S-Oil announced earnings results for the second quarter of 2020. For the quarter, the company reported operating loss increased to KRW 164.3 billion in the second quarter, from KRW 90.5 billion last year, after cracking margins fell due to the pandemic. In the same period, its net loss dropped 92.4% to KRW 66.9 billion from KRW 880.6 billion. Sales dropped 44.8% to KRW 3.45 trillion due to lower oil prices.