SEOUL (Reuters) – South Korea’s S-Oil, whose main shareholder is Saudi Aramco, 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)
