Mitihoon – Rayong, November 12, 2025 – Star Petroleum Refining Public Company Limited (“SPRC”) reported strong financial performance for the third quarter of 2025, posting total revenue of US$1,896.9 million and a net profit of US$48.6 million, a significant increase from net loss of US$24.0 million in the previous quarter. The improvement was driven by stronger performances across both refinery and commercial businesses.
SPRC’s enterprise margin increased from US$6.33/bbl in Q2/2025 to US$6.85/bbl in Q3/2025. Refinery margins improved on the back of stronger middle distillate cracks and stock gains from higher average Dubai crude prices. Additionally, strong earnings benefited from lower operating expenses achieved through ongoing cost-efficiency initiatives. Meanwhile, the commercial business also delivered higher margins, together with operating cost optimization. The consolidated enterprise value capture reached US$40 million.
“Looking ahead, SPRC remains committed to enhancing value chain optimization and operational excellence to maximize shareholder value. The company will continue to drive cost efficiency, optimize crude flexibility, and prepare for the 2026 Turnaround and Inspection (T&I) to position the SPRC for sustainable long-term success. In addition, the company continues to conduct its business responsibly by integrating social, environmental, and economic principles into its operations, as demonstrated by achieving ESG DNA Certificate of Recognition from the Stock Exchange of Thailand (SET) for the successful participation in the ESG DNA Project 2024”, affirmed. Mr. Herbert Matthew Payne II, SPRC’s CEO and Director.
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