For the first time this year, the Company’s Complex Refinery based on sophisticated hydro cracking technology was in operation year-round, after the Product Quality Improvement Project (PQI) was commercially run in late 2009 with consumption of natural gas-which is environmentally friendly and costs less-in its processes. The Company started its consumption of electricity and steam from PTT’s utility project in the second quarter of the year, thus raising the efficiency and security of its power distribution system for the refinery’s production. The year saw a net throughput of 86 thousand barrels per day, against 79.2 thousand barrels per day in 2009.

Its operating profit was higher, with a basic refining margin (exclusive of profits/losses arising from risk preventive transactions and of those arising from oil inventories) of USD5.65 per barrel, against USD 3.98 per barrel. In view of oil price volatility, fluctuation of refining margins at low levels and total regional supply still exceeding demand, the Company took assorted measures to raise its outputs and manage its refining margins to achieve the targeted revenue while taking good care of the environment.