Bangkok, SPRC refrains from paying dividends for 2023 due to a net loss of USD 34 million. Stock losses resulting from conflicts in the Middle East and the Chinese economy Mr. Robert Dobrik, Chief Executive Officer and Director of Star Petroleum Refining Public Company Limited or SPRC, revealed that in 2023 the company had a net loss of 34 million US dollars, compared to 2022 which had a profit. Net was $222 million. The market refining margin, excluding stock gains/losses, in 2023 is at USD 4.39 per barrel. This is down from 2022's US$9.64 per barrel. For operating results for the 4th quarter of 2023, the company had a net loss of 130 million US dollars. This compares to the previous quarter's net profit of US$120 million. The main factor is loss from oil stocks. The price difference between refined oil and crude oil decreased. and shutdowns for maintenance of refinery production units The drop in oil prices is a result of conflicts in the Middle East and the Red Sea. coupled with concerns about the econo mic slowdown in China Resulting in a loss from oil stocks in this quarter. The market refining margin is US$1.80 per barrel. Decreased from the previous quarter which was 8.36 US dollars per barrel. This is due to the decrease in the price difference between refined oil and crude oil and the maintenance shutdown of production units from October to early November. on the same day The Company's Board of Directors Meeting No. 1/2024 resolved to refrain from paying dividends for the operating results for the period 1 January 2023 to 31 December 2023 due to the Company There is a net loss. Robert Dobrik said: 2023 will be challenging for SPRC, but we remain committed to improving our production reliability. By creating value through the acquisition of marketing and fuel businesses. as well as seeking additional opportunities to add value to shareholders By leveraging the company's strategic value chain capabilities Source: Thai News Agency