S-Oil expects steady Q1 refining margin due to less China exports, more demand

S-Oil

24/01/2025 24:38

SEOUL, Jan 24 (Reuters) - South Korea's S-Oil
 010950.KS , whose main shareholder is Saudi Aramco  2222.SE ,
on Friday said it expects steady first-quarter refining margin
due to reduced exports from China and increased seasonal demand.
    Over the October-December 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 91% of capacity, compared to 93% during full-year 2024.
    S-Oil said in an earnings presentation that it plans to shut
its No.1 RFCC sometime in 2025 for scheduled maintenance.

 (Reporting by Joyce Lee; Editing by Himani Sarkar)
 ((joyce.lee@tr.com;))