Skip to main content August 2015 Investor Presentation – Thai Oil Public Company Limited | Shale Experts
Loading...
Pm

August 2015 Investor Presentation – Thai Oil Public Company Limited

Thai Oil Public Company Limited · Aug 25, 2015 · 50 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 1
    Thai Oil Public Company Limited Opportunity Day 24 Aug 2015 Time : 9.00 - 10.00 AM Venue : Stock Exchange of Thailand
  2. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 2
    -3- Corporate Vision, Mission and Values A LEADING FULLY INTEGRATED REFINING & PETROCHEMICAL VISION COMPANY IN ASIA PACIFIC To be in top quartile on performance and return on investment To create a high-performance…
  3. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 3
    -4- Corporate Governance Policy Roles and Responsibilities for Corporate Governance Policy Stakeholders The board of directors, management Truthfully report companys situation and and all staff shall commit to moral future trends…
  4. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 4
    -5- Presentation Agenda Q2/15 KEY HIGHLIGHTS Q2/15 PERFORMANCE ANALYSIS Q4-15 & 1H-16 MARKET OUTLOOK
  5. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 5
    -6- Q2/15 KEY HIGHLIGHTS
  6. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 6
    -7- Q2/15 Key Industry Highlights Refinery Implication 7/bbl rose in Dubai crude price from lower 2.5 /bbl inventory gain Non-OPEC production & stronger than expected (from stock loss 1.5 /bbl oil demand in Q1/15 ) Seasonally low…
  7. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 7
    -8- Q2/15 Key Operation and Financial Highlights Operation / Financial Highlights TOP Group Net Profit Unit : million THB (MB) Utilization Maximized refinery Net Operating Profit (before tax) Stock G/(L) (before tax) Rate run and…
  8. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 8
    Project Update -9- Key Project Progress Update : LAB Project Detail Progress TPX JV with Mitsui (75% : 25%) 98%* Upgrade existing Benzene and Kerosene into higher Linear Alkyl valued product; LAB which is an intermediate feedstock…
  9. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 9
    Project Update -10- Key Project Progress Update : 2 SPPs Project Detail Progress Low risk power business enhance income stability 91%* Support reliability of electricity & steam supply for TOP Group TOP SPP Develop 2 new SPP power…
  10. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 10
    -11- Q2/15 PERFORMANCE ANALYSIS
  11. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 11
    -12- Thailand Leading Refinery : Superior Utilization/ Commercial Total Thailand crude refining capacity 1,241 kbd1 TOPs Refinery Utilization vs Industry4 Thai Oil 22% Share Fang Nameplate Capacity TOP Refinery Overall Industry…
  12. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 12
    Refining -13- Q2/15: Healthy GRM & Stock GainRobust Earnings Dubai Crude Price & Key Petroleum Product Spreads Refinery Utilization 2014 2015 2014 Q1/15 Q2/15 1H/15 /bbl Q1 Q2 Q3 Q4 Q1 Q2 1H Q3TD* FY14 106% 107% 107% DUBAI (DB)…
  13. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 13
    Aromatics -14- Q2/15: Improved Aromatics Margins & Higher Production Aromatics Spreads and Margins Aromatics Production 2014 2015 2014 Q1/15 Q2/15 1H/15 /ton Q1 Q2 Q3 Q4 Q1 Q2 1H Q3TD ** FY14 66% 84% 75% PX*-ULG95 273 220 371…
  14. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 14
    Lube Base Oil -15- Q2/15: Improved Lube Margins from Strong Demand Base Oil & Bitumen Spreads & Margins Base oil Production 2014 2015 2014 Q1/15 Q2/15 1H/15 /ton Q1 Q2 Q3 Q4 Q1 Q2 1H Q3TD* FY14 79% 88% 84% 500SN-HSFO 486 501 500…
  15. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 15
    Financial -16- Integrated Margin & Competitive Cash Cost Gross Refining Margin Refinerys Cash Cost (Unit: US/bbl) (Unit: US/bbl) Marketing GRM Accounting GRM (Marketing GRM + Stock G/L) Operating Cost Interest Expense (excl.…
  16. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 16
