s-oil corporation-spon adr (SOOCY) Key Developments
S-Oil Reportedly Ups Stake In United Petroleum
Apr 2 15
S-Oil Corporation (KOSE:A010950) is understood to have renewed its interest in United Petroleum Pty Ltd, The Australian reported. A spokesman for S-Oil Corporation declined to comment on any mooted takeover discussions.
S-Oil Corporation Presents at Credit Suisse 18th Annual Asian Investment Conference 2015, Mar-23-2015
Mar 16 15
S-Oil Corporation Presents at Credit Suisse 18th Annual Asian Investment Conference 2015, Mar-23-2015 . Venue: Conrad Hotel, Pacific Place, 88 Queensway, Hong Kong, Hong Kong.
S-Oil Corporation, Annual General Meeting, Mar 20, 2015
Feb 27 15
S-Oil Corporation, Annual General Meeting, Mar 20, 2015., at 10:00 Korea Standard Time. Location: S-OIL Building 3rd Floor Auditorium. Agenda: To consider the audit reports and sales reports; to consider the financial statement and retained earnings; to consider the dividend and preferred shares; to consider the house directors and outside directors; to consider the audit committee; to consider the approval of director remuneration; and to consider other matter also.
S-Oil Signs W1,200bn Diesel, Naphtha Supply Deal
Feb 9 15
S-Oil has signed a Korean won 1,200 billion agreement to supply naphtha and diesel to Saudi Aramco Products Trading Co from February 2015 to December 2015. S-Oil will supply up to 14m barrels of diesel, including ultra-low-sulphur diesel and low-sulphur diesel, and up to 14m barrels of light naphtha to the trading arm of energy firm Saudi Aramco.
S-Oil Corporation Reports Earnings Results for the Fourth Quarter and Full Year of 2014; Provides Financial Guidance for 2015
Jan 30 15
S-Oil Corporation reported earnings results for the fourth quarter and full year of 2014. During the fourth quarter, total sales volume were 61.3 million barrels, extending by 3.6% quarter-on-quarter. Nonetheless, sales revenue reduced about 14% from a quarter ago, affected by sharp falling of crude oil price. Operating loss for the fourth quarter was KRW 213 billion, worsening from KRW 38 billion a quarter ago. So extended operating loss was mainly caused by negative impacts of crude oil price decline such as inventory-related loss worth KRW 310 billion and timeline impact on margin. Consequently, fourth quarter operating income was loss of KRW 329 billion compared with minus KRW 144 billion a quarter ago.
And for the full year of 2014, the company recorded KRW 259 billion of annual operating loss and KRW 264 billion of annual net loss. The loss is mostly due to the plunge of crude oil price in the second half. Accordingly, net debt was KRW 2.58 trillion. For 2014, the company executed KRW 883 billion of CapEx. Around 70% of the total CapEx in last year was for land acquisition, which is required for the company's future growth.
For 2015, the company has planned KRW 504 billion of CapEx. However, the company will invest KRW 91 billion in upgrading current plants to enhance their profitability, internally named the SUPER project. Also, for maintenance, KRW 224 billion is budgeted compared to KRW 69 billion of expenditure a year ago when there was no turnaround in major units. So maintenance budget increase reflects all scheduled turnaround of plants. Following one's regular turnaround the cycle this year plus all [indiscernible] scheduled the turnaround of some units, OpEx, implementation of the SUPER project. 2015 yearly depreciation cost is estimated at KRW 304 billion, a decrease of KRW 35.5 billion year-on-year.