Annual Eppo 2554

EPPO final P.1-10.indd 1 12/27/55 BE 11:11 AM

2 5 5 42 3 4 5 61

2 E n e r g y P o l i c y a n d P l a n n i n g O ffi f i c e

2554

1.2

2553 30.2

(.)

.

.

2554

.

.

(LPG)

(NGV)

.

90

20

.

.


3 1

.


2 5 5 42 3 4 5 61


Thailand relies on imported energy, of which the

volume has grown continuously. In 2011, the country

spent a total of 1.2 trillion baht on energy imports,

an increase of 30.2% from the value registered in

2010. Realizing that the countrys economy cannot

avoid impacts of the fluctuation of energy price in the

world market, Energy Policy and Planning Office works

to develop policies and measures to administer the

countrys energy affairs.

The government has set a framework and direction

of the countrys energy policy which focuses on energy

security to ensure national energy independence and

stability by encouraging energy development, and energy

price control to ensure that the domestic energy price is

suitable and fair for consumers in all sectors. The price

must also reflect the real cost. The policy also aims to

promote production, consumption, and research and

development of renewable and alternative energy.

Fullscale energy conservation is another area that

receives a strong push by the government policy.

As a key function under Ministry of Energy, Energy

Policy and Planning Office (EPPO) takes responsibility

for giving advice and formulating policies and measures

to drive the countrys energy development. EPPO is

also in charge of translating the government policies

into actions to ensure sufficient availability of energy

and energy efficiency, which should well respond to the

countrys situation amid the energy price fluctuation in

the world market.

EPPO regularly makes its performance on energy

affairs known in its annual report. This issue of annual

report features the performance of the 2011 fiscal

year. This is considered another channel to reveal the

governments information to the public, stakeholders,

and those who are EPPOs contacts. The information

also demonstrates good governance in the manage-ment of energy affairs and integration of policies, plans,

and measures involving energy affairs, i.e. petroleum,

electricity, renewable energy, and energy conservation,

to make sure that they are driven towards the same

direction. Part of EPPOs performance last year involved

some essential and urgent tasks to soften the effects

of the rapidly increasing energy price on the public.

This was in line with the governments urgent policy

to cushion impacts of the high oil price as well as its

attempts to solve the LPG and NGV problems in the

transport sector.

In addition to those urgent issues, other vital

energy policies and measures were carried out. This

includes promotion of the use of gasohol, reduction

Message from DirectorGeneralEnergy Policy and Planning Office


5 1

of electricity charge for households with power

consumption not exceeding 90 units per month,

improvement of measures supporting electricity

generation from renewable energy, review and

formulation of Thailand Power Development Plan

to enhance national energy security in response

to the countrys situation. In this regard, EPPO

is in charge of the search and development

of energy and electricity sources both within and

beyond the countrys border. EPPOs responsibilities also

include the formulation of the 20Year Energy Efficiency

Development Plan and promotion of the development

of renewable energy and energy conservation, e.g.

promotion of biogas technology, as well as some

other social contribution activities. Moreover, EPPO

has arranged for the integration of information and

cooperation among government agencies in charge

of the promotion of energy conservation in order to

highten awareness of energy saving and energy

efficiency in all sectors.

On behalf of the management of EPPO, I would

like to thank all staff for their efforts and dedication in

turning energy policies into real practice for the benefit

of the country and the people. I also wish to pass on

my gratitude to the various agencies both in the public

and private sectors and all related organizations both

in and outside the country for their cooperation in

complying with the policies and measures related to

energy affairs. This includes the good cooperation

that EPPO always receives in mitigating impacts of the

fluctuation of energy price in the world market. Similarly,

I would like to thank all the Thai people for realizing

the need to use energy efficiently, which is important

for the countrys energy stability and sustainability.

I strongly hope that the implementation of all policies

and measures will be successful and will help enhance

the national energy security; the need for energy

imports could thus be reduced. This will consequently

result in the lower trade deficit and inflation caused

by the higher production cost, which is a key factor

to drive the countrys economy to achieve growth and

sustainable development while raising the peoples

standard of living and livelihood.

Most importantly, I would like to take this

opportunity to express my sincere gratitude for the

support from all parties continuously offered to EPPO.

Mr. Suthep Liumsirijarern

DirectorGeneral

Energy Policy and Planning Office


2 5 5 42 3 4 5 61


/ Message from DirectorGeneral 2

1/ Part 1 / Organization overview 11

/ Vision, mission, and strategic issues 12

/ 13

Values and corporate culture

/ 14

Management members

/ Organizational structure 20

/ Workforce structure of Energy Policy and Planning Office 21

2 / Part 2 2554 2555 / 23

Energy overview for 2011 and outlook for 2012

3 / Part 3 2554 / Fuel price in 2011 57

4 / Part 4 2554 / 2011 outstanding performance 77

1. .. 2554 / 78

Performance assessed against the performance contract for fiscal year 2011

Content


7 1

2. 89

/

Strategic Map of EPPO and Linkage with The Government's Energy Policies

/

Main policies under the Energy Policy & Planning Office (EPPO)

/ Petroleum

1. / 93

Allevation of impact of high oil price on the society

2. (LPG) / Solutions to LPG problem 95

3. NGV / NGV price policy 97

4. / Promotion of Gasohol 98

/ Electricity

1. 90 / / 99

Measures to reduce electricity charge for households with electricity consumption

not exceeding 90 units per month

2. / 100

Improvement of measures for promoting power generation from renewable energy

Feed in Tariff / 101

Progress of studying the Feed in Tariff measure

/ Energy Conservation

20 (.. 2554 2573) /

20Year Energy Efficiency Development Plan (2011 2030) 105


2 5 5 42 3 4 5 61


2554 /

Implementation outcomes of the Energy Policy 2011

/ Petroleum

1. (NG) / 110

A review of natural gas pricing structure (NG)

2. (LPG) / 114

Increase in the capacity for import, distribution and transport system of liquefied

petroleum gas (LPG)

3. LPG / 117

LPG supply from local refineries to substitute for imports

/ Electricity

1. .. 2553 2573 / 119

Thailand's Power Development Plan 2010 2030

2. / 121

Power purchase from neighbouring countries

3. / 122

Proposals of Electricity Generating Authority of Thailand (EGAT) under

Ministry of Energy

4. / 124

Promotion of Power Generation from Renewable Energy


9 1

5. (SPP) Cogeneration / 131

The electricity purchase from SPPs using the cogeneration system

6. / 133

The policy on power price structure

7. / 136

The Emergency Plan for Electricity Crisis

/

Energy conservation and renewable energy

1. / The Biogas Technology Promotion 139

2554 / 139

The project on biogas technology promotion for 2011

/ 141

The project on biogas technology promotion from food waste in prisons

1 / 142

The project on biogas technology promotion in chicken farms, phase 1

2. / 143

Creative Social and Energy Promotion Activities

5 / Part 5 2554 / 157

Financial report and note to the financial report 2011

6 / Part 6 .. 2540 / 179

Results of the Implementation of Official Information Act B.E. 2540


Vision,mission,andstrategicissues Valuesandcorporateculture Managementmembers Organizationstructureandworkforce

1/Part 1Organization overview

EPPO final P.11-22.indd 11 12/27/55 BE 1:25 PM

2 5 5 42 3 4 5 61


6

1.

2.

3.

4.

5.

6.

5

1

2

3

4

5

(Strengthening EPPO)

Vision The Energy Policy and Planning Office

(EPPO) is apivotal agency in the formulationand administration of energy policies and planning for thenationalsustainability.

Mission EPPO is entrusted with the following six missions:

1. Recommend energy pol ic ies and integrate/review energymanagement plans of the

country;

2. Recommendnationalstrategiesforenergy conservationandalternativeenergypromotion;

3. Recommendmeasurestosolveandprevent oilshortageinbothshortandlongterms;

4. Supervise, monitor and evaluate the effectivenessofnationalenergypolicyandenergy

managementplans;

5. Administertheinformationandcommuni-cationtechnology(ICT)withregardtoenergyissues ofthecountry;and

6. Enhance EPPO to become a strategic organization.

Strategic Issues InordertopursuetheforegoingVisionand Mission,fivestrategiesarelaiddown:

Strategy 1: Formulate energy policies and administerenergyplanningofthecountry;

Strategy 2: Promoteanddevelopalternativeenergyandcleanenergy;

Strategy 3: Promote and develop energyconservationandefficientuseofenergyinallsocial

segments;

Strategy 4: Develop the national energy informationandcommunicationtechnology(ICT);and

Strategy 5: StrengtheningEPPOtobecome anorganizationofexcellenceinenergyadministration.


13 1

(.)

"

The Energy Policy and PlanningOffice (EPPO) has established the following organi-zational core valuesandculturewitha view

tosettingabenchmarkofdutyexecutionand

creatingtheunityamongitspersonnel,which

isuniquetotheoffice,forgovernmentofficials

andotherstaffmemberstocontinuallyadhere

toasguidelinesontheirdutyexecutionandto

effectivelytranslatethemintopracticalactions

soastofosterandsustaintheorganizational

cultureofhighqualityperformance:

EXCELLENCE, PARTNERSHIP,

PUBLIC INTEREST, OWNERSHIP EPPO

Values and corporate culture

Excellence

Partnership

PublicInterest

Ownership

Underlyingtheeffectivenessofdutyexecution,includingperformancedevelopment toexcellencewhichrespondstothegoalsandmissionoftheorganization.

(Network)

Emphasizingstrategicpartnership incollaborationwithvarioustasksnetworks soastosuccessfullyachievethedesignatedgoals.

Focusingondutyexecutionforthebenefitsandinresponsetotheneedsofthe

generalpublic.

Givingimportancetoteamwork,concertedefforts,unityandsharedaccountability

fortheoutcomesofdutyexecution.


2 5 5 42 3 4 5 61


1.

Mr.SuthepLiumsirijarern

DirectorGeneral

EnergyPolicyandPlanningOffice

Management members

3.

Mr.SamerjaiSuksumek

DeputyDirectorGeneral


2.

Mr.NatieTabmanie




15 1

5.

Ms.ChanananBuakhiew

Specialist,EnergyConservationandRenewable

EnergyPolicyandPlan

4.

Specialist,EnergyStrategyPlanning

6.

Ms.DowtipVanichanont

DirectorofAdministrativeSystemDevelopmentGroup


2 5 5 42 3 4 5 61


7.

