BANGKOK, Feb 12 (Reuters) - Thai Oil PCL, the country’s top oil refiner, on Thursday reported a net loss for the fourth quarter due to a huge fall in inventory values as global oil prices dropped and weaker margins for its paraxylene petrochemical business.
The net loss was 6.48 billion baht ($198.29 million) for the October-December quarter, lower than the 6.6 billion baht loss forecast by seven analysts polled by Reuters. This compared with a revised profit of 10 million baht a year earlier.
For the whole 2014, the refiner posted a net loss of 4.03 billion baht versus a profit of 9.3 billion baht the year before.
$1 = 32.6800 Thai Baht Reporting by Khettiya Jittapong; Editing by Mark Potter