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SK Innovation: Beneficiary Of US Crude Exports And IMO 2020

Summary

SK Innovation reported an earnings surprise for 2Q19 on one-off gains and the diversification of crude import regions.

The percentage of US crude imports, which is relatively cheap, has expanded to 20%.

IMO 2020 effects (higher demand and refining margins) should lead to handsome earnings in 2H19.

sk oil refiner

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Additional disclosure: Hyundai Motor Company is a passive shareholder in our bank.