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