We are principally engaged in the trading of oil related products, which can be broadly categorized into (i) crude oil and (ii) oil-based products such as fuel oils, motor gasoline, additives, gas condensate, base oils, asphalt, petrochemicals and naphtha (heavy gasoline).
We trade our products across multiple countries in Southeast Asia and East Asia, and we have established a presence in the oil trading markets in these countries. For the financial years ended December 31, 2022 and 2023, our total trading volume increased by 17.9% from 2,765 kBBLs (where 1 kBBL is equal to 1,000 barrels of oil) to 3,261 kBBLs, respectively. For the financial years ended December 31, 2022 and 2023, our total trading revenue decreased by 9.6% from US$319,804,000 to US$289,166,000, respectively.
