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S-Oil
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Q2 2026 Results Presentation
| Anwar A. Al-Hejazi | Page 2 of 11 |
October 06, 2026
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"Q2 2026 Results Presentation"
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Highlights 965 billion Won Operating Income in Q2 2026 Tight Supply and Low Inventories to Sustain Firm Market Conditions Shaheen Project Progressing Toward Commercial Operation in Early 2027 Despite lower crude prices toward the end of Q2, operating income reached 965 billion Won, supported by strong international refining margins and lube spreads With global crude and product inventories significantly reduced by H supply disruptions, tight supply-demand conditions are expected to persist, supporting firm market conditions in H2 Pre-commissioning and commissioning are in progress, with start-up to follow, and preparations for early 2027 commercial operation ongoing