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Thai Oil slips to Q4 net loss on weak oil prices
February 12, 2015 / 11:22 AM / 3 years ago

Thai Oil slips to Q4 net loss on weak oil prices

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

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