC is also the first company in Thailand equipped to produce and distribute EURO 5 diesel, which meets the quality standards to be enforced by the government starting from 2024 onwards. In addition, GC collaborates with PTT Group to seek opportunities to source crude oil to enhance its competitiveness and to distribute petroleum products at higher prices to satisfy the market demand. Petroleum Product Usage Light Distillate Liquefied Petroleum Gas (LPG) Fuel Petrochemical feedstock (Olefins plants) Light Naphtha Gasoline blending component Petrochemical feedstock (Olefins plants) Reformate Gasoline blending component Petrochemical feedstock (Aromatics plants) Middle Distillate Jet Fuel Aviation fuel Diesel Fuel for industrial and transport sectors Heavy Distillate Fuel Oil Fuel for industrial sector and maritime transport In 2023, GC sold approximately 62 million barrels of petroleum products from its refinery, which increased from 2022, driven by the absence of turnarounds. The primary product was diesel, almost 100% of which was sold domestically, accounting for a 24% market share of the domestic sales. GC’s main customer was PTT Oil and Retail Business Public Company Limited (OR), which has long-term purchase agreements with the Company. GC has plans to increase the domestic sales of distillates to accommodate rising demand and increase exports to CLMV to grow its marketing base continuously in the future. 45 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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