SEOUL, Nov. 14 (UPI) -- South Korea's major refiners, including SK Innovation and S-Oil, got back on track during the third quarter this year after suffering a streak of losses in early in 2025.
SK Innovation said that it posted $14 billion in sales, up 16.3% year-on-year, resulting in an operating profit of $392 million. A year ago, the Seoul-based corporation faced a deficit of $289 million.
By segment, its refining business generated $8.5 billion in turnover and $208 million in operating income. SK Innovation also runs petrochemical, lubricants and battery businesses.
"Our earnings showed significant improvement from the previous quarter, led by the rebound in our core businesses," SK Innovation's CFO Seo Kun-ki said in a statement.
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