SK Innovation shifts to black on stronger refiner margins

SK Innovation Co., South Korea's leading refiner, on Wednesday said it swung to the black in the first quarter on inventory-related gains, led by higher oil prices and improved refining margins amid the war in the Middle East. The company posted a net profit of 896.1 billion won ($601.7 million) in the January-March period, shifting from a loss of 125.6 billion won a year earlier, according to a regulatory filing. Operating income for the quarter stood at 2.16 trillion won, compared with a loss

By The Korea Herald