S-Oil expects winter demand to support refining margins at solid level

SEOUL (Reuters) – South Korea’s S-Oil 010950.KS, whose main shareholder is Saudi Aramco, on Monday said regional refining margins are projected to remain solid thanks to winter demand, given low global inventories and limited supply potential.

Over the July-September period, the refiner said it operated the crude distillation units at its 669,000-barrel-per-day (bpd) refinery in the southeastern city of Ulsan at 90.8% of capacity, up from 88.4% percent in the first half of this year.

(Reporting by Heekyong Yang and Joyce Lee; Editing by Tom Hogue)