Apr 27, 2022 / 05:00AM GMT
Unidentified Company Representative -
Good afternoon, everyone. This is (inaudible), the Treasurer of S-OIL. Thank you for your attention to S-OIL's Q1 earnings results.
For this conference call, our CFO, J.W. Bang -- J.W. and IR team leader, and the Chief team members joined. First, I will take you through the highlights of our first quarter results. Thanks to recent strength in refining margin and international oil price, the company achieved record high operating profit of KRW 1.3 trillion in Q1 this year. Solid fundamental in refining business, which drove these performance, is likely to be maintained for the time being.
In addition to ongoing geopolitical issues that affect the supply, there are other structural and mid- to long-term factors that support refining margins such as multiyear low inventory level, increasing demand on the back of ease restrictions on COVID-19, tight supply and demand driven by reduced investments in capacity addition and shutdown of obsolete facilities. The company is equipped with competitive facilities that can deliver outstanding performance by taking
Q1 2022 S-Oil Corp Earnings Call (English, Korean) Transcript
Apr 27, 2022
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