S-Oil forecasts first-quarter net profit after reversing year-earlier loss
Updated
Updated · MarketWatch · May 8
S-Oil forecasts first-quarter net profit after reversing year-earlier loss
8 articles · Updated · MarketWatch · May 8
FactSet's six-analyst consensus sees 623.20 billion won in net profit, 9.894 trillion won in revenue and 976.39 billion won in operating profit for January-March.
The Saudi Aramco-controlled South Korean refiner would more than double profit from the previous quarter, helped by higher oil prices, rising inventory values and wider refining margins.
Shares have risen more than 40% this year, while investors watch whether Middle East tensions, a temporary truce, US-Iran talks and Seoul fuel-price caps will shape the outlook.
Can S-Oil's record profits survive both a Mideast peace and Seoul's domestic price caps?
Seoul's price caps cost refiners trillions. Who ultimately pays the price for cheaper domestic fuel?
A fragile Mideast truce is boosting oil profits. What happens to the global economy if it breaks?