S-Oil Reports Nearly Double Operating Profit on Strong Global Refining Margins
S-Oil reported a 91 percent increase in fourth-quarter operating profit to 424 billion won as refining margins doubled. The company expects robust 2026 results.
Insights:
S-Oil Corporation , a major refiner in South Korea 
KR, announced a 91 percent surge in its fourth-quarter operating profit for 2025 today. The company reported that operating profit reached 424 billion won, driven by a significant strengthening of global refining margins that more than doubled compared to the previous year. This performance highlights the financial impact of a tightening energy market on the South Koreanfirm, which is 63 percent owned by Saudi Aramco from Saudi Arabia 
SA.
KR, announced a 91 percent surge in its fourth-quarter operating profit for 2025 today. The company reported that operating profit reached 424 billion won, driven by a significant strengthening of global refining margins that more than doubled compared to the previous year. This performance highlights the financial impact of a tightening energy market on the South Koreanfirm, which is 63 percent owned by Saudi Aramco from Saudi Arabia SA.The refining division was a primary driver of the results, with its operating profit climbing 55 percent to 225.3 billion won. The refining margin for gasoline derived from Dubai crude rose to $13.4 per barrel during the fourth quarter of 2025, a sharp increase from the $6.5 per barrel recorded in the same period of 2024. These improved margins coincided with pricing trends for global benchmarks such as Crude Oil WTI .
