South Korea’s S-Oil 010950.KS, whose main shareholder is Saudi Aramco 2222.SE, on Friday forecast that third-quarter refining margins would rebound, spurred by peak summer season demand for transport fuel.

Over the April-June period, the refiner said it operated the crude distillation units (CDUs) at its 669,000 barrels-per-day (bpd) oil refinery in the southeastern city of Ulsan at 94.6% of capacity, compared with 91.9% in January-March.
S-Oil said in an earnings presentation that it plans to shut its No. 1 crude distillation unit some time during the second half of this year, without giving further details.
Source: Reuters (Reporting by Joyce Lee and Heekyong Yang; Editing by Tom Hogue)