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ESG Performance

Key ESG Performances

S-OIL is committed to creating stakeholder value through sustainable growth, contributing to the happiness of mankind as well as the development of society and economy. To this end, we dedicate not only to promoting bold innovation in entire business areas for enhancing our quality competitiveness and brand value but also to practicing shared growth with business partners and local communities based on the management philosophy centered on co-prosperity, fulfilling our responsibility as a corporate citizen.

Treatment of Crude Oil

(Unit : thousand barrels)

Treatment of Crude Oil : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Crude oil treatment volume 239,780 230,575 233,109 235,928

Difficult to calculate renewable materials used.

Production

(Unit : thousand barrels, KRW in million)

Production : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Total Volume 242,542 265,019 264,886 271,556
Amount 22,745,669 24,523,574 18,053,808 26,370,021
Fuel products Volume 206,139 228,561 228,043 231,420
Amount 17,914,773 19,909,719 14,394,525 20,868,495
Lube products Volume 13,625 12,990 12,541 14,770
Amount 1,387,078 1,255,515 789,481 1,389,874
Petrochemical products Volume 22,778 23,468 24,302 25,366
Amount 3,443,818 3,358,340 2,869,802 4,111,652
Employee Suggestion Program

(Unit : cases, persons)

Employee Suggestion Program : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
No. of suggestions received 1,323 1,921 1,211 790
No. of participants 587 598 435 307
Summarized Financial Positions

(Unit : KRW in million)

Summarized Financial Positions : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Current assets 5,854,506 5,628,862 4,996,549 8,377,423
Non-current assets 10,100,538 10,704,539 10,693,961 10,315,812
Total assets 15,955,044 16,333,401 15,690,510 18,693,235
Current liabilities 5,789,047 5,748,660 6,565,111 8,505,027
Non-current liabilities 3,696,763 4,088,115 3,442,922 3,200,166
Total liabilities 9,485,810 9,836,775 10,008,033 11,705,193
Capital stock 291,512 291,512 291,512 291,512
Capital surplus 379,190 379,190 379,190 379,190
Reserves 977,351 979,629 977,944 985,474
Treasury stocks (1,876) (1,876) (1,876) (1,876)
Retained earnings 4,823,057 4,848,171 4,035,707 5,333,742
Total equity 6,469,234 6,496,626 5,682,477 6,988,042
Total liabilities and equity 15,955,044 16,333,401 15,690,510 18,693,235
  • Based on consolidated financial statements prepared in accordance with K-IFRS.
Summarized Income Statement

(Unit : KRW in million)

Summarized Income Statement : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Revenue 25,463,295 24,394,173 16,829,681 27,463,918
Cost of sales (24,200,246) (23,346,806) (17,366,204) (24,695,192)
Gross profit 1,263,049 1,047,367 (536,523) 2,768,726
Selling & administrative expenses (623,589) (627,290) (562,623) (627,784)
Operating profit 639,460 420,077 (1,099,146) 2,140,942
Other income 261,777 370,423 394,473 459,981
Other expenses (452,899) (440,571) (430,609) (494,023)
Financial income 116,667 163,408 416,394 129,059
Financial expenses (237,336) (405,536) (452,615) (359,726)
Share of net profit of joint venture 4,120 2,550 3,706 1,787
Profit before income tax 331,789 110,351 (1,167,797) 1,878,020
Corporate tax expense (73,754) (44,922) 371,689 (499,479)
Net profit 258,035 65,429 (796,108) 1,378,541
Other comprehensive income (14,296) (8,836) (6,303) 43,541
Total comprehensive income 243,739 56,593 (802,411) 1,422,082
  • Based on consolidated financial statements prepared in accordance with K-IFRS.
Credit Ratings
Credit Ratings : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Overseas Credit Ratings Moody's Baa2 Baa2 Baa2 Baa2
S&P BBB BBB BBB BBB
Domestic Credit Ratings Korea Ratings AA+ AA+ AA AA
NICE Investors Service AA+ AA+ AA AA
Korea Investors Service AA+ AA+ AA AA
Dividend Payments

(Unit : KRW, %)

