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Bangchak Mobile Application…Check - Redeem - Get many privileges easily

"Bangchak" More than giving is caring

The new Bangchak Mobile Application features a modern design. With this app, you can easily register for a Bangchak member account and redeem rewards, discounts, and privileges from top merchants using the E-coupon feature. You can also monitor oil prices, receive notifications of price changes, check your points balance and history in real-time. The app suggests privileges based on your points balance, updates you on special promotions, helps you locate Bangchak gas stations and non-oil businesses, allows you to donate points to charity, and provides emergency call services. You can also access tips, tricks, and activities through the Bangchak Application.

FAQ

Why must the oil price in Thailand reference the finished product price quoted in Singapore?

Due to Singapore being the epicenter of oil trading in the Far East. The price in Singapore is calculated from the agreement to buy and sell between buyers and sellers, both domestic and international. It is believe to be able to reflect the volume and demand of oil within the region accurately. Exports and imports (excess production quantity and demand for oil) between different countries within the region affects the change in price of the Singapore market. The amount of finished product that is bought and sold through the Singapore market will remain high, similar to other major markets; making it difficult for price manipulation between buyers and sellers to occur.

How does the volatile nature of oil price in the global market affect the company?

Oil price volatility directly affects businesses that are related oil e.g. the refinery, and marketing business.

As for the refinery, under circumstances where oil price adjusted up, this turn of event would affect the price of the oil stock, leading to the booking of increase in profit from inventory gain in the company financial statement. On the contrary, if the oil price adjusted downwards, the opposite effect (or the inventory loss) will be booked. However, actual performance of the refinery depends more on the spread between crude oil and finished product.

In terms of the marketing business, if the price were to adjust downward, this has positive effects; service station prices generally adjust slower than the declining cost, thus leading to more positive inclination of the marketing margin, so forth.

What are the methods in which BCP utilize to transport crude oil to its refinery?

Crude oil is transported into the refinery with 3 main methods of transportation utilizing, oil trucks trains, and seafaring oil tankers. Domestic sources utilize the 3 mentioned methods. Whereas imported crude oil is brought in via oil tankers to be discharged at the Sri Racha depot, which the company has leased to store crude oil, to which said crude oil is transported to the BCP refinery Chao Phraya river jetties with the use of smaller oil tankers.

What is the Refinery Transfer Price?

The Refinery Transfer Price is defined as the price that refineries offers product to oil wholesalers, it encompasses production cost, with the addition of Excise Tax, Municipal Tax, and Value Added Tax. Furthermore, various government fund levies are also included, i.e. the Oil Fund, the Energy Conservation Promotion Fund. Therefore the Refinery Transfer Price = production cost + various taxes + various fund levies.