b'FINANCIAL AND OPERATIONAL PERFORMANCE 2019DownstreamOur downstream operations encompass refinery operations, marketing (trading) and sales for both Staatsolie and our subsidiary GOw2, and Ventrin (Trinidad), our subsidiary that sells bunker fuels for ships. The refinery at Tout Lui Faut receives Saramacca Crude via a 55 km pipeline; most of the refined products are sold locally, and the surplus is exported.2019 KEY FOCUS 2020 KEY FOCUS Increase utilization of the productionSuccessful execution of the firstunits producing more than 10,000Turn Around of the refinery and a barrels of ultra-low sulphur dieselflawless start up .and ultra-low sulphur gasoline per stream day.In 2019, we had two events that we are really proud of in thedownstream. Firstly, through implemented improvements we had a sustained production above 10,000 barrels per day of diesel and gasoline in Q4 2019. Secondly, we upgraded to a better off take market for our products. With this upgrade we can sell our oil now against the base reference of New York Harbour No. 6,1%S. This reference price was approximately US$ 25 per barrel higher in Q4 2019 than the previously used reference of US Gulf Coast No. 6,3%S.Annand JagesarDownstream Deputy Director5,582,114 2.7710,500bblsMMbblsrefinery target goal fortotal bbls sold in 2019, including ultra-lowrefinery production of high-end high-end products a daysulphur diesel, (1,884,024), gasolineproducts (gasoline and diesel)(544,891), fuel oil (3,104,691) and othersin 2019, compared to(48,508), compared to 5,322,636 in 2018 2.74 MMbbls in 2018 79%refinery utilization in 2019,compared to 79.7% in 20181,515 bbls16 STAATSOLIE 2019 ANNUAL REPORT average diesel sales/day in 2019, compared with 1,345 in 2018'