South Korea's fourth-largest refiner, Hyundai Oilbank, said Monday it produced 90.76 million barrels, or 333,677 b/d, of refined oil products over the first nine months of this year, down 9.7% from 100.48 million barrels a year earlier.
The refiner operated its crude distillation units at an average rate of 85.6% over January-September, down from 94.1% in the year-ago period, it said, without providing a quarterly breakdown of the figures.
Based on earlier reports, its Q3 refined products output stood at 32.75 million barrels, down 1.9% from a year earlier.
The refiner said it operated its crude distillation units at an average rate of 85.6% over January-September, down from 94.1% in the same period a year earlier, but up from an average 81.5% over the first half of the year.
It did not disclose Q3 refinery run rates, but based on its estimated refined products output of 32.75 million, or 355,978 b/d, the rate was 91.3%. Hyundai Oilbank has a total refining capacity of 390,000 b/d at its Daesan complex on the country's west coast.
The company said its Q3 net profit fell 33.8% year on year to Won 134.9 billion ($127.1 million) from Won 203.7 billion a year earlier.
Q3 operating profit fell 42.2% year on year to Won 143.4 billion, while Q3 revenue totaled Won 5.32 trillion, up 1.1%.
Hyundai Oilbank is 91% owned by South Korea's Hyundai Heavy Industries and 9% by former Hyundai affiliates.
The refiner said it had a 13.8% share of South Korea's oil market in the first nine months of the year, down from 14.4% in full year 2012. Largest refiner SK Innovation had 28%, GS Caltex had 25.5% and S-Oil 15.8% over January-September, according to state-run Korea National Oil Corp, which added the remaining 16.9% was held by importers and gas companies.
