S-Oil reports huge drop in profit on sluggish refining margin and polysilicon losses

S-Oil, South Korea's major oil refiner and aromatics producer, said today that it posted a 99% fall in net profit in the fourth quarter of 2012 compared with the year-ago period due to a sluggish refining margin and losses from an equity investment in a polysilicon company. Net income dropped to 3.39 billion South Korean won ($3.1 million) from won337 billion in the October to December 2011 period. Fourth quarter 2012 sales were down 9.5%, to won8.4 trillion. Aramco holds 35% share in S-Oil.   S-Oil entered the polysilicon business in 2011 through the...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers