Apr 27, 2020 / 07:00AM GMT
Cho Yong-kuk - S-OIL Corporation - Treasurer
Good afternoon, everyone. Welcome to our first quarter 2020 earnings conference call. I would like to thank you all for joining us today. I am Cho Yong-kuk, the Treasurer of S-OIL Corporation. I am glad to be here today to communicate with you through the earnings conference call. Your continued support will be highly appreciated.
I (inaudible) Mr. (inaudible) and other (inaudible) members are with me here. Before Mr. [Go] presents our first-quarter financial results, I would like to start with a brief review on business environment and other performance.
The first quarter of 2020 was the worst period of time for the Company due to outbreak of COVID-19. In the first quarter the Company posted a significant operating deficit due to a messy inventory-related [growth] from the [blunt] in crude oil prices and lingering weakness of refining margin.
COVID-19 pandemic [parked] unprecedented collapse of global demand for petroleum and refined product, especially transport fuel such as jet and gasoline. Not only the refining
Q1 2020 S-Oil Corp Earnings Call (English, Korean) Transcript
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