S Korea’s S-Oil’s net profit down in Q2
Sources also reported that the company’s sales decreased by 1.4% on a yearly basis to 694,000 barrels/day in the second quarter and sales were down by 0.9% on a quarterly basis.
The company’s revenue, on the other hand, was up by 11.1% on a yearly basis to KRW4.67 trillion ($4.17 billion) in Q2 when compared to KRW4.2 trillion ($3.7 billion) in the same period of the last year due to higher prices.
Meanwhile, the company’s operating profit plummeted to KRW117.3 billion ($104.8 million) in the second quarter from KRW604.9 billion ($540.8 million) in the previous quarter.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PS, ABS markets take respite from rising streak in China, SEA
- Muted demand in Europe paves way for plenty of PP, PE offers in Turkey
- Import PE uptrend persists in China despite bearish winds mounting in local market
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers