S-Oil’s profit margin from its base oils and lube unit fell to a three-year low in the first three months of the year as base oils prices fell faster than feedstock costs.The unit’s operating profit margin of 25.7pc in the first three months of the year fell from 33.3pc during the fourth quarter of last year and from 26.3pc during the same period a year earlier.The unit’s profit margin had averaged more than 34pc since the beginning of 2020. It had averaged less than 19pc during the three years before 2020.The unit’s firm profit margin reflected the strength of Group III base oils prices in recent years in the face of rising demand that outpaced supply..S-Oil’s Q1 base oils profit falls
S-Oil’s profit margin from its base oils and lube unit fell to a three-year low in the first three months of the year as base oils prices fell faster than feedstock costs.The unit’s operating profit margin of 25.7pc in the first three months of the year fell from 33.3pc during the fourth quarter of last year and from 26.3pc during the same period a year earlier.The unit’s profit margin had averaged more than 34pc since the beginning of 2020. It had averaged less than 19pc during the three years before 2020.The unit’s firm profit margin reflected the strength of Group III base oils prices in recent years in the face of rising demand that outpaced supply..S-Oil’s Q1 base oils profit falls
