April 25, 2024
Industrials
SK Incheon Petrochem forecasts another record-breaking year
[THE INVESTOR] SK Incheon Petrochem, the petrochemicals unit of the nation‘s top refiner SK Innovation, is expected to post record-high operating profits this year, largely backed by swift sales of the company’s paraxylene products used to produce polyester textiles and plastic bottles.
SK Incheon Petrochem expects to log operating profit that could surpass the record number achieved last year, the company‘s officials said. The petrochemicals unit of SK innovation last year logged an annual operating profit of 374.5 billion won ($344.2 million).
As of the third quarter this year, SK Incheon Petrochem’s operating profit reached 256.1 billion won, somewhat down from 315.4 billion won during the same period last year.
Given the pace of paraxylene exports and the company‘s recent petrochemicals sales record, however, some industry sources expect the year’s final operating profit to outstrip that of 2016.
SK Incheon Petrochem annually produces some 1.3 million tons of paraxylene at its condensate-based plants in Incheon. Of the paraxylene products, 95 percent are exported to China, with the remaining going elsewhere in Asia.
By Shim Woo-hyun/The Korea Herald (ws@heraldcorp.com)
SK Incheon Petrochem expects to log operating profit that could surpass the record number achieved last year, the company‘s officials said. The petrochemicals unit of SK innovation last year logged an annual operating profit of 374.5 billion won ($344.2 million).
As of the third quarter this year, SK Incheon Petrochem’s operating profit reached 256.1 billion won, somewhat down from 315.4 billion won during the same period last year.
Given the pace of paraxylene exports and the company‘s recent petrochemicals sales record, however, some industry sources expect the year’s final operating profit to outstrip that of 2016.
SK Incheon Petrochem annually produces some 1.3 million tons of paraxylene at its condensate-based plants in Incheon. Of the paraxylene products, 95 percent are exported to China, with the remaining going elsewhere in Asia.
By Shim Woo-hyun/The Korea Herald (ws@heraldcorp.com)
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