In brief
S‑Oil Corp. announced a third‑quarter net income of 1.43 trillion won, a 2,171.3 % increase from the same period last year, while operating profit rose 513.7 % and revenue climbed 42.2 %. The surge is attributed to higher refining and lubricants margins, and the company highlighted ongoing trial operations at its new Shaheen petrochemical complex.
SEOUL―S‑Oil Corp. released its third‑quarter results on Monday, reporting a net profit of 1.43 trillion won (US$1.1 billion), a steep 2,171.3 % rise over the year‑ago figure of 63.2 billion won.
Operating profit for the July‑September period leapt 513.7 % on‑year to 1.4 trillion won, while revenue increased 42.2 % to 11.96 trillion won. The operating figure exceeded analysts’ average estimate by 6.2 %.
"A combination of high oil prices, improved export refining margins and improved profitability in the lubricants business pushed up the quarterly results," the company said in a regulatory filing.
The company expects refining margins to stay high into the fourth quarter, citing low global inventories and strong seasonal demand for heating oil. It also predicts lubricants supply will remain tight amid production disruptions and logistical constraints.
In a separate note, Shaheen petrochemical complex, a 9.26 trillion‑won facility under construction adjacent to S‑Oil’s Ulsan refinery, is currently in trial operation and will begin producing key petrochemical products, including ethylene, propylene and butadiene, in early 2027.
