The Korean joint venture of Aramco Overseas Company (AOC), S-Oil Corporation, has posted a net profit of $150.4 million last year, over its revenue of $5.9 billion in 2002.
AOC, a subsidiary of Saudi Aramco, owns 35% of S-Oil. The refinery processes over 500,000 barrels of crude oil per day, 95% of which is supplied by Saudi Aramco, according to a report published today by Saudi Gazette.
Source: SPA
