S-Oil sees Q2 refining margins impacted by developments in US tariff talks
ReutersApr 28, 2025 12:16 AM
SEOUL, April 28 (Reuters) - South Korea's S-Oil 010950.KS, whose main shareholder is Saudi Aramco 2223.SE, said on Monday it expects second-quarter refining margins to be impacted by developments in U.S. tariff negotiations amid heightened global market volatility.
In the January-March 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 94% of capacity, compared to 93% during full-year 2024.
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