Ms.SomsriKitcharoenwong

DirectorofInternalAuditGroup

9.

Ms.ChirapapornLaima

DirectorofEnergyPolicyandPlanningDivision

8.

Mrs.PattamavadeeJerangsawatti

DirectorofGeneralAdministrationBureau


17 1

10.

Mrs.EmornCheepsumol

DirectorofEnergyForecastandInformation

TechnologyCenter

12.

DirectorofPowerPolicyBureau

11.

Mr.SuchaleeSumamal

DirectorofPetroleumandPetrochemicalPolicyBureau


2 5 5 42 3 4 5 61


(122549172554)

Mr.VirapholJirapraditkul

DirectorGeneral

(12December200617March2011)

(24282554)

Mr.BoonsongKerdklang

InspectorGeneralofMinistryofEnergy

ActingDirectorGeneral,


(24March28April2011)

(19255032555)

Mr.ChavalitPichalai


(19March20073January2012)

(1255332554) Mr.SupanSangthong


(1November20103March2011)

2554Management members in the 2011 fiscal year

13.

Mr.SittichodWantawin

DirectorofEnergyConservationandRenewable

EnergyPolicyBureau


19 1


2 5 5 42 3 4 5 61


Internal Audit Group

Organizational structure

DirectorGeneral

Deputy DirectorGeneral

Chief Change Officer: CCO

Chief Gender Equality Officer; CGEO

Specialist, Energy Strategy Planning

Administrative System Development Group

Energy Policy and

Planning Division

General Affairs Unit

Energy Strategy Development Group

Energy Strategy Management Group

Monitoring and Evaluation Group


Personnel

Management Group

Coordination and

Public Relations

Group

Finance Group

Energy Fund Group


Petroleum Pricing

Group

Petroleum Business

Group

Petrochemical

Industry Group


Power Tariff and

Service Quality

Group

Power Industry

Competition

Promotion Group

Power Supply

Planning Group


Energy Information

Technology Develop

ment Group

Energy Analysis and

Forecast Group

Computer System

Development Group


Energy Conservation

Group

Renewable Energy

Group

Capacity Building and

Public Communication

on Energy Conservation

Group

Energy Conservation and

Renewable Energy

Policy Bureau

General

Administrative

Bureau

Petroleum and

Petrochemical Policy

Bureau

Power Policy

Bureau

Energy Forecast

and Information Technology Center

Specialist, Energy Conservation and

Renewable Energy Policy and Plan

Deputy DirectorGeneral

Chief Information Officer: CIO

Chief Knowledge Officer; CKO

232555

Dataasof23April2012


21 1

Workforce structure of Energy Policy and Planning Office

2554 166

9010

41 25

The Energy Policy and Planning Office is

committed to developing stable and sustainable energy for the country. Being committed to the

aforementioned obligation, it is necessary to

be wellequipped with knowledge and sufficient personnel. In 2011, the total number of person-nel was 166, divided into 90 civil servants, 10 permanentstaff,41governmentalemployees,and25

temporarystaff. Inprinciple,thehumanresources must be sufficiently and effectively distributed to

leadtheorganizationtowardssuccess,asstatedin

theorganizationmission.


2 5 5 42 3 4 5 61


: / unit : person

No.

Organization

Civil

servant

Permanent

staff

Governmental

employee

Temporary

staff Total

1 CentralManagement

5 5

2 AdministrativeSystem

DevelopmentGroup

2 2 4

3 InternalAuditGroup

2 1 1 4

4 GeneralAdministration

Bureau

22 10 16 22 70

5 EnergyPolicyand PlanningDivision

12 3 1 16

6

EnergyForecastand InformationTechnology Center

10 3 13

7 PetroleumandPetrochemical PolicyBureau

13 7 20

8 PowerPolicyBureau

11 6 17

9 EnergyConservationand

RenewableEnergyPolicy

Bureau

13 3 1 17

Total

90 10 41 25 166

232555

Dataasof23May2012


23 1

2/Part 2 2554 2555Energy overview for 2011 and outlook for 2012


2 5 5 42 3 4 5 61


2554 2555

(.)

25540.1 3.2

Energy overview for 2011 and outlook for 2012

ThailandsGDPgrowthratein2011,asreported

byNationalEconomicandSocialDevelopmentBoard

(NESDB),wasat0.1%.Duringthefirstthreequarters,

theGDPgrowthratewas3.2%;despitetheimpactof

JapaneseearthquakeandtsunamiincidentsinMarch

onThailandsindustrialsectorinthesecondquarter,

theeconomycouldberecoveredinthethirdquarter.

Unfortunately,attheendofthethirdquarterand

throughoutthefourthquarteroftheyear,Thailand

hadtofaceadisastrousfloodsituationwhichheavily affectedthemanufacturingsector,bothagriculturaland

industrialsectors,especiallytheindustrialestates inPhraNakhonSiAyutthayaandPathumThani provincesincludingthetourist industry.These

factorsgreatlyaffectedtheoverallenergydemand

ofthecountrywhichcanbesummarizedasfollows.

Consumption, Production and Import of Primary Commercial Energy

: / Unit: KBD of crude oil equivalent

2553

20102554

20112553 / 2010 2554 / 2011

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Consumption1,783 1,845 1,780 1,807 1,765 1,780 1,868 1,890 1,858 1,763

Production989 1,018 979 1,002 987 990 1,051 1,012 1,034 977

()

Import(Net)1,001 1,017 991 1,082 916 1,015 1,040 1,097 1,031 903

/(%)

Import/Consumption(%)56 55 56 60 52 57 56 58 55 51


25 2

2553

20102554

2011

2553 / 2010 2554 / 2011

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

(%)

Growth Rate (%)

Consumption7.2 3.5 10.4 6.7 6.9 5.2 5.0 4.6 5.3 1.0

Production10.6 2.9 10.0 11.2 12.4 8.6 7.4 1.0 4.8 1.3

()

Import(Net)8.5 1.6 11.0 13.4 2.7 12.7 5.0 1.4 12.6 11.0

GDP (%) 7.8 0.1 12.0 9.2 6.6 3.8 3.2 2.7 3.7 9.0

2554 3.52553

1,845

44 3.3

373.3

3.4

3.848.5

. 2

6152554 2554

(LNG)

2554

Primary Energy Consumption. Thetotalprimary

energyconsumptionin2011increasedby3.5%from thatin2010,beingatalevelof1,845thousand barrelsperday(KBD)ofcrudeoilequivalent.Naturalgas accountedforthelargestshareoftheconsumption,

i.e.44%,accountingforanincreaseof3.3%.Oil consumptionwasthesecondlargest,holdingashareof 37%,oranincreaseof3.3%.Theconsumptionof importedcoaldecreasedmoderatelyby3.4%,butlignite

increasedby3.8%.Asforhydropowerandimported

electricity,thedemandsharplyroseby48.5%dueto

increasedgenerationbyhydropowerplantsaswell

asadditionalpowerpurchasefromLaoPDR.Import

of615MWofelectricityfromNamNgum2projectin

LaoPDRcommencedinMarch2011tocompensate

naturalgassupplyshortageduringtheendofJuneto

earlyAugust2011,causedbyleakageofthenatural gastransmissionpipelineintheGulfofThailand. Furthermore,aroundyearend,therewasplentiful supplyofwaterindomesticdamreservoirsresulting

fromtheoccurrenceoffivestormsaltogetherpassing bythecountry.Inaddition,Thailandfirstimported liquefiednaturalgas(LNG)inMay2011.


2 5 5 42 3 4 5 61


Growth Rate of Primary Commercial Energy Consumption

:

Unit : KBD of crude oil equivalent

2553

20102554

20112553 / 2010 2554 / 2011

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Total Consumption1,783 1,845 1,780 1,807 1,765 1,783 1,868 1,890 1,858 1,763

Oil652 674 681 643 629 658 689 681 663 662

NaturalGas784 810 750 793 796 798 817 847 817 761

Coal211 204 209 227 216 195 208 209 214 186

Lignite99 102 98 103 92 102 109 109 101 90

/

Hydro/ImportedElec.36 54 43 42 32 28 45 44 62 63

Q1 Q2 Q3 Q4

2010 Q1 Q2 Q3 Q4

2011

211815129630

369

1215

(%)

GDP

/

Oil Natural Gas Coal/Lignite


27 2

Consumption of Primary Commercial Energy

:

Unit: KBD of crude oil equivalent

2,0001,800

1,600

1,4001,2001,000

800

600

400200

0

/Hydro/Imported Electricity

/Coal/Lignite

Natural Gas

Oil

3%

17%

44%

36%

2551 2552 2553 2554

66%

Domestic

79%Domestic

Domestic 15%

Import 21%

Domestic 34%

Import 34%

2008 2009 2010 2011

Import

66%

Import

85%

25542553138,807(1,810,871 1,946,678)7.7 / 10.4,42.11.7

2.6

0.4

Expenditure on Energy. In2011,atotalof

THB1,946.68billionwasspentonenergyconsump-tion,anincreaseofTHB138.81billionor7.7%when

comparedwithTHB1,810.88billionin2010.Thevalue

ofoilconsumptionincreasedby10.4%andthatof

naturalgasandlignite/coalincreasedby42.1%and 1.7%respectively;whilethatofrenewableenergyand electricitydroppedby2.6%and0.4%.

Consumption

Oil

Natural Gas

/

Coal/Lignite

Electricity

Total

(%)

Growth Rate (%)3.3 3.3 0.8 48.5 3.5


2 5 5 42 3 4 5 61


2554Expenditure on Final Energy Consumption in 2011

/

Million Baht

1,200,000

1,000,000

800,000

600,000

400,000

200,000

0

1,946,678

Total Expenditure on Final Energy Consumption: THB 1,946.68 billion

PetroleumProductsElectricityNaturalGasLignite/CoalRenewableEnergy

2554

1,237,3362553950,300

287,036

30.2 79

2.

2554 (LNG) 2554 NGV

Value of Energy Imports. The total energy importin2011wasworthTHB1,237.34billion,increasing byTHB287.04billionor30.2%fromTHB950.30 billionin2010.Thevalueofcrudeoilimportaccounted

forthelargestshareof79%;itsimportvalueincreased

duetopricehikesintheworldmarketresultingfrom

internalunrestofmanyoilproducingcountries.The

valueofelectricityimportincreasedinaccordancewith

theincreasedvolumeofpowerpurchasefromanew

supplyresource,i.e.NamNgum2DaminLaoPDR,

startinginMarch2011.Similarly,thevalueofnatural

gasimportsalsoincreasedduetotheLNGimports,

startinginMay2011,foruseasfuelinthepower generationsectorandinthetransportationsector(asNGV).

