South Korea's S-Oil says Q1 refining margins to remain robust on steady demand

S-Oil

26/01/2026 24:21

SEOUL, Jan 26 (Reuters) - South Korea's S-Oil 010950.KS, whose main shareholder is Saudi Aramco 2222.SE, on Monday said it expects first-quarter refining margins to remain robust due to steady demand, supply disruption and the planned closure of a U.S. refinery.

Over October-December, the refiner said it operated 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 96% during the entire 2025.

S-Oil said in an earnings presentation that it plans to shut its No. 2 CDU and No. 2 RFCC in 2026 for scheduled maintenance.

 (Reporting by Seoyun Kang and Joyce Lee; Editing by Christopher Cushing)

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