Business
S-Oil expects Q3 regional refining margin to stay supported
S-Oil expects Q3 regional refining margin to stay supported
About this update from S-oil Corporation
South Korea's S-Oil KRX:010950, whose main shareholder is Saudi Aramco TADAWUL:2222, said on Friday third-quarter regional refining margins are expected to stay supported, led by a seasonal demand uplift from driving and the peak travel season. Over the April-June period, the refiner said it operated the crude distillation units (CDUs) at its 669,000 barrels-per-day (bpd) oil refinery in the southeastern city of Ulsan at 95% of capacity, compared to 94% during the first quarter. S-Oil said in an earnings presentation that it plans to shut its No.1 RFCC unit in the fourth quarter of this year for scheduled maintenance.