    Performance Breakdown -17- Q2/15: Performance Breakdown Utilization/Production (%) & Net Profit (million THB) Key Points TOP: max run to capture strong ***74% holding GRM TPX/TLB: increased run due to higher price and demand…
  17. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 17
    Financial -18- Strong Financial Performance Statements of Financial Position Consolidated Long-Term Debt as at 30 Jun 15 1) (Unit: million THB) Total Long-Term Debt Net Debt 193,607 198,327 70,518 million THB 31,954 million THB…
  18. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 18
    -19- Q4-15 & 1H-16 MARKET OUTLOOK Crude Oil Petroleum Products Aromatics Base Oil & Bitumen
  19. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 19
    -20- CRUDE OIL
  20. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 20
    Refinery -21- Crude Prices Under Pressure Until Q4-15 and Gradually Recover in 1H-16 Dubai Price Movement /BBL Shale Oil Boom Greek Debt Default 120 Dramatic Declines in Iranian Oil Exports to Chinas Stock 100 Oil Rigs & CAPEX Cuts…
  21. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 21
    Refinery -22- Crude Prices Under Pressure Until Q4-15 1 Slowing Chinese Economic Growth 2 Concerns over Rising Irans Oil Exports A Stock Market Crash and Yuan Devaluation A Irans Supply to Rise by 500-700 KBD by 1H-16 Stock Index…
  22. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 22
    Refinery -23- Crude Prices to Recover in 1H-16: 3 Decelerated Non-OPEC Oil Supply Growth A Declined U.S. Oil Rig Count B Slowing U.S. Shale Production Growth U.S. Oil Rig Counts vs. WTI MBD US Shale Production Oil Rigs USD/BBL 6…
  23. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 23
    Refinery -24- Crude Prices to Recover in 1H-16: 4 Solid Oil Demand Bolstered by Lower Oil Prices A World Oil Demand and Supply B Demand Growth over 1 MBD in 2016 World s Demand Growth by Region (YoY) MBD Non-OPEC supply MBD 98…
  24. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 24
    -25- PETROLEUM PRODUCTS
  25. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 25
    Refinery -26- Recovered Refinery Margin in Q4-15 Supported by Strong Gasoline Demand and Winter Season Singapore Cracking GRM (/BBL) Chinese Winter New Year Strong Gasoline Margin demand End of winter season Q1/15: 8.6/BBL…
  26. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 26
    Refinery -27- Healthy Gasoline Market on Strong Demand and 1 U.S. Supply Outages A AP Gasoline Demand B AP Gasoline Demand Growth MBD % YoY China India Philippines Malaysia Total AP 7.0 Low oil Australias Ramadan Driving Season…
  27. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 27
    Refinery -28- Recovering Middle Dist. and Fuel Oil cracks in Q4/15 2 On Improved Demand and Tighter Supplies A Improving Demand during Winter B Tighter Supplies as MTA* & Run Cuts AP Gasoil Demand (MBD) Global Refinery Maintenance…
  28. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 28
    -29- AROMATICS
  29. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 29
    Aromatics -30- Stable Aromatics Market in Q4-15 on Rising BZ Demand Aromatics Market PX-ULG95 (/TON) BZ-ULG95 (/TON) 371 326 280 273 269 286 252 255 246 254 221 229 207 126 101 116 2Q14 Y2014 1Q14 3Q14 4Q14…
  30. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 30
    Aromatics -31- Sustains PX Market in Q4-15 on Rising PX Demand 1 Leading to Improving Operating Rate Improving AP Demand in Q4-15 A AP PX Plant Turnaround Supports PX Price B Encourages PX Market 0.8 MTA Jurong and Mil ton/month…
  31. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 31
    Aromatics -32- Upward Trend of U.S. BZ and SM Demand 2 Stimulates Market in Q4-15 A Open Arbitrage Window from Asia to U.S. B Firm AP SM P2F Sustains BZ Demand /TON BZ US Gulf - BZ FOB Korea /TON SM P2F 300 300 278 243 250 250…
  32. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 32
    -33- BASE OIL & BITUMEN
  33. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 33
