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Heekyong YangJoyce Lee 3 minute read The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji SEOUL, Aug 4 (Reuters) - SK Innovation Co Ltd (096770.KS), the owner of South Korea s top refiner SK Energy, said on Wednesday its expects refining margins to gradually improve in the second half as COVID-19 retreats and demand rebounds, and confirmed plans to make its battery business a stand-alone unit. The company posted an operating profit of 506 billion won ($441 million) in the April-June quarter, compared with an operating loss of 456 billion won in the same period a year earlier. ....
S-Oil expects Q3 refining margins to rebound on rising fuel demand hydrocarbonprocessing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hydrocarbonprocessing.com Daily Mail and Mail on Sunday newspapers.
China’s fuel clampdown curbs its LCO imports, Korean refiners to suffer China’s imports of light cycle oil (LCO) are set to fall in coming months as authorities crack down on its illicit trading and sales in South China, dealing a blow to the $10 billion market and to refiners in top supplier South Korea. China’s imports of the cheaper but more pollutive diesel blending fuel nearly doubled to record levels in 2020, but a clampdown in top oil consuming Guangdong province has curbed demand. The amount of South Korean LCO, a refinery by-product, to be loaded for shipment to China in May is down 60% from March while spot premiums have halved, industry sources said. ....
China’s imports of light cycle oil (LCO) are set to fall in coming months as authorities crack down on its illicit trading and sales in South China… ....
South China clampdown tackles both tax evasion and air pollution Chinese LCO imports to fall, hitting top supplier South Korea SINGAPORE, April 28 (Reuters) - China’s imports of light cycle oil (LCO) are set to fall in coming months as authorities crack down on its illicit trading and sales in South China, dealing a blow to the $10 billion market and to refiners in top supplier South Korea. China’s imports of the cheaper but more pollutive diesel blending fuel nearly doubled to record levels in 2020, but a clampdown in top oil consuming Guangdong province has curbed demand. The amount of South Korean LCO, a refinery by-product, to be loaded for shipment to China in May is down 60% from March while spot premiums have halved, industry sources said. ....