S-Oil says Q4 refining margins to be robust as refinery outages limit supply

S-Oil

03/11/2025 04:08

SEOUL, Nov 3 (Reuters) - South Korea's S-Oil 010950.KS, whose main shareholder is Saudi Aramco 2222.SE, said on Monday it expects fourth-quarter regional refining margins to be robust amid limited supply due to global refinery outages and shutdowns of aging facilities.

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 97% of capacity, compared to 95% during the first half of 2025.

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.

 (Reporting by Seoyun Kang and Joyce Lee; Editing by Himani Sarkar)

 ((joyce.lee@tr.com;))