Petroleum

Products

Electricity

Natural Gas

/

Lignite/Coal

Renewable

Energy

Total

(%)

Growth Rate (%)10.4 0.4 42.1 1.7 2.6 7.7


29 2

Value of Energy Import

1,200,000

1,000,000

800,000

600,000

400,000

200,000

0

2551255225532554

2554

1,237,336

+L

NG

1,000,000

800,000

600,000

400,000

200,000

0

2008200920102011

MillionBaht

Total Value of Energy Import : THB 1,237.33 billion

ValueofEnergyImport

Crud

e Oil

Coal

Electr

icity

Petro

leum

Produ

cts

Natur

al Ga

s

Year 2011

2554

321,3092553262,058

59,251

22.6

318,17223.3

Value of Energy Exports. In2011,thetotalvalueofenergyexportwasTHB321.31billion,increasingby

THB59.25billionor22.6%fromTHB262.06billionin

2010.Theexportsofcrudeoilandpetroleumproducts

wereworthTHB318.17billionintotal,oranincrease

of23.3%.

Crude Oil

Petroleum

Products

+LNG

Natural Gas

Coal

Electricity

Total

(%)

Growth Rate (%)30.1 41.1 10.7 7.6 69.9 30.2

Million Baht


2 5 5 42 3 4 5 61


2554Value of Energy Export in 2011

Million Baht

CrudeOilPetroleumProductsElectricity

Crude Oil

Petroleum Products

Electricity

Total

(%)

Growth Rate (%)52.9 20.0 23.2 22.6

300,000

250,000

200,000

150,000

100,000

50,000

0

321,309

Total Value of Energy Export: THB 321.31 billion

2554 7942.7 30.1977,374 38.730.72

79.472553

110.192554

ENERGY SITUATION BY ENERGY TYPE

Crude Oil. Crudeoilimportsin2011wasatarate of794KBD,decreasingby2.7%;however,theimports

valueincreasedtoTHB977.37billion,oranincreaseof

30.1%,asthecrudeoilpricehadincreasedby38.7%

orUS$30.72abarrel,fromanaverageimportprice

atUS$79.47abarrelin2010toUS$110.19abarrel in2011.


31 2

2.7%Crude Oil Import Decreased by 2.7%

25502007

25512008

25522009

25532010

25542011

(%)

Growth Rate (%)

25522009

25532010

25542011

(/)

Quantity (KBD) 804 812 803 816 794 1.0 1.6 2.7

($US/)

Average Price ($US/barrel)70.54 101.44 61.90 79.47 110.19 39.0 28.4 38.7

()

Value (Billion THB) 716 1,003 623 751 977 37.9 20.6 30.1

2554

25533.4

LPG( )3.8,7.77.7 1.1 6.0

Petroleum Products. Comparedwith2010,the

totalpetroleumproductconsumptionin2011increased

by3.4%.Thedemandfordieselincreasedby3.8%; jetpetroleumdemandincreasedby7.7%;andLPG demand(excludingtheuseinthepetrochemicalindustry) increasedatthehighestrateof7.7%.However, thedemandforgasolineandfueloilwasdownby1.1%

and6.0%respectively.


2 5 5 42 3 4 5 61


Petroleum Product Consumption

: / Unit: KBD

Product

25512008

2552

2009

2553

20102554

2011

(%)

Growth Rate (%)

25512008

25522009

25532010

25542011

Gasoline122 130 128 126 2.9 5.6 1.4 1.1

91

Regular 91 74 74 78 85 8.4 0.4 5.0 9.4

Premium 48 56 50 41 7.0 15.0 10.0 17.6

-

- Gasohol 42 53 49 40 62.5 23.8 7.3 16.8

- 95

- ULG 95 6 3 1 0.7 69.1 48.0 56.7 45.6

Kerosene0.3 0.3 0.3 0.2 13.7 12.5 13.5 14.9

Diesel303 318 318 331 5.7 4.6 0.1 3.8

Jet Petroleum 80 76 81 87 5.9 4.4 6.3 7.7

Fuel Oil 56 47 45 42 22.1 16.9 4.2 6.0

LPG** 117 119 131 141 17.4 0.9 10.0 7.7

TOTAL679 690 704 728 3.6 1.3 1.9 3.4

**LPGFeedstocks

**Excluding LPG use as feedstock in the petrochemical industry


33 2

Monthly Gasoline Consumption

Million Litres/Day

2222212120201919181817

22212019

18

17

..

..

..

.

.

.

.

..

..

..

..

..

.

.

..

2554/

..50

..

..

..

..51

..

..

..

..52

..

..

..

..53

..

..

..

..54

..

..

..

Jan07

Apr07

Jul0

7

Oct0

7

Jan08

Apr08

Jul0

8

Oct0

8

Jan09

Apr09

Jul0

9

Oct0

9

Jan10

Apr10

Jul10

Oct10

Jan11

Apr11

Jul11

Oct11

Jan

Feb

Mar Apr

May Jun Jul

Aug

Sep

Oct

Nov Dec

Flood Impact

2011

25502007

25512008

25522009

25532010

25542011

20.1Ave. 20.1

19.5Ave. 19.5

20.6Ave. 20.6

20.3Ave. 20.3

20.1Ave. 20.1

MillionLitres/Day

2554

12620.1

1.12553 NGV 6791 914225 3395

95 132

Gasoline Theaverageconsumptionof gasolinein2011wasatalevelof126KBDor20.1million litresperday,adecreaseof1.1%comparedwiththat

in2010.Thevolumeofgasolineconsumptionduring

OctoberNovember2011droppedtothelowestlevel

intheyearduetotheimpactofdomesticfloodcrisis, alongwiththeswitchtoNGVbyanumberofcarusers. Regulargasolineconsumptionaccountedforashare of67%whichcanbefurtherdividedinto:42%octane 91gasoline(Gasoline91orULG91)and25%octane 91gasohol(Gasohol91)andpremiumgasoline consumptionaccountedfortheremaining33%further dividedinto:1%octane95gasoline(Gasoline95or

ULG95)and32%octane95gasohol(Gasohol95).


2 5 5 42 3 4 5 61


2554

Growth Rate in 2011

Growth (%)..

Jan

.

Feb

..

Mar

..

Apr

..

May

..

Jun..

Jul

..

Aug

..

Sep

..

Oct

..

Nov

..

Dec

....

JanDec

53 54

Compared with

corresponding

period in 2010

4.3 0.8 0.8 1.7 2.0 0.9 3.8 2.3 1.0 6.6 12.1 1.0 1.2

54

Compared with

previous month

5.0 4.5 6.8 3.8 4.2 5.3 4.8 3.4 1.9 7.5 0.2 14.6

2554

58

12.02553

11.53.9

272554

9591 8.027.17

312554

Gasohol Ofthetotalgasolineconsumptionin2011,gasoholaccountedforthelargestshare,i.e.

58%.Thedemandvolume,however,decreasedfrom

12.0millionlitresperdayin2010to11.5millionlitresper

daythisyear,ora3.9%decrease,duetotheimpact offloodcrisisandalsothegovernmentmeasure suspendingthecollectionofcontributionstotheOilFund toalleviateconsumersburden,effectiveon27August

2011,resultinginretailpricereductionforGasoline95

by8.02BahtperlitreandGasoline91by7.17Baht perlitre.Thus,asfromAugust,alargenumberof

consumersturnedtousegasolineinsteadofgasohol.

Although,on31August2011,theratesofcontribution

toandsubsidyfromtheOilFundwerereviewedand

adjustedtoincreasethepricegapbetweengasoline

andgasohol,thenewpriceswerenotattractiveenough

toinduceconsumerstousegasoholasbefore.


35 2

Monthly Gasohol Consumption

Million Litres/Day

2554

Growth Rate in 2011

Growth (%)..

Jan

.

Feb

..

Mar

..

Apr

..

May

..

Jun..

Jul

..

Aug

..

Sep

..

Oct

..

Nov

..

Dec

....

JanDec

53 54

Compared with

corresponding

period in 2010

5.5 5.0 6.0 7.8 8.3 5.3 2.4 0.8 16.0 25.2 30.3 14.0 3.9

54

Compared with

previous month

3.7 4.4 4.8 5.2 4.0 3.7 2.4 3.8 16.5 12.4 2.0 27.8

91

14

12

10

8

6

4

2

Government promotion of Gasohol 91 application to motorcycles

95 (E10) 25545.8121.2

7.37

9595(E10)

9.91

4.72

In2011,thedemandforGasohol95(E10)wasat

5.81millionlitresperday,decreasedby21.2%from7.37 millionlitresperdayin2010.Theaveragepricegap betweenGasoline95andGasohol95(E10)was

9.91BahtperlitrebeforeAugustandthenadjusted

to4.72BahtperlitreafterAugust.

Jan07

Apr07

Jul0

7

Oct0

7

Jan08

Apr08

Jul0

8

Oct0

8

Jan09

Apr09

Jul0

9

Oct0

9

Jan10

Apr10

Jul10

Oct10

Jan11

Apr11

Jul11

Oct11

25502007

4.8Ave. 4.8

25522009

12.2Ave. 12.2

25512008

9.2Ave. 9.2

25532010

12.0Ave. 12.0

25542011

11.5Ave. 11.5

Contribution rates of ULG95 & ULG91 to the Oil Fund reducedby the government and Flood impact at year end

95 91

Demand increased due to much lower price than gasoline


2 5 5 42 3 4 5 61


95 (E10) Monthly Gasohol 95 (E10) Consumption

2554

Growth Rate in 2011

Growth (%)..

Jan

.

Feb

..

Mar

..

Apr

..

May

..

Jun..

Jul

..

Aug

..

Sep

..

Oct

..

Nov

..

Dec

....

JanDec

53 54

Compared with

corresponding

period in 2010

7.8 8.3 8.3 7.2 8.1 10.9 14.7 16.9 40.9 48.6 49.8 33.3 21.2

54

Compared with

previous month

6.2 2.7 7.7 3.4 5.8 3.4 4.1 5.4 29.1 15.2 2.2 33.5

9125545.1019.92553

4.25

9191(E10) 7.12 3.02

AsforGasohol91,thedemandin2011wasat 5.10millionlitresperday,increasedby19.9%from thatin2010,whichwasat4.25millionlitresperday. TheaveragepricegapbetweenGasoline91and Gasohol91(E10)was7.12BahtperlitrebeforeAugust

and3.02BahtperlitreafterAugust.

