July 24, 2019 / 1:10 AM / 3 months ago

S.Korea's S-Oil expects demand for IMO 2020 to support refining margins

SEOUL, July 24 (Reuters) - South Korea’s S-Oil, South Korea’s third-largest refiner, said on Wednesday that inventory build-up ahead of the implementation of new shipping rules in 2020 will support refining margins in the third and fourth quarters.

“Refining margin is expected ... to show gradual improvement on the back of solid demand growth for driving season and inventory build-up in preparation of IMO implementation,” the refiner, whose major shareholder is Saudi Aramco, said in an earnings statement.

The refiner also said it will shut down its No.1 residue fluid catalytic cracker (RFCC) for maintenance in the third quarter.

Reporting By Jane Chung

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below