S-Oil expects Q4 refining margin to regain momentum

S-Oil

04/11/2024 05:15

SEOUL, Nov 4 (Reuters) - South Korea's S-Oil
 010950.KS , whose main shareholder is Saudi Aramco  2222.SE ,
on Monday said it expects fourth-quarter regional refining
margin to regain momentum from seasonal demand growth under
limited supply conditions. 
    Over the July-September 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 93.3% of capacity, the same level as in the first half
of 2024. 
    S-Oil said in an earnings presentation that it plans to shut
its No.1 CDU in the fourth quarter for scheduled maintenance. 
        
  

 (Reporting by Joyce Lee and Heekyong Yang
Editing by Ed Davies)
 ((joyce.lee@tr.com;))