SK Lubricants posted operating profit of 41.5 billion South Korean won (U.S. $35.7 million) for the quarter ending June 30, down 47.7 percent from 79.4 billion a year earlier. Sales declined 11.4 percent to 656.4 billion won.

SK operates a 40,000 barrels per day API Group II/III base oil plant at its refinery complex in Ulsan, South Korea, which includes a 26,000 b/d joint venture base oil plant built by SK Innovation and JX Nippon Oil & Energy, launched in May 2012.

Seoul-based SK Lubricants also has a joint venture plant with Pertamina in Dumai, Indonesia, with 10,000 b/d of Group III capacity and partnered with Repsol on a 12,900 b/d Group II/III base oil plant that opened in Cartagena, Spain, in Oct. 2014.

S-Oil

Second-quarter operating income for S-Oils base oil business reached 79.5 billion won, up 9.8 percent from 72.4 billion won in the year-ago quarter. Revenue declined 27.1 percent to 373.5 billion won, from 512 billion won a year earlier.

Based in Seoul, S-Oil said in its earnings presentation that it expects a healthy spread to be sustained for Group III. Considering solid demand growth for high quality products and heavy supply increase for Group II products, the current market situation – oversupply of Group II and stability of Group III – will continue, the company stated.

S-Oils Onsan, South Korea, refinery has 20,500 b/d of Group III, 20,800 b/d of Group II and 500 b/d of Group I capacity.

BP

BPs lubricants business reported an underlying replacement cost profit before interest and tax of $397 million in the second quarter, up 26 percent from $315 million in 2014s second quarter.

The strong quarterly performance reflects continued momentum in growth markets, premium-brand performance and benefits from our simplification and efficiency programs leading to lower costs, BP said in its stock exchange announcement. These benefits were partially offset by adverse foreign exchange effects.