Thai refiners’ 2014 utilization rates drop

摘要

Singapore-Thai refiners’ overall utilization rate slipped to an average 87% in 2014 from 90% a year earlier due to maintenance shutdowns, while the fall in crude prices resulted in invento- ry losses which hit gross margins significantly. “Robust refining margins [were] offset by huge inventory losses,” Thaioil, the country’s largest refiner, said in an analyst presentation on February 26.