    Base Oil & Bitumen -34- Softer Base Oil Spread in Q4-15 on Stronger Fuel Oil Crack Base Oil Market Base Oil Benchmark Spread (/TON) Gr.II-Gr.I Price Difference /TON 512 80 495 486 501 499 492 369 399 60 40 20 0 Y2014…
  34. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 34
    Base Oil & Bitumen -35- Softer Bitumen Spread in Q4-15 on Stronger Fuel Oil Crack Bitumen Market Bitumen Benchmark Spread (/TON) Domestic Bitumen Demand KTA Average Demand Growth in 2011-2015: 6% p.a. 85 70 1000 23 20 800 -32…
  35. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 35
    -36- CONCLUSION
  36. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 36
    Conclusion -37- Q4-15 and 1H-16 Market Outlook Conclusion Q4-15 1H-16 Improved product Recovered margins as Refinery spreads from winter demand outpaces demand refinery additions Firm Aromatics spread Stable Aromatics Spread…
  37. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 37
    -38- Thank You Any queries, please contact: at email: irthaioilgroup.com Tel: 662-797-2999 / 662-797-2961 Fax: 662-797-2976
  38. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 38
    -39- APPENDIX World GRM / Inventories Thailand petroleum demand by products Strategic Investment Plan
  39. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 39
    World GRM -40- Asian Margin Vs. US-EU margin 97.6% 60.7% 54.6% Total Capacity: 17.0 MBD Total Capacity: 4.9 MBD Total Capacity: 17.5 MBD Source: EIA, Norwegian Energy, Thai Oil
  40. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 40
    Inventories -41- Crude Inventory Source: Norwegian Energy
  41. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 41
    Inventories -42- Global Distillate Inventory Source: Norwegian Energy
  42. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 42
    Inventories -43- Fuel Oil Inventory Source: Norwegian Energy
  43. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 43
    China Export -44- Chinas Product Export Source: Norwegian Energy
  44. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 44
    -45- Domestic LPG Demand Thailand LPG Demand LPG Demand Highlight In first half of 2015, LPG demand fell steeply by 7.4%YoY on account of lower usages in cooking, transportation and petrochemical sectors. Most of the decline…
  45. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 45
    -46- Domestic Gasoline Demand Thailand Gasoline Demand GASOLINE Demand Highlight In first half of 2015, Mogas demand jumped sharply by 14.1% from the same period last year to an average 25.78 mml/day. This was mainly due to a…
  46. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 46
    -47- Domestic Jet Demand Thailand JET-A1 Demand JET Demand Highlight In first half of 2015, Jet consumption increased significantly by 8.1% over the corresponding period last year mainly owning to reviving tourism sector. The…
  47. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 47
    -48- Domestic Gasoil and NGV Demand Thailand Gasoil Demand Diesel Demand Highlight In first half of 2015, Diesel demand rose gradually by 2.5% YoY as relatively low retail prices boosted the consumption amidst strong agricultural…
  48. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 48
    -49- Domestic Fuel Oil Demand Thailand Fuel Oil Demand FUEL OIL Demand Highlight In first half of 2015, Fuel Oil consumption dropped significantly by 7.1% from a year earlier as a result of lower maintenance day of natural gas…
  49. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 49
    Updated CAPEX plan -50- Strategic Investment Plan CAPEX Plan (Unit US million) Remaining capital investment Our CAPEX Projects COD Total Project investments will Cost 2014 2015 2016 2017 2018 cover improvements Refinery upgrading…
  50. August 2015 Investor Presentation – Thai Oil Public Company Limited – slide 50
    -51- Thank You Any queries, please contact: at email: irthaioilgroup.com Tel: 662-797-2999 / 662-797-2961 Fax: 662-797-2976

From the store

Browse maps, data & reports in the Shale Experts store