Major refiners bask in decent Q1 profit, set to see another upbeat result
May 14, 2017
South Korean oil refiners, led by top player SK Innovation Co., logged decent earnings in the first quarter of the year on the back of robust petrochemical business, and expect their bottom line to remain firm under the current quarter thanks to the recovery of their refining margin, industry sources said Sunday.SK Innovation posted a net profit of 859 billion won ($757 million) in the first quarter, sharply up from 566 billion won profit a year earlier, thanks to better-than-expected results fr