Arab Today, arab today south koreas soils q1 net soars
Last Updated : GMT 22:42:36
Arab Today, arab today
Arab Today, arab today

South Korea's S-Oil's Q1 net soars

Arab Today, arab today

Arab Today, arab today South Korea's S-Oil's Q1 net soars

S-Oil Corp earnings skyrocketed 732.7%
Seoul - QNA

S-Oil Corp., South Korea's third-largest refiner, said Monday its earnings skyrocketed 732.7 percent in the first quarter from a year ago as cheap oil prices improved cracking margins.

Net income came in at 211.25 billion won about (US$196.4 million) in the January-March period, compared with 25.37 billion won from a year earlier, S-Oil said in a regulatory filing.

Sales, however, declined 42.5 percent on-year to 4.37 trillion won, while operating profit gained 407.3 percent to 238.13 billion won, the firm said.

S-Oil said its operating margin reached 5.4 percent in the quarter, the highest since the third quarter of 2012, on the back of strong demand driven by low oil prices, despite some loss of value in crude stockpiles in January, according to South Korea's (Yonhap) News Agency.

In contrast, sales dipped due to increased crude stockpiles ahead of the seasonal maintenance in the second quarter.

Its net also increased as S-Oil was refunded 50 billion won in fines and accumulated interest from the state watchdog in February after the top court overturned an earlier ruling that convicted the company of price rigging.

The Fair Trade Commission in 2011 levied massive fines on S-Oil and three other refiners on charges of colluding each other to unfairly set prices in 2000.

Demand for petrochemical products were expected to shrink in the off-peak season in the quarter that ends in June, but regular maintenance by major Asian refiners will offset the falling shipment and maintain stable margins, the company said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south koreas soils q1 net soars Arab Today, arab today south koreas soils q1 net soars

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday