In 2021, we, Seaoil Public Company Limited ("Compan"), have overcome economic crisis incurred from the Coronavirus Disease 2019 outbreak, thanks to the participation from our board of directors, management and all employees for preparing themselves for coping with the situation and impact from world economic contraction which widely affected the production, investment, transportation, tourism sectors and Thai economic condition in overall and causing all business sectors to adapt to maintain their business continuity. Oil price condition in global market remained fluctuating and continuously surging because of the productivity supported and monitored by (OPEC) and their alliance nations, as well as the increase of demand from the oil consumption trended to increase resulting from the continuous recovery of economic condition and ceasing of lockdown in United State of America or Europe continent.
Seaoil Group remains to concentrate on driving our corporation to continuously grow in line with the sustainable development under the management with good corporate governance, operating business with responsibility to all interested persons whether shareholders, business partners, societies, communities, and environments, focusing on balance maintenance throughout value chain whether in the dimensions of economic, society and environment to create long-term value to our corporation. Amidst economic crises in 2021, SEAOIL revised our strategy and conduct new style of business operation in alignment with the changed environment. We recognized importance of safety and various health measures for our personnel and business partners, concentrating on technology development, and work operation to achieve the highest and faster efficiency.
For business profit overview in 2021, SEAOIL Group earned 240 million Baht net project, increasing by 661 percent comparing to 2020, due to the recognition of profit sharing received from joint ventures in the business of petroleum production and exploration which increased from the surge of production quantity and crude oil sales. Moreover, crude oil price drastically inclined comparing to the previous year, 11,340 million Baht total revenue, increasing by 114.98 percent comparing to the previous year. Most of the increase of income generated from the revenue from fuel distribution, by market expansion to oversea either in Asia or Europe. SEAOIL Group’s oil distribution in 2021 increased by 39 percent.
Our Board recognized the importance on transparent and fair business operation, continuously developed good corporate governance. In 2021, we were evaluated by observing of our corporate governance and ranked as an "Excellen" Thai listed company for three consecutive years. We enhanced and supported to form an alliance of Thai private sector for anti-corruption, conducted our business with responsibilities to societies, communities, and environment, considered all interested persons. Ultimately, for and on behalf of the Board, I would like to express my gratitude to all shareholders, partners, financial institutes, business partners, and all valuable customers and clients for your strong support in the business operation of SEAOIL Group, and please be assured that our Board performs their responsibilities with full responsibilities, so that our corporation will securely grow and create returns to all consideration to shareholders