Integrated Annual Report 2018

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Macro environment

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

   
Quarterly average crude oil prices                                                                            
Brent Dtd USD/bbl 76.34 78.24 76.74 86.43 105.45 116.92 113.23 109.39 118.63 108.02 109.60 110.14 112.54 102.53 110.19 109.22 108.16 109.69 102.02 76.63 53.86 61.66 50.44 43.66 33.79 45.56 45.71 49.05 53.59 49.56 52.10 61.40 66.87 74.55 75.08 68.22 62.90
Spread Brent Dtd vs Ural Rtdm USD/bbl 1.41 1.74 0.92 1.51 2.93 2.83 0.67 0.26 1.20 1.97 0.69 0.97 1.69 0.65 0.15 1.40 1.37 2.22 1.79 1.54 1.78 1.45 1.41 2.68 2.7 2.59 2.33 2.18 2.14 1.52 1.01 0.91 1.59 1.87 1.32 0.82 0.24
Quarterly average FX rates                                                                            
USD PLN 2.88 3.16 3.10 2.92 2.88 2.75 2.94 3.28 3.22 3.33 3.31 3.17 3.15 3.21 3.21 3.07 3.06 3.04 3.15 3.37 3.73 3.70 3.77 3.89 3.96 3.87 3.89 4.06 4.06 3.83 3.63 3.60 3.40 3.58 3.7 3.77 3.79
EUR PLN 3.99 4.01 4.01 3.97 3.95 3.96 4.15 4.42 4.23 4.26 4.14 4.11 4.16 4.20 4.25 4.19 4.19 4.17 4.17 4.21 4.19 4.09 4.19 4.26 4.36 4.37 4.34 4.38 4.32 4.22 4.26 4.23 4.18 4.26 4.31 4.30 4.30
Model refining margin * USD/bbl                     9.68 9.10 7.31 6.08 4.32   5.05 4.97 6.97 7.32 9.38 8.08 7.41 6.21 6.51 6.49 6.01 8.24 7.34 7.14 8.57 7.07 6.38 7.29 7.47 8.47 6.98

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