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Integrated Annual Report 2012
The Culture of Values

 

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Grupa LOTOS S.A. - Integrated Annual Report 2012

Macro environment

Crude oil prices and foreign exchange rates. model refining margin of Grupa LOTOS S.A.

 
    4Q12 3Q12 2Q12 1Q12 4Q11 3Q11 2Q11 1Q11 4Q10 3Q10 2Q10 1Q10 4Q09 3Q09 2Q09 1Q09 4Q08 3Q08 2Q08 1Q08

Quarterly average crude oil prices

Brent Dtd USD/bbl 110.08 109.50 108.29 118.60 109.35 113.41 117.04 105.43 86.47 76.86 78.24 76.36 74.53 68.08 59.13 44.46 55.47 115.09 121.1 96.71
Ural Rotterdam USD/bbl 108.64 108.67 106.31 116.87 108.63 111.52 113.73 102.55 85.16 75.58 76.92 75.31 74.21 67.76 58.46 43.66 54.58 113.32 117.47 93.35
Spread Brent Dtd vs  Ural Rtdm USD/bbl 1.09 0.68 2.11 1.26 0.29 0.75 2.86 2.91 1.52 0.92 1.76 1.41 - - - -        

Quarterly average FX rates

USD PLN 3.17 3.31 3.33 3.22 3.28 2.94 2.75 2.88 2.92 3.10 3.16 2.88 2.82 2.94 3.27 3.45 2.86 2.2 2.18 2.39
EUR PLN 4.11 4.14 4.26 4.23 4.42 4.15 3.96 3.95 3.97 4.01 4.01 3.99 4.17 4.2 4.45 4.5 3.77 3.31 3.41 3.58

Model refining margin

Model refining margin USD/bbl 5.41 6.95 6.52 3.71 3.88 2.34 2.92 4.52 4.55 3.30 5.33 4.16 - - - -        

Source: Market data and quotations. NBP

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