..

..

..

..

..

..

..

..

..

..

..

..

JulFebJan AugMar SepApr OctMay NovJun Dec

9

8

7

6

5

4

3

2

8765432

/ 2554

95 91

Year 2011

Contribution rates of ULG95 & ULG91 to the Oil Fund reduced by the government and Flood impact at year end

MillionLitres/Day

Million Litres/Day

.

.50

Jan07

..

Apr

..

Jul

.

.Oct

.

.51

Jan08

..

Apr

..

Jul

.

.Oct

.

.52

Jan09

..

Apr

..

Jul

.

.Oct

.

.53

Jan10

..

Apr

..

Jul

.

.Oct

.

.54

Jan11

..

Apr

..

Jul

.

.Oct

25512008

25522009

25532010

4.16Ave. 4.16

6.66Ave. 6.66

20.1Ave. 20.1

7.37Ave. 7.37

5.81Ave. 5.81

25502007

25542011


37 2

91 (E10) Monthly Gasohol 91 (E10) Consumption

2554

Growth Rate in 2011

Growth (%)..

Jan

.

Feb

..

Mar

..

Apr

..

May

..

Jun..

Jul

..

Aug

..

Sep

..

Oct

..

Nov

..

Dec

....

JanDec

53 54

Compared with

corresponding

period in 2010

26.8 25.0 25.7 27.4 29.8 27.1 24.8 23.9 17.9 7.5 2.9 9.7 19.9

54

Compared with

previous month

0.4 5.9 1.3 6.8 2.2 4.2 1.0 2.6 3.9 10.0 4.3 21.4

255495

(E20)8302553 54295(E85)

1038

Attheendof2011,theexpansionofGasohol

95(E20)servicestationnetworkwasexpectedtoreach

830stations,increasingfromonly542stationsin

2010,andthatofGasohol95(E85)servicestations,to

38stationsfromonly10stationsinthepreviousyear.

Million Litres/Day

6

5

4

3

2

1

0

2554

6

5

4

3

2.

..

..

..

..

..

..

..

..

..

..

..

.


/

95 91

Contribution rates of ULG95 & ULG91 to the Oil Fund reduced by the government and Flood impact at year end

Year 2011

MillionLitres/Day

.

.50

Jan07

..

Apr

..

Jul

.

.Oct

.

.51

Jan08

..

Apr

..

Jul

.

.Oct

.

.52

Jan09

..

Apr

..

Jul

.

.Oct

.

.53

Jan10

..

Apr

..

Jul

.

.Oct

.

.54

Jan11

..

Apr

..

Jul

.

.Oct

0.67Ave. 0.67

2.52Ave. 2.52

3.88Ave. 3.88

4.25Ave. 4.25

4.25Ave. 4.25

25502007

25512008

25522009

25532010

25542011


2 5 5 42 3 4 5 61


255452.63.9

29.99 2554

272554 3.00

2554

2554 2554 12554 100 35 22554 5

Diesel In2011,dieselconsumptionwasat

anaverageof52.6millionlitresperday,anincrease

of3.9%,astheretailpriceofdieselhadbeenfixed

at29.99Bahtperlitrebythegovernmentsincethe

beginningoftheyear;moreover,thegovernments reliefmeasuresuspendingcontributioncollectiontothe

OilFund,effectivesince27August2011,resultedina

furtherreductionofretaildieselpriceby3.00Bahtper

litre,whichinducedgreateruseofdiesel.Inaddition,

duringthefloodcrisis,particularlyfromNovemberto

December2011,dieselconsumptionhighlyincreased

asitwasusedforpumpingwateroutandpushingits

flowincriticallyfloodedareas.

Withregardtobiodiesel,sinceearly2011the

blendingratioofbiodiesel(B100)inhighspeeddiesel

(HSD)hadbeenadjustedseveraltimes.Earlyinthe

year,therewasaproblemofcrudepalmoilshort-age,makingitnecessarytoreducetheratioofB100

blendinginHSDfromformerlyavailabletwogrades

with3%and5%ofB100blendingtoonlyonegrade

with2%B100blending,effectivesince1February

2011,andsincemid2011,biodieselhasbeenrevised

touseonlyonegrade,comparedtoseveralgrades

inthepast,butnotover5%.Thispolicypurposedto allocateascarcityofpalmoilwhenitisoutofseason.


39 2

Monthly Diesel Consumption

2554

Growth Rate in 2011

Growth (%)..

Jan

.

Feb

..

Mar

..

Apr

..

May

..

Jun..

Jul

..

Aug

..

Sep

..

Oct

..

Nov

..

Dec

....

JanDec

53 54

Compared with

corresponding

period in 2010

3.7 3.5 1.0 7.1 6.2 6.5 0.3 7.3 6.9 4.5 0.6 7.5 3.9

54

Compared with

previous month

2.5 1.8 3.2 0.5 1.6 1.6 8.4 1.0 0.9 3.3 8.4 10.2

60

55

50

45

40

35

2550

51.12007

Ave. 51.1

2551

48.22008

Ave. 48.2

2552

50.62009

Ave. 50.6

2553

50.62010

Ave. 50.6

2554

52.62011

Ave. 52.6

..50

..

..

..

..51

..

..

..

..52

..

..

..

..53

..

..

..

..54

..

..

..

Jan07

Apr

Jul

Oct

Jan08

Apr

Jul

Oct

Jan09

Apr

Jul

Oct

Jan10 Apr

Jul

Oct

Jan11

Apr

Jul

Oct

Million Litres/Day 2554

/

60

55

50

45

40

..

..

..

..

..

..

..

..

..

..

..

..


Year 2011MillionLitres/Day

Demand increased due to start of harvest and tourist

season rising demand for water pumping during the flood

Demand dropped due to end of harvest time


2 5 5 42 3 4 5 61


LPG 2554

35.018.9 255315.9 39

9.1 36 34.213

35.3

LPG11.20

10

7.8

LPG

13

42554

2192554

12554

LPG, Propane and Butane Thedemandof

theseproductsin2011wasat35.0millionlitresper

day,anincreaseof15.9%from2010.Thehousehold

consumptionaccountedforthelargestshareofthe

totaldemand,i.e.39%,withagrowthrateof9.1%.Next

toitwastheuseasfeedstockinthepetrochemical

industry,holdingashareof36%,growingby34.2%.

Theuseasfuelforvehiclesaccountedforashareof

13%,growingby35.3%resultingfromthestabilization

ofLPGpriceforthetransportationsectoratalow

level,i.e.11.20Bahtperlitre.Onthecontrary,theuse

intheindustrialsectoraccountedforashareof10%,

decreasingby7.8%becausethegovernmenthadseta

policytoincreasetheretailLPGpriceforthissectorto

reflecttheactualcost.Thepriceincreasewillbemade

quarterly,at3Bahtperkgperquarter,forfourtimes

altogether;in2011thepriceadjustmentweremade

twicethefirsttimeon19July2011andthesecond

oneon1October2011.


41 2

LPG

LPG, Propane and Butane Demand

2554

Demand in 2011

Household

Industry

Automobile

Petrochemical

Own Use

Total

()

Demand Volume

(Million Litres/Day)

35.0 13.5 3.6 12.5 1.8 35.0

(%)

Growth Rate (%) 9.1 7.8 35.3 34.2 38.5 15.9

353025201510502551255225532554

24.426.5

30.335.0

/ Own Use

3%

23%

16%14%

44%

5%4%

30%

12%13%

41% 39%

10%13%

36%

2%

36%

13% 10%

39%

2%

28%

13%11%

43%

2554

2008200920102011

Own Use

PetrochemicalPetrochemical

Automobile

AutomobileIndustryIndustry

Household

Household

Million Litres/DayShare in 2011


2 5 5 42 3 4 5 61


Petroleum Consumption in the Land Trans-port. In2011,thedemandvolumewasat65.5millionlitresofcrudeoilequivalentperday,accountingfor

anincreaseof5.7%comparedwiththepreviousyear.

Dieselconsumptionheldthelargestshareof58%;

nexttoitwastheconsumptionforgasoline,NGVand LPGasfuelforvehicles,holdingashareof27%, 10%and5%respectively.

TheuseofLPGasfuelforvehiclesremarkably increasedby35.3%astheLPGpriceforthetrans-portationsectorwasfixedat11.20Bahtperlitre.As

attheendof2011,theaccumulatednumberofLPG vehicles, includingdualfuelvehiclesusingLPG togetherwithgasolineordiesel,increasedfrom666,155

unitsin2010to832,882unitsandthenumberofLPG refuelingstationsnationwidewas1,037.

NGV(orCNG)demandincreasedatahighrate

of27.5%duetothegovernmentpolicypromotingNGV

utilization,byfixingNGVpriceat8.50Bahtperkgas

anincentive,inducinganumberofvehicleownersto

havetheirenginesmodifiedtorunonNGV.Moreover,

automobilecompaniesstartedmanufacturingmany

modelsofNGV(orCNG)vehicleswhicharenowon

themarket.Asattheendof2011,theaccumulated

numberofNGVvehicleswasexpectedtoreach300,581

units,increasingfrom225,668unitsin2010,whichwill

helpreducegasolineanddieseldemandby16.4%and

5.1%respectively.ThenumberofNGVservicestations

nationwidewas469,increasingfrom428stationsin

2010ofthis,236stationsareinBangkokandits

vicinitiesand233stationsinotherprovinces.

2554

65.52553

5.7 5827 LPGNGV 510

LPG35.3

LPG 11.202554

LPGLPG

832,8822553666,155

LPG1,037

NGV27.5 NGVNGV 8.50

NGV

CNG2554 NGV300,581 2553225,668

16.45.1

NGV

4282553469

236 233


43 2

Petroleum Consumption in the Land Transport

Million Litres/Day of

2551 2552 2553 2554 2008 2009 2010 2011

25544,1432553

4,039

2.6

(LPG)33.0

6

800

25532554

(NGV)19.2

27.5 9.3

Natural Gas Consumption. In2011,thedemand

fornaturalgaswasatalevelof4,143millionstandard

cubicfeetperday(MMSCFD),increasingby2.6%from

4,039MMSCFDin2010.Theuseofnaturalgasas

feedstockinthepetrochemicalindustryandothers

increasedby33.0%astheGasSeparationPlant(GSP)

Unit6,withageneratingcapacityof800MMSCFD,

cameonstreamattheendof2010andhadrunona

commercialscalethroughouttheyear2011.Naturalgas

demandintheindustrialsectorandforuseasfuelfor

vehicles(NGV)increasedby19.2%and27.5%respec-tively,whilethedemandforpowergenerationdropped

by9.3%duetothedecreaseinpowerdemandthisyear.

