SK Innovation, the owner of South Korea's leading refiner SK Energy, announced on Monday that it anticipates strong refining margins in the fourth quarter, driven by increased heating demand, robust economic growth in the U.S., and proactive economic stimulus measures in China.
The company reported an operating loss of 423 billion won (approximately $308 million) for the July-September period, a stark contrast to a profit of 1.56 trillion won in the same period last year. Additionally, third-quarter revenue dropped 11% to 17.7 trillion won.
In early trading, SK Innovation's shares were down 1.6%, while the benchmark KOSPI index rose 0.2%. (Exchange rate: $1 = 1,373.40 won) Refining Margins
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