2.2 Accounting Gross Integrated Margin (Accounting GIM) The Accounting Gross Integrated Margin (Accounting GIM) in 2023 was Baht 18,221 million or USD 7.44 per barrel improving by Baht 808 million from that in 2022. This was mainly because the Market GIM declined by Baht 4,417 million or USD 2.67 per barrel. However, the net inventory loss was less than that in 2022 by Baht 5,225 million or USD 2.36 per barrel. The net inventory loss in 2023 comprised of a stock loss of Baht 2,488 million or USD 1.02 per barrel versus an NRV reverse of Baht 1,026 million or USD 0.42 per barrel and a gain on realized oil hedging of Baht 339 million or USD 0.14 per barrel. GRM PTF Power & Utilities (USD/bbl) (MB) 24,000 19,000 14,000 9,000 4,000 0 24 19 14 9 4 0 2023 2022 2023 2022 23,761 19,344 10.57 0.85 7.90 3,783 3,039 1.68 1.24 1,906 2,269 18,072 14,036 8.04 5.73 0.93 Market GIM 30,000 25,000 20,000 15,000 10,000 5,000 0 (5,000) (10,000) 30 25 20 15 10 5 0 (5) (10) Market GIM Stock Gain/(Loss)+NRV Realized Oil Hedging 17,413 18,221 7.75 7.44 23,761 (1,462) 19,344 10.57 7.90 0.91 2,037 (8,385) 339 (3.73) 0.14 (0.60) (USD/bbl) (MB) 2023 2022 2023 2022 Accounting GIM Note: Net Inventory Gain (Loss) = Stock Gain (Loss) + NRV + Realized Oil Hedging 181 Management Discussion and Analysis (MD&A) 56-1 ONE REPORT 2023
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