70

60

50

40

30

20

10

0

Crude oil equivalent

NGV 10%LPG 5%

58%

27%

Share

Diesel

Gasoline

(%)

Growth Rate (%)

Gasoline

DieselLPG NGV

Total

2552 / 2009 5.7 5.6 14.1 85.2 7.7

2553 / 2010 1.4 0.5 2.1 26.6 0.9

2554 / 2011 1.1 3.1 34.5 26.9 5.7


2 5 5 42 3 4 5 61


Natural Gas Consumption by Sector

2550 2551 2552 2553 2554 2007 2008 2009 2010 2011

(%)

Growth Rate (%) NGV

2552 / 2009 0.2 2.5 6.9 84.2 3.2

2553 / 2010 12.0 8.9 23.5 26.8 13.3

2554 / 2011 9.3 33.0 19.2 27.5 2.6

Lignite/Coal Consumption. In2011,lignite/ coalconsumptiontotaled35milliontonnes,decreasing

by1.1%fromthepreviousyear(basedontheheating

value),dividedintoconsumptionofligniteat19million

tonnesandimportedcoalat16milliontonnes.Ofthe

totalligniteconsumption,17milliontonneswasused

forpowergenerationbyEGAT;theremaining2million

tonneswasmainlyusedforcementmanufacturing.

4,000

3,000

2,000

1,000

0

MMSCFD

/ 35

25542553()1.1

16

19.

172

/ ShareNGV 5%

/ Industry 14%

/ GSP 21%

60%Power Generation


45 2

255431,447

255330,920

527

48(IPP)

(SPP) 38,77

(GrossPeakLoad) 24255414.00. 24,518Peak2553

24,630112 0.52554

.2554162,343

25530.8

67/19

75

1

2554148,855 0.3

7

460.3

2.7 1.311.5

Electricity

Installed Capacity. Thailandsinstalledcapacity

in2011wasat31,447MW,anincreaseof527MWfrom

30,920MWin2010.TheElectricityGeneratingAuthority

ofThailand(EGAT)heldthelargestshareof48%.Next

toitwasIndependentPowerProducers(IPP),holding

ashareof38%;thenSmallPowerProducers(SPP),

7%;andpowerpurchasefromforeignsources,7%. Gross Peak Load. Thepeakloadoccurredon

Tuesday,24May2011,at14.00hrs,reaching24,518

MWwhichwas112MWlowerthanthe2010peak

load(24,630MW),oradecreaseof0.5%,because

inearly2011theweatherwasstillcold,coupledwith

earlyrainfallinsummer,makingthetemperaturein

thepastsummerlowerthanthatinthepreviousyear.

Power Generation. Theamountofpowergen-eration,togetherwithpowerpurchasebyEGAT,in2011

totaled162,343gigawatthour(GWh),decreasingby 0.8%comparedwiththatin2010.Theshareofindividual fueltypesusedforpowergenerationwasasfollows:

naturalgas,67%;lignite/coal,19%;importedelectricity,

7%;hydropower,5%;oil,1%;andrenewableenergy,1%. Power Demand. In2011,powerdemandtotaled

148,855GWh,adecreaseof0.3%fromthatin2010

becauseoflingeringcoldweatheratthebeginningof theyearandmorethanusualrainfallinThailand, coupledwiththeimpactoftheearthquakeandtsunami incidentsinJapanontheindustrialandcommercial

sectorsinThailand.Moreover,attheendofthe

year,thedomesticfloodcrisisbadlyaffectedseven industrialestatesinPhraNakhonSiAyutthayaandPathum

Thaniprovinces,creatingconsiderableimpactonthe industrial,householdandagriculturalsectors.Power

demandintheindustrialsector(holdingthelargest

shareof46%ofthetotaldemand)increasedby0.3%

inthecommercial,increasedby2.7%andthatinthe


2 5 5 42 3 4 5 61


2554Power Demand in 2011

Overall DemandQ1 Q2 Q3 Q4

()

Demand Volume (GWh)35,817 38,319 39,579 35,140 148,855

(%)

Growth Rate (%) 0.1 1.7 3.6 3.1 0.3

2554

44,1951.9

5.5

0.8

2554102,9470.5

0.20.8

11.5

householdandagriculturalsectorsalsodecreasedby

1.3%and11.5%respectively.Thailandspowerdemand

canbedividedintothedemandinmetropolitanareas

andthatinprovincialareas,asdetailedbelow.

Metropolitan Areas Thetotaldemandin2011

was44,195GWh,adecreaseof1.9%.Powerconsumption

inthehouseholdsectordecreasedby5.5%andthatin

thecommercial&industrialsectordecreasedby0.8%. Provincial Areas The total demand in 2011was102,947GWh,anincreaseof0.5%.Power consumptioninthecommercial&industrialsector

slightlyincreasedby0.2%,andthatinthehousehold sectorincreasedby0.8%,whiletheconsumptionin

theagriculturalsectordecreasedby11.5%.

Direct customerEGAT

1,713 GWh1%

MEA44,195 GWh

30%

PEA102,947 GWh

69%

Total: 148,855 GWh


47 2

Power Demand by Sector. Powerdemandof

eachmajorclusterintheindustrialandcommercial

sectorinthefirstthreequartersof2011wasonarising trend.DespitetheimpactofJapanesedisasterson

Thailandinthesecondquarter,thedemandrebounded

inthethirdquarter.However,inthelastquarter, Thailandwasbadlyshatteredbythedomesticflood

crisis,whichcausedshutdownsofanumberof industrial factoriesandbusinesses,particularly electronics,automobile,textileandplastic,asthey

areintheindustrialestateslocatedinfloodaffected

areas,henceasubstantialdecreaseinpowerdemand. Inaddition,majorbusiness,suchashotels,retailshops

andconstructionbusiness,hadtoshutdownduring

thatperiodaswellduetotheflood.Moreover,some

foreigncountriesissuedawarningtotheircitizensto

avoidtravellingtoThailandduringtheflooding.

The Automatic Tariff Adjustment Mechanism

(Ft). In2011,thenewpowertariffstructurewasputinto

effect,startinginthemonthofJuly2011,resultingin

severalrevisionsoftheFtchargeasfollows:

Thefirstrevision:fortheroundofJanuary

April2011,theFtratewasat0.8688Bahtperunit,

decreasingby0.0567Bahtperunit.

Thesecondrevision:fortheroundofMay

August2011,theFtratewasat0.9581Bahtperunit,

increasingby0.0893Bahtperunit.

Thethirdrevision:fortheroundofSeptember

December2011,theFtratewasat0.06Bahtperunit,

resultingfromthepowertariffstructurereformthe

FtratefortheroundofMayAugust2011,i.e.0.9581 Bahtperunit,wasincludedintheretailpowertariff structurewhichhasbeeninusesinceOctober2005.

TheFtrateturnedouttobeaminusfigurebecause

thecallbackmoneyfromthethreePowerutilities,

astheirinvestmentsduring20082010couldnotbe

2554

2554

2554

1:2554 86.885.67

2:255495.818.93

3:2554 6.00

255495.81

2548

25512553 6


2 5 5 42 3 4 5 61


2555

(.)2555

5.56.5

2554

1051102554

106.03

2555

2555

1,937

25544.8

3.3

7.4LNG

NGV/2.8

2554/ 1.9

materializedasplanned,wasusedasFtreduction

forpowerconsumersforaperiodofsixmonths.

TREND OF ENERGY SITUATION IN 2012

Accordingtotheeconomicforecastmadeby

theNationalEconomicandSocialDevelopmentBoard

(NESDB),itisexpectedthattheGDPgrowthratein2012

willbearound5.56.5%,givensuchmajordriving

forcesasgovernmentexpendituresandinvestments

aswellasaccelerationofinvestmentinrehabilitation

programstorecoverbusinessesaffectedbytheflood

duringtheendof2011,includingtheaveragecrudeoil

priceinthisyear,projectedtobeinarangeofUS$

105110abarrel,whichishigherthanUS$106.03 abarrelin2011.TheEnergyPolicyandPlanningOffice

(EPPO)has,therefore,developedaforecastofenergy

demandbasedontheforegoingassumptions.The

trendofenergysituationin2012canbesummarized

asfollows.

Primary Commercial Energy Demand. The demandin2012isforecasttobeatalevelof1,937

KBDofcrudeoilequivalent, increasingby4.8% comparedwiththatin2011.Oildemandwillincreaseby

3.3%,andnaturalgasdemandwillincreaseby7.4% (resultingfromgrowingdemandforimportedLNGfor

powergenerationandNGV).Demandforlignite/coal

willgrowby2.8%asGHECOOneIPPcoalfiredpower

planthasbeenonstreamsincetheendof2011,while

demandforhydropower/importedelectricitywillgrow

by1.9%.


49 2

Forecast of Primary Commercial Energy Demand

: / Unit: KBD of crude oil equivalent

2550 2007

25512008

25522009

25532010

25542011

2555f

2012f

Demand1,604 1,618 1,663 1,783 1,845 1,937

Oil 667 634 643 652 674 696

NaturalGas 615 648 682 784 810 870

/

Lignite/Coal 279 301 303 310 306 316

/

Hydro/ImportedElec. 43 36 35 36 54 55

(%)

GrowthRate(%)

Demand 3.8 0.9 2.8 7.2 3.5 4.8

Oil 1.0 5.0 1.4 1.5 3.3 3.3

NaturalGas 6.2 5.4 5.2 15.0 3.3 7.4

/

Lignite/Coal 12.8 7.7 0.7 2.4 1.1 2.8

/

Hydro/ImportedElec. 2.5 17.4 1.1 2.8 48.5 1.9

f

f:Forecastdata


2 5 5 42 3 4 5 61


Petroleum Products. In2012,demandforoverallgasolineisprojectedtoincreaseonlyslightly

by0.9%becausegasoholdemandisexpectedtobe

increasingwhilethedistributionofGasoline91willbe

abolishedasfrom1October2012onwardspursuantto

thegovernmentpolicy.Dieseldemandwillincreaseby

2.9%moderatelyandJetpetroleumwillincrease4.8%

astourismisbeingrecoveredafterthefloodimpact

lastyear.LPGdemandisexpectedtoincreaseby11.2%

becausetheuseinthehouseholdandtransportation sectorswillstillbegrowing,althoughthedemandinthe industrialsectortendstodrop.Fueloildemand,how-ever,isforecasttodecreaseby17.6%asitsutilization

intheindustrialsectorandforpowergenerationispro-jectedtodecrease.Hence,theoverallannualdemand

ofpetroleumproductsisforecasttoincreaseby3.3%.

