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Top related persons:
Refinitiv SmartEstimate - 1 Kim Kyunghoon - 1 1,282.8300 - 1 Heekyong Yang - 1 Joyce Lee - 1 Jamie Freed - 1 Kim Coghill - 1
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SEOUL North America Europe
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SK Innovation Co - 1 refiner SK Energy - 1 Analysts - 1 SK Innovation's - 1 SK - 1 SK Innovation - 1 Ford Motor - 1 Hyundai Motor - 1

Search resuls for: "refiner SK Energy"


3 mentions found


☆ SK Innovation expects refining margins to gradually improve in H2
  + stars: | 2023-07-28 | by ( Heekyong Yang Joyce Lee | Heekyong Yang | Joyce Lee | ) www.reuters.com   time to read: +2 min
SEOUL, July 28 (Reuters) - SK Innovation Co Ltd (096770.KS), owner of South Korea's top refiner SK Energy, said on Friday it expects refining margins to gradually improve in the second half thanks to favourable market conditions backed by solid travel season demand. Analysts said SK Innovation's refining business had been hit by declines in refining margins and oil prices, while its battery business had continued generating losses due to costs related to its newly set up U.S. battery plants. SK Innovation's battery unit SK On, which was split off last year, accounted for about 20% of the company's revenue in the second quarter. SK Innovation said it expects its battery unit's profitability to improve in the second half thanks to the U.S. tax subsidies from the Inflation Reduction Act. Shares of SK Innovation were trading down 0.9%, versus benchmark KOSPI's (.KS11) 0.5% fall at 0210 GMT.
Persons: Refinitiv SmartEstimate, Kim Kyunghoon, 1,282.8300, Heekyong Yang, Joyce Lee, Jamie Freed, Kim Coghill Organizations: SK Innovation Co, refiner SK Energy, Analysts, SK Innovation's, SK, SK Innovation, Ford Motor, Hyundai Motor, Chief, SK On's, LG Energy, Thomson Locations: SEOUL, North America, Europe
☆ SK Innovation sees 'solid' Q2 refining margin on China's reopening
  + stars: | 2023-05-04 | by ( Heekyong Yang Joyce Lee | Heekyong Yang | Joyce Lee | ) www.reuters.com   time to read: +3 min
The company did not specify how much it expects its second-quarter refining margin, a key profit metric for refiners, to be. The company posted operating profit of 375 billion won ($281.6 million) for the first quarter ended March, versus 1.6 trillion won a year earlier. In March, Ford Motor, which uses batteries from SK On, recalled 18 electric trucks due to a battery cell manufacturing defect. SK On currently has battery joint ventures with Ford and Hyundai Motor Group in the United States. Shares of SK Innovation were trading up 0.5% in morning trade, versus a 0.3% fall in the broader KOSPI index (.KS11).
☆ SK Innovation sees gradual recovery in refining margins in Q4
  + stars: | 2022-11-03 | by ( Heekyong Yang Joyce Lee | Heekyong Yang | Joyce Lee | ) www.reuters.com   time to read: +2 min
SEOUL, Nov 3 (Reuters) - SK Innovation Co Ltd (096770.KS), the owner of South Korea's top oil refiner SK Energy, said on Thursday it expects a gradual recovery in refining margins this quarter as stronger Western sanctions on Russia and the winter season push up fuel demand. However, the company said margins will likely remain not far from third-quarter levels due to global recession worries. SK Innovation's operating profit rose to 704 billion won ($493 million) in the July-September period from 669 billion won a year earlier, it said. Revenue rose 82% to 22.8 trillion won, beating an average analyst estimate of 19.8 trillion won according to Refinitiv SmartEstimate. SK Innovation shares were trading up 0.8% in morning trade, versus a 0.6% fall in the broader KOSPI (.KS11).
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