S-Oil Q1 net drops 82.6% on weak PX margin
Seoul - Yonhap
S-Oil Corp., South Korea's third-largest refiner, said Thursday its net profit tumbled 82.6 percent in the first quarter from a year ago due to lower cracking margin and a drop in paraxylene (PX) spread. Net income came to 25.59 billion won (US$24.7 million) in the January-March period from 147.45 billion won a year earlier, S-Oil said in a regulatory filing.
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