S-Oil says Q4 refining margins to be robust as refinery outages limit supply
11/3/2025 12:00:00 PM
South Korea's S-Oil, whose main shareholder is Saudi Aramco, said 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.
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