Forecast of Petroleum Product Demand

: / Unit: Million Litres

Product Type

25502007

25512008

25522009

25532010

25542011

2555f

2012f

(%)

Growth Rate (%)

25532010

25542011

2555f

2012f

/ Gasoline 7,337 7,121 7,524 7,417 7,332 7,398 1.4 1.1 0.9

/ Diesel 18,710 17,643 18,465 18,480 19,192 19,749 0.1 3.8 2.9

/Jet Petroleum 4,932 4,637 4,432 4,712 5,076 5,302 6.3 7.7 4.8

/ Fuel Oil 4,222 3,287 2,731 2,615 2,456 2,024 4.2 6.0 17.6

LPG* 5,812 6,828 6,894 7,587 8,178 9,094 10.0 7.7 11.2

/ Total 41,013 39,516 40,046 40,811 42,235 43,585 1.9 3.4 3.3

* LPG Feed stocks

*Excluding LPG use as feedstock in the petrochemical industry

f / Forecast data

2555 0.9 91 1

2555 2.9

4.8 LPG 11.2

17.6

3.3


51 2

LPG, Propane and Butane Thedemandof

theseproductsin2012isestimatedtoreach7,961

thousandtonnes,accountingforanincreaseof16.3%,

resultingfromincreasingdemandinthehousehold

sectorandthepetrochemicalindustry.Thehousehold

demandwillincreaseby8.2%,whichisstillconsidered

ahighrate,duetothegovernmentpolicyfixingtheLPG

priceforthissectoruntiltheendof2012.Theuseas

feedstockinthepetrochemicalindustryisprojectedto

highlyincreaseby35.0%,from2,419thousandtonnes

in2011to3,266thousandtonnesin2012,whereas

thedemandintheindustrialsectorisexpectedtoslow

downbecausethegovernmenthasintroducedapolicy

toquarterlyincreaseLPGpriceforindustrialuseby 3Bahtperquarter,forfourtimesaltogether.In2011,

theLPGpricewasincreasedtwicealready;in2012

theothertwopricesadjustmentwillbemadeon

1January2012and1April2012.LPGdemandinthe

transportationsectorisprojectedtoincreaseby5.8%,

butatalowergrowthratethanthatin2011asthe

governmenthasapolicytoincreaseLPGpriceforthe

transportationsectorasfrom16January2012onwards,

bygraduallyincreasingthepriceatarateof0.41Baht

perlitrepermonth(0.75Bahtperkgpermonth),for 12times.Bythismeans,theLPGpricewillincrease

from11.20Bahtperlitreto16.12Bahtperlitre.Moreover,

sincetheendof2011,thegovernmenthaslaunched

aprojectonenginemodification,freeofcharge,for

20,000LPGruntaxistoswitchtouseNGVinstead.

LPG 2555

7,961

16.3

8.2

LPG2555 35.02,41925543,266

2555

LPG 342554

225552 112555

5.82554

LPG16

25550.41 (0.75.)12

LPG11.20

16.12 LPGNGV20,000 2554


2 5 5 42 3 4 5 61


LPG Forecast of LPG, Propane and Butane Consumption, Production and Import

: / Unit : Thousand Tonnes

25502007

25512008

25522009

25532010

25542011

2555f

2012f

-

- Consumption4,116 4,788 5,208 5,943 6,890 7,961

Household1,884 2,124 2,231 2,435 2,656 2,874

Industry 611 665 593 778 718 727

Automobile 572 776 666 680 920 973

Petrochemical Feedstock 968 1,093 1,478 1,846 2,419 3,266

Own Use 81 130 240 213 131 122

-

- Production4,469 4,355 4,467 4,416 5,422 5,477

-

- Import 452 753 1,591 1,437 2,211

(%)

Growth Rate (%)

-

- Consumption 17.0 16.3 8.8 14.1 15.9 16.3

Household 9.5 12.7 5.0 9.2 9.1 8.2

Industry17.4 8.8 10.8 31.3 7.8 1.2

Automobile24.7 35.6 14.1 2.1 35.3 5.8


53 2

Natural Gas. Itisanticipatedthatnaturalgas

demandin2012willgrowby6.1%comparedwiththat

in2011.Theuseofnaturalgasforpowergeneration

willincreaseby3.1%;theuseasfeedstockinthe petrochemicalindustryandotherswillincreaseby

6.1%,andtheuseasfuelintheindustrialsector

willincreaseby9.1%.NaturalgasdemandforNGV

vehicleswillhighly increaseby31.4%duetothe

governmentpolicypromotinggreateruseofNGV,

whichincludestheprojectswitching20,000LPGrun

taxistoNGVruntaxisfreeofchargeandtheEnergy

CreditCardprojectforNGVusers,alreadylaunched

beforetheincreaseinNGVprice,starting16January 2012,atarateof0.50Bahtperkgpermonth,for12

times;hence,theNGVpricewilleventuallyincrease from8.50Bahtperkgto14.50Bahtperkg.

25502007

25512008

25522009

25532010

25542011

2555f

2012f

Petrochemical Feedstock26.2 12.9 35.2 24.9 31.0 35.0

Own Use65.3 61.8 84.2 11.5 38.5 7.2

f / Forecast data

255525546.1

3.1

6.1

9.1

NGV

31.4NGV NGVLPG 20,000NGV NGV 1625550.50 .12NGV

8.50.14.50 .

: / Unit: Thousand Tonnes


2 5 5 42 3 4 5 61


Forecast of Natural Gas Demand, by Sector

: / Unit: MMSCFD

Sector

25502007

25512008

25522009

25532010

25542011

2555f

2012f

(%)

Growth Rate (%)

25532010

25542011

2555f

2012f

Power Gen.2,346 2,423 2,435 2,728 2,476 2,553 12.0 9.3 3.1

GSP 572 583 599 652 867 920 8.9 33.0 6.1

Industry 347 361 387 478 569 621 23.5 19.2 9.1

NGV 24 77 143 181 231 304 26.8 27.5 31.4

Total3,288 3,444 3,564 4,039 4,143 4,397 13.3 2.6 6.1

:11,000

Remarks: Heating Value :1 cubic foot = 1,000 BTU

f / Forecast data


55 2

2555

5.7

4(..25552558)

2554

2555

7

2555.LNG140

(1.0)

PDP20102555

SPP(CoGen)704SPP(Renewable) 65VSPP162

29

.220

Electricity. Powerdemandin2012isforecast

toincreaseby5.7%asthegovernmenthasapolicyto

promotepublicinvestmentandexpenditurestoboost

theeconomyduringthegovernments4yearPublic

AdministrationManagementPlan(20122015),andto

accelerateinvestmentinrehabilitationprogramsto

recoverthecountryfromthedamageresultingfrom

thefloodcrisisattheendof2011.Inthefirstquarter

of2012,powerdemandinthecommercialsectorand

largescaleindustries,especiallythoseintheseven

floodaffectedindustrialestates,willbelowasthe affectedfacilitieswillnotbeabletoresumetheir operationbythen.However,fromthesecondquarter onwards,itisexpectedthattheiroperationcanresume,

whichwillresultingrowingpowerdemand.Asforpower

generation,naturalgaswillremainthemajorfuel,

comparedwithotherfuelsources.PTThasplannedto

importLNGatavolumeof140MMSCFD(1.0million tonne).Inaddition,accordingtothePDP2010,additional supplytothegridfromthefollowingpowerplantswill

beonstreamin2012:704MWfromSPPs(CoGen);

65MWfromSPPs(Renewable);and162MWfrom VSPPs.Moreover,therewillbeatotalsupplyof29

MWfromdomesticdamsand220MWwillbeimported

fromTheunHinboun(extension)projectinLaoPDR.


2 5 5 42 3 4 5 61


Forecast of Power Generation

: / Unit: Thousand Tonnes

Year

GWh

Difference

GWh

(%)

Percentage (%)

25502007

147,026 5,107 3.6

25512008

148,221 1,195 0.8

25522009

184,364 143 0.1

25532010

163,668 15,305 10.3

25542011

162,343 1,325 0.8

2555f

2012f171,597 9,254 5.7

f / Forecast data

:2555

Remark : Forecast data as in August 2012


3/Part 3 2554

Fuel price in 2011


2 5 5 42 3 4 5 61


1.

1

100.9094.53

4255316.59

9.45

Supply Disruption

(North Atlantic

Treaty Organization: NATO)

12 18

3

2

110.63 102.22

9.73

7.69

1. CRUDE OIL PRICE

The first quarter:TheaveragepricesofDubaiand

WestTexascrudewereUS$100.90perbarreland

US$94.53perbarrelrespectively.Dubaispricerose

US$16.59perbarrelwhilethatofWestTexasrose

US$9.45perbarrelfromthefourthquarterof2010. This wasmainly due to the concern over supply disruptionamongoilproducingcountriesasaresult

ofthecontinuingviolentunrestinLibya.NorthAtlantic

TreatyOrganizationagreeduponjointmilitaryopera-tionsinLibyatoprovideassistanceandprotection forLibyannationalsaccordingtoaresolutionfromthe

UnitedNations.TheUSalsodecidedtodeploytroops

toattacktheLibyangovernmenttoseektheremoval

ofColonelMuammarGaddafi.Analystspredictedthat

itwouldtakeapproximately1218monthstorestore

the oil producing infrastructure. Meanwhile, the

domesticsituationinYemenalsoaffectedcrudeoil

productionafteremployeesofforeignoilcompanies

startedtofleethecountry.Therewasalsoagrowing anxiety over the explosions at the nuclear power

plant in Japan and possible radioactive leakage. Ifthesituationbecamemoreserious,itwouldcreate a severe impact on economic recovery of Japan,

whichisthethirdlargestoilconsumerintheworld.

