SK Innovation expects second-quarter refining margins to stay weak on sluggish fuel demand – CNA

Posted on May 12, 2020 by Design in Design Innovation | 0 Comments

SEOUL: SK Innovation , owner of South Korea’s top refiner SK Energy, said on Wednesday that refining margins are expected to remain weak in the second quarter, weighed down by sluggish fuel demand in the midst of the coronavirus pandemic.

The company posted an operating loss of 1.8 trillion won (US$1.5 billion) in the first quarter, compared with an operating profit of 328 billion won for the same period a year earlier, it said in an earnings statement.