Toluenesulfonyl Chloride Market Size, Trends, Revenue Share Analysis, Forecast, 2021–2027
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SK Innovation says refining margins to gradually improve in Q2
5/13/2021
SK Innovation Co Ltd, the owner of South Korea s top refiner SK Energy, said refining margins were likely to gradually improve in the second quarter due to recovering demand as the impact of COVID-19 eases.
The company posted an operating profit of 503 billion won ($444.88 million) in the January-March quarter, compared with an operating loss of 1.8 trillion won in the same period a year earlier.
Revenue declined 16% to 9.2 trillion won from a year earlier. That compares with the 9.9 trillion won forecast of analysts in the Refinitiv SmartEstimate. Despite the resurgence of COVID-19 in some regions and countries, as vaccinations in the United States and Europe continue, expectations about demand recovery are growing, Lee Dong-yeol, the head of SK Energy s corporate planning office, said in a earnings conference call.
(Adds SK’s comments from earnings conference call)
SEOUL, May 13 (Reuters) - SK Innovation Co Ltd, the owner of South Korea’s top refiner SK Energy, said on Thursday refining margins were likely to gradually improve in the second quarter due to recovering demand as the impact of COVID-19 eases.
The company posted an operating profit of 503 billion won ($444.88 million) in the January-March quarter, compared with an operating loss of 1.8 trillion won in the same period a year earlier.
Revenue declined 16% to 9.2 trillion won from a year earlier. That compares with the 9.9 trillion won forecast of analysts in the Refinitiv SmartEstimate. “Despite the resurgence of COVID-19 in some regions and countries, as vaccinations in the United States and Europe continue, expectations about demand recovery are growing,” Lee Dong-yeol, the head of SK Energy’s corporate planning office, said in a earnings conference call.
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South Korea s SK Innovation says refining margins to gradually improve in Q2 SK Innovation Co Ltd, the owner of South Korea s top refiner SK Energy, said on Thursday refining margins are likely to gradually improve in the second quarter due to demand recovery backed by easing COVID-19 impact.
FILE PHOTO: The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji
13 May 2021 08:50AM Share this content
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SEOUL: SK Innovation Co Ltd, the owner of South Korea s top refiner SK Energy, said on Thursday refining margins are likely to gradually improve in the second quarter due to demand recovery backed by easing COVID-19 impact.
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