The second quarter :TheaveragepricesofDubai

andWestTexascrudewereatUS$110.63perbarrel

andUS$102.22perbarrel,increasingbyUS$9.73per

2554

Fuel price in 2011


59 3

JeanClaude Trichet

2.7 ( 1.4 )

5NorthDakota

(307,000/)

25542.8286,000

/

3 107.09 89.52

3.54

12.70

ReutersSurvey 255430.25

/3

2554 10.30 /

Majnoon

2554 75,000 / 400,000/2554

barrelandUS$7.69perbarrelrespectivelyfromthe

previousquarter.Thiswasmainlybecauseinvestors

wereincreasinglyconfidentaftertheGreekparliament had approved details of austeritymeasureswhile

JeanClaude Trichet, chairpersonof theEuropean

CentralBank,signaledinameetingtoraiseinterest rates. These two factors contributed to the euro appreciationagainstthedollar,luringmoreinvestors to invest in the oil market. The USA commercial

crudeoilreservesalsodecreased2.7millionbarrels (analystspredictedat1.4millionbarrels).Inaddition, theclimatechangeandfloodsalsoclosedfiveoil

production platforms in North Dakota of the USA

(withaproductioncapacityof307,000barrelsper

day).VietnamscrudeoilproductioninJune2011was

estimatedtodrop2.8%to286,000barrelsperday.

Nigerian guerrillaswho had earlier surrendered to

theirgovernmentthreatenedtoattacktheirnational

oilpipelinesincethegovernmentfailedtograntan

amnestyaspromised.

The third quarter :TheaveragepricesofDubai

andWestTexascrudewereUS$107.09perbarrel

andUS$89.52perbarrel,droppingbyUS$3.54per barrel and US$12.70 per barrel respectively from

thepreviousquarter.Thiswasaresultofconcern

over theeconomies in theUSAandEuropewhich

causedaselloffamonginvestorsinthestockand commoditymarkets.ReutersSurveyreportedOPECs

crude oil export of 30.25million barrels per day September2011thehighestratesinthreeyears

due to Iraqs export increase and Libya export

resumption.Russiascrudeoilproductionwasalso

boostedto10.30barrelsperdayinSeptember2011,

whichwasRussiashighestproductionlevelafterthe

collapseoftheUSSR.InIraq,crudeproductionfrom


2 5 5 42 3 4 5 61


4 106.50

0.59

2555

0.10/

1.1/State OilMarketingOrganization 2554 1.9

2.175/ NationalOil

Company

RasLanuf (220,000/) 1

94.07

4.55

27 (International

MonetaryFund: IMF) 1.5

EuroZone17 2554

1.6 3.8

2554 106.3295.01

28.22 15.52

theMajnoonoilfieldinAugust2011wasincreased to75,00barrelsperday,andIraqplannedtoincrease

itsproductioncapacityto400,000barrelsperday

bytheendof2011.

The fourth quarter :TheaveragepriceofDubai

crudewasUS$106.50perbarrel,droppingUS$0.59

perbarrelfromthepreviousquarter.Thisfollowed

OPECS forecast that world oil demand growth in

2012woulddecreaseby0.10millionbarrelsperday

fromthepreviousforecastto1.1millionbarrelsper

day. The chairperson of Iraqi State Oil Marketing Organizationreportedanincreaseincrudeoilexport

level in December 2011 from 1.0 to 2.175 million barrelsperday. Inaddition,NationalOilCompany

ofLibyaannouncedthesuspensionoftheoperation

ofRasLanufrefinery(220,000barrelsperday)for

onemonthsincethecrudeoilfieldwasnotreadyfor

production.TheaveragepriceofWestTexascrude

wasUS$94.07perbarrel,increasingbyUS$4.55per

barrelfromthepreviousquarter.Thiswastheresult

ofatelephonemeetingamong27financeministers

oftheEuropeanUnionwhichapprovedanadditional subsidy worth 1.5 billion Euro to International MonetaryFund(IMF)forassisting17countriesinthe

EuroZone.Theoilmarketwasalsobackedupby

theUSAeconomicdatawhichshowedstrength.New

homesalesinNovember2011increased1.6%while

durablegoodssalesincreased3.8%.Theinformation

assuredtheUSAeconomyisrecovering.

2011 :Inconclusion,theaveragepricesofDubai

andWestTexascrudewereUS$106.32perbarreland

US$95.01perbarrel,risingbyUS$28.22perbarrel

andUS$15.52perbarrelrespectivelyfromlastyear.


61 3

2.

1 95, 92 113.49, 111.38

119.30

4255318.49,18.4421.97

210,000

LibyanNational Oil Company Arbitrage

Rotterdam

(386,000/)BP2

2 95

92 124.89, 122.28

130.05

11.40,10.9110.75

32554250,000

/

1.52554

Ramadan

1.30

UmmAlNar (85,000

/) Boiler GS Caltex 870,000/ Korea National Oil Corp.

2. REFINED OIL PRICE IN SINGAPORE' SPOT MARKET

The first quarter :Theaveragepricesofgasoline octane 95, 92 and diesel were US$113.49,

US$111.38, and US$119.30 per barrel, rising from

US$18.49, US$18.44, and US$21.97 per barrel respectively from the fourth quarter of 2010 in line with the crude oil price. The ship containing

210,000barrelsofgasolinehiredbyLibyanNational

OilCompanywashijackedresultinginashortageof

supplyforgasolineinLibya.Gasolinearbitragewas

reportedlyfoundfromIndiatotheWest.Therewas

alsoan increase indemandforgasoline inJapan

forelectricitygenerationafterthecountrywashitby

thetsunami.Moreover,refinerieslocatedinvarious regions were shut down on their maintenance schedule.BPsRotterdamRefinery(386,000barrels per day), which is the second largest refinery in

Europe, also halted is operation without reason. DemandforgasolineinIndiaroseduetoanincrease

intransportandconstructionactivities,aswellas

heavieruseofairconditionersduringsummer.

The second quarter : The average prices of

gasolineoctane95,92anddieselwereUS$124.89,

US$122.28,andUS$130.05perbarrel.Theprices

roseUS$11.40,US$10.91,andUS$10.75perbarrel respectively from the previous quarter. Analysts predictedthatdemandforgasolineinIndonesiain

thethirdquarterof2011couldreach250,000barrels perday.SaudiArabiasSaudiAramcoimported1.5

million barrels of oil in July 2011 as reserves for Ramadan inAugust. Japansdemand for gasoline

reached1.30millionbarrelssincethetouristseason

was approaching while refineries were still unable

to operate following the earthquake. UmmAl Nar RefineryoftheUnitedArabEmirates(85,000barrels


2 5 5 42 3 4 5 61


82554

3 95, 92

124.45, 121.74

124.69

0.44,0.555.36

American

Petroleum Institute (API)

2554

9.1/1.3

NingxiaPetroChina(100,000/)

(CrudeDistillationUnit)

5/200,000/

2554

2554 13 15 4

4 95, 92

116.13,114.10124.31

8.32,7.640.38

ARA222554 0.2 3.4 5.7 LankaIOC(LIOC) 2555 Vietnam National Petroleum ImportExport Corp.

(Petrolimex)

12555

4 2554 1 2554

perday)wastemporarilyshutdownasaresultof afireaccidentattheboiler.Anotherfactorcontributing totheoilpriceincreasewastherequestfromSouth

KoreasGSCaltexfor870,000barrelsperdayofdiesel fromKoreanNationalOilCorp.sreserveafterdomestic demandhadskyrocketedbeforetheretailpricewas

raisedon8August2011.

The third quarter :Theaveragepricesofgasoline octane95,92anddieselwereUS$124.45,US$121.74, and US$124.69 per barrel. The prices dropped

US$0.44, US$0.55, and US$5.36 per barrel respectively from thepreviousquarter In linewith thecrudeoilprice.AmericanPetroleumInstitute(API)

oftheUSAreportedtheUSAdemandforgasolinein

August2011was9.1millionbarrelsperday,adecrease of 1.3%. Ningxia Refinery of PetroChina (100,000

barrelsperday)expandeditscruderefiningcapacity to5milliontonnesperyearorapproximately200,000 barrelsperday.Therefinerywasexpectedtoresume

itsoperationbytheendofOctober2011.SouthKorea's

dieselexportinAugust2011was13millionbarrels, anincreaseof15%.Severeworldeconomicrecession,

moreover,resultedinadeclineindemandfordiesel

especiallyinthefourthquarter.EuroZonedebtcrisis

alsocausedadeclineindemandfordieselinEurope

althoughthecontinentwasinthemiddleofwinter.

The fourth quarter : The average prices of


US$114.10, and US$124.31 per barrel. The prices

droppedUS$8.32,US$7.64,andUS$0.38perbarrel respectivelyfromthepreviousquarterinaccordance

withtheEuropeancommercialgasolineoilreserve

aroundARAfortheweekendingon22December2011,

whichincreased0.2millionbarrels,or3.4%,to5.7 millionbarrels.SriLankasLankaIOC(LIOC),moreover, banned imported gasoline in January 2012 while


63 3

2554 95,

92119.77,117.40

124.56

31.36,31.1735.00

3.

1 95, 91,95E10,E20,E85,91

B5 45.31,

40.45, 35.95, 32.55, 21.22, 33.45, 29.98

29.8542553

3.91,4.17,3.47,2.72,1.91,2.79,0.79

1.66

2 95, 91,

95E10,E20,E85,91

48.28,42.93,38.03,34.63,

22.45,35.5329.99

2.97, 2.48, 2.08, 2.08,

1.23,2.080.01

3 95, 91,

95E10,E20,E85,91

45.02,40.12,37.17,33.28,

22.10,34.4929.17

3.26,2.81,0.86,1.35,0.35,

1.040.82

Vietnam National Petroleum ImportExport Corp.

(Petrolimex)expectedthatthedemandforgasoline

forsaleatitsservicesstationsinthefirstquarterof

2012wouldbelowerthanthoseofthefirstandfourth

quarter2011.DieseloiltransportedfromtheEastto

theWestwasalsosuspendedduetoadeclineina

demandinthewesternregion.

2011 : In conclusion, the average prices of


US$117.40, and US$124.56 per barrel. The prices

roseUS$31.36,US$31.17,andUS$35.00perbarrel

respectivelyfromthepreviousyear.

3. RETAIL PRICE

The first quarter :Theaveragepricesofgasoline octane95,91,gasohol95E10,E20,E85,gasohol91, aswellashighspeeddieselandhighspeeddiesel

B5were45.31,40.45,35.95.32.55,21.22,33.45,

29.98,and29.85Bahtperlitre.Thepricesrosefrom thefourthquarterof2010by3.91,4.17,3.47,2.72,

1.91,2.79,0.79,and1.66Bahtperlitrerespectively.

The second quarter : The average prices of

gasolineoctane95,91,gasohol95E10,E20,E85,

gasohol91,andhighspeeddieselwere48.28,42.93,

38.03.34.63,22.45,35.53,and29.99Bahtper

litre.Thepricesrosefromthepreviousquarterby

2.97,2.48,2.08,2.08,1.23,2.08,and0.01Baht

perlitrerespectively.

The third quarter : Theaveragepricesofgasoline

octane95,91,gasohol95E10,E20,E85,gasohol

91,andhighspeeddieselwere45.02,40.12,37.17,

33.28,22.10,34.49,and29.17Bahtperlitre.The

pricesdroppedfromthepreviousquarterby3.26,

2.81,0.86,1.35,0.35,1.04,and0.82Bahtperlitre

respectively.


2 5 5 42 3 4 5 61


2551 2554

Average fuel price during 2008 2011

2551

2008

2552

2009

2553

2010

2554 2011

2554

2011

average

average

average

average

1

1st quarter 2

2nd quarter

3

3rd quarter

4

4th quarter

( : ) / Crude oil price (unit : US$ per barrel)

Dubai

94.18 61.91 78.10 106.32 100.90 110.63 107.09 106.50

Brent

97.83 62.05 79.89 111.26 105.79 116.86 113.16 109.43

WestTexas

100.11 61.92 79.49 95.01 94.53 102.22 89.52 94.07

( : ) / Refined oil price in Singapore spot market

(unit : US$ per barrel)

95

GasolineOctane95

103.27 70.38 88.40 119.77 113.49 124.89 124.45 116.13

4 95, 91,

95E10,E20,E85,91

39.42,35.31,34.61,31.28,

21.21,32.2828.61

5.60,4.81,2.56,2.00,0.89,

2.210.56

2554 95,91,

95E10,E20,E85,91,

B544.49,39.69,

36.44,32.93,21.75,33.94,29.4429.88

3.34,3.61,

4.10,2.98,2.54,3.10,0.762.33

The fourth quarter : The average prices ofgasolineoctane95,91,gasohol95E10,E20,E85,

gasohol91,andhighspeeddieselwere39.42,35.31,

34.61,31.28,21.21,32.28,and28.61Bahtperlitre.

The prices dropped from the previous quarter by

5.60,4.81,2.56,2.00,0.89,2.21,and0.56Baht

perlitrerespectively.

2011 : In conclusion, the average prices ofgasolineoctane95,91,gasohol95E10,E20,E85,

gasohol91,aswellashighspeeddieselandhigh

speeddieselB5were44.49,39.69,36.44,32.93,

21.75,33.94,29.44,and29.88Bahtperlitre.The

prices rose from thepreviousyearby3.34,3.61,

4.10,2.98,2.54,3.10,0.76,and2.33Bahtperlitre

respectively.


65 3

2551

2008

2552

2009

2553

2010

2554 2011

2554

2011

average

average

average

average

1

1st quarter 2

2nd quarter

3

3rd quarter

4

4th quarter

( : ) / Refined oil price in Singapore spot market

(unit : US$ per barrel)

92

GasolineOctane92

101.95 68.18 86.23 117.40 111.38 122.28 121.74 114.10

HighSpeedDiesel

120.25 69.13 89.56 124.56 119.30 130.05 124.69 124.31

( : ) / Retail prices in Thailand (unit : Baht per litre)

95

GasolineOctane95

35.47 37.97 41.15 44.49 45.31 48.28 45.02 39.42

91

GasolineOctane91

33.42 31.36 36.08 39.69 40.45 42.93 40.12 35.31

95E10

Gasohol95E10

28.96 27.52 32.34 36.44 35.95 38.03 37.17 34.61

91

Gasohol91

28.16 26.72 30.84 33.94 33.45 35.53 34.49 32.28

95E20

Gasohol95E20

27.34 25.41 29.95 32.93 32.55 34.63 33.28 31.28

95E85

Gasohol95E85

18.70 18.99 19.21 21.75 21.22 22.45 22.10 21.21

HighSpeedDiesel

31.29 24.80 28.68 29.44 29.98 29.99 29.17 28.61

B5

HighSpeedDieselB5

30.36 22.74 27.55 29.88 29.99

2551 2554

Average Petroleum Product prices during 2008 2011


2 5 5 42 3 4 5 61


2551 2554

Oil traders' average marketing margin during 2008 2011

:/unit:Bahtperlitre

2551

2008

2552

2009

2553

2010

2554 2011

2554

2011

average

average

average

average

1

1st quarter 2

2nd quarter

3

3rd quarter

4

4th quarter

95

GasolineOctane95

2.85 5.55 4.89 5.41 4.86 5.45 5.49 5.82

91

GasolineOctane91

1.83 1.62 1.50 1.87 1.51 1.71 1.83 2.41

95E10

Gasohol95E10

2.37 1.58 1.52 1.38 1.28 1.59 1.38 1.26

91

Gasohol91

2.32 1.81 1.75 1.55 1.45 1.78 1.54 1.43

95E20

Gasohol95E20

1.98 2.32 2.62 2.38 1.98 2.79 2.32 2.45

95E85

Gasohol95E85

4.77 5.06 8.26 5.60 8.80 9.03 9.55

HighSpeedDiesel

1.37 1.49 1.51 1.27 1.11 1.25 1.28 1.45

Total Average

1.63 1.65 1.56 1.40 1.12 1.38 1.38 1.60

( : ) / Oil traders' refining margin (unit : Baht per litre)

Average

1.9323 0.8563 1.1101 1.5654 1.57 1.59 1.68 1.43


67 3

2553 2554

Average contribution to the Oil Fund during 2010 2011

:/unit:Bahtperlitre

2553

2010

average

2554

2011

average

1

at the end

of the

1st quarter

2

at the end

of the

2nd quarter

3

at the end

of the

3rd quarter

4

at the end

of the

4th quarter

95

GasolineOctane95

7.50 4.89 7.50 7.50 4.65 0.00

91

GasolineOctane91

6.65 4.37 6.70 6.70 4.15 0.00

95E10

Gasohol95E10

2.71 1.87 2.40 2.40 2.06 0.64

91

Gasohol91

1.32 0.41 0.10 0.10 0.41 1.40

95E20

Gasohol95E20

0.48 1.81 1.30 1.30 1.81 2.80

95E85

Gasohol95E85

11.12 13.50 13.50 13.50 13.50 13.50

HighSpeedDiesel

0.66 0.59 3.17 0.42 1.19 0.00

LPG

(/)

LPGforhouseholdsector

(Baht/kilogramme)

0.6107 1.1370 1.1142 1.1966 1.2169 1.0203

LPG

(/)

LPG for industrial sector

(Baht/kilogramme)

5.4783 4.0492 6.6278


2 5 5 42 3 4 5 61


29 2554

Oil price structure as of 29 December 2011

:/unit:Bahtperlitre

95

Gasoline

95

91

Gasoline

91

95 E10

Gasohol

95 E10

91

Gasohol

91

95 E20

Gasohol

95 E20

95 E85

Gasohol

95 E85

High

Speed

Diesel

Exrefineryprice

23.3696 22.9519 23.3258 23.1291 23.1945 21.4744 25.1836

Excisetax

7.0000 7.0000 6.3000 6.3000 5.6000 1.0500 0.0050

Municipalitytax

0.7000 0.7000 0.6300 0.6300 0.5600 0.1050 0.0005

OilFund

0.0000 0.0000 0.2000 1.4000 2.8000 13.5000 0.0000

EnergyConservation

PromotionFund

0.2500 0.2500 0.2500 0.2500 0.2500 0.2500 0.2500

()

VAT(wholesale)

2.1924 2.1631 2.1494 2.0236 1.8763 0.6566 1.7807

Totalwholesale

33.5120 33.0650 32.8552 30.9327 28.6808 10.0360 27.2198

Marketingmargin

5.0542 1.7803 0.7802 0.9414 2.1114 10.1720 1.5609

()

VAT(retail)

0.3538 0.1246 0.0546 0.0659 0.1478 0.7120 0.1093

Totalretail

38.92 34.97 33.69 31.94 30.94 20.92 28.89


69 3

4. LPG

1 LPG62.67

860.33

LPG

2554AbuDhabiGas

LPG40,000 17

2554

2 LPG49.33

909.67

LPG

LPG

LPG

925 935 855 90

2554

LPG9.8%

TEPCO

3 LPG74.33

835.33 Bharat PetroleumCorp.Ltd.LPG 100,0002554 LPG

2554 1 4 3 /. Vietnams Saigon Pressurized LPG

2,700 26 28 2554

4. LPG

The first quarter : The average price of LPGroseUS$62.67pertonnefromthepreviousquarter reachingUS$860.33pertonneaccordingtocrudeoil

priceaswellasthecoldandtoughweatherwhichled

toanincreaseindemandforLPGamongAmerican

countries.Majoroilcompanies intheMiddleEast

alsoshutdowntheiroperationsformaintenancefrom

FebruaryMarch2011.Inaddition,AbuDhabiGas

sold40,000tonnesofLPGscheduledfordelivery

during17April2011.

The second quarter : TheaveragepriceofLPGroseUS$49.33pertonnefromthepreviousquarter reachingUS$909.67pertonnesincetheJapanese

government decided to make use of LPG in its

legal reserve topreventLPGshortageasa result

ofthetsunami.TherewasahugedemandforLPG

forwarminginJapan.Algeria,inaddition,settheir

propaneprice,scheduledtobedeliveredinApril,at

US$925pertonneandbutaneatUS$935pertonne

whileSaudiAramcosetitspropanepriceforJune atUS$855pertonne,whichdecreasedbyUS$90

pertonnefromMay2011.Thepetrochemicalsector

in Germany reportedly consumed 9.8%more LPG

thaninthepreviousyear.Therefounddemandfor

LPGinJapaneseTEPCOelectricitycompanyaswell.

The third quarter : The average price of LPGdropped US$74.33 per tonne from the previous

quarter to US$835.33 per tonne. Indian Bharat PetroleumCorp.Ltd.cancelleditsJuly2011sorder

for 100,000tonnesofLPG.Thailandintr

Documents

Annual Eppo 2554