Dividend Payments : Classification, 2017, 2018, 2019, 2020, 2021 Table.
Classification 2017 2018 2019 2020 2021
Total dividends paid (KRW in million) 686,978 87,411 23,380 96 442,495
Cash dividend payout ratio 55.0 34.4 37.3 - 32.1
Cash dividends per share Common 5,900 750 200 - 3,800
Preferred 5,925 775 225 25 3,825
Cash dividend yield Common 4.7 0.7 0.2 - 4.3
Preferred 5.7 1.0 0.4 0.1 6.7
  • Based on separate financial statements prepared in accordance with K-IFRS.
Economic Value Created

(Unit : KRW in million)

Economic Value Created : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Revenue 25,463,295 24,394,173 16,829,681 27,463,918
Cost of sales (23,947,313) (22,909,569) (16,895,224) (24,062,245)
Other income 382,564 536,381 814,573 590,827
Other expenses (598,470) (643,945 (707,404) (726,203)
Depreciation cost (354,161) (571,946) (571,473) (590,863)
Economic value created 945,915 805,094 (529,847) 2,675,434
  • Based on consolidated financial statements prepared in accordance with K-IFRS.
Economic Value Distributed

(Unit : KRW in million)

Economic Value Distributed : Stakeholder, Item, 2018, 2019, 2020, 2021 Table.
Stakeholder Item 2018 2019 2020 2021
Employees Salary & pension 502,030 470,554 438,755 639,614
Government Tax & dues 94,085 66,949 (348,314) 529,732
Local communities Social contribution expenditure 19,456 19,346 17,757 17,733
Creditors Interest costs 72,309 182,816 158,063 109,813
Shareholders & company Dividend & reserves 258,035 65,429 (796,108) 1,378,541
Economic value distributed 945,915 805,094 (529,847) 2,675,434
  • Based on consolidated financial statements prepared in accordance with K-IFRS.
  • Social contribution expenditure included only donations on the financial statements.
Violation of Disclosure Regulations

(Unit : cases)

Violation of Disclosure Regulations : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
No. of violations 0 0 0 0
Procurement of Crude Oil

(Unit : KRW in million)

Procurement of Crude Oil : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Crude oil 17,428,059 14,040,070 9,605,427 16,147,536
Procurement by Item

(Unit : KRW in million)

Procurement by Item : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Total 842,921 863,888 961,279 627,832
Construction & maintenance 388,006 178,231 347,758 145,459
General service 79,304 290,787 135,884 96,741
Materials 375,610 394,870 477,636 385,632
  • Excluding crude oil & products.
Procurement by Region

(Unit : KRW in million, suppliers)

Procurement by Region : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Amount Korea 608,958 603,173 677,096 387,434
Asia 81,785 23,035 214,167 132,913
Middle East 207 0 92 940
Europe 57,690 26,134 7,764 11,850
America 94,233 211,546 62,133 94,661
Others 47 0 27 34
No. of Suppliers Korea 1,110 1,060 1,074 1,082
Asia 46 19 30 42
Middle East 2 0 2 2
Europe 41 25 23 27
America 36 62 27 27
Others 1 0 1 2
Total 1,236 1,166 1,157 1,182

Excluded crude oil & products.

Regular Risk Evaluation on Suppliers

(Unit : %)

Regular Risk Evaluation on Suppliers : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Regular evaluation rate (including ESG risk) 100 100 100 100
Suppliers Satisfaction Survey

(Unit : points)

Suppliers Satisfaction Survey : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Satisfaction score 9.41 9.46 9.43 9.45
ESG Training for Procurement-related Teams

(Unit : %)

ESG Training for Procurement-related Teams : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Participation rate 100 100 100 100
GHG Emissions

(Unit : thousand ton CO2eq)

GHG Emissions : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Scope I 7,150 7,292 7,362 7,709
Scope II 1,554 1,859 1,755 1,900
Total 8,704 (8,823) 9,150 (9,603) 9,117 (9,579) 9,609 (10,036)
Scope III 28 31 34 34
  • Figures in parenthesis mean emissions that include additional items in accordance with the amendment of the Target Management Scheme in 2014. Gaseous waste was included in 2017.
  • Scope III includes only vehicles in the downstream business.
Detailed GHG Emissions
Detailed GHG Emissions : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
CO2 (thousand tons) 8,694 9,142 9,109 9,593
CH4 (tons) 122 110 107 103
N2O (tons) 23 20 19 44
Detailed GHG Emissions

(Unit : thousand ton CO2eq, thousand tons CO2eq/KRW in billion)

Detailed GHG Emissions : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
CO2 8,694 9,142 9,109 9,593
CH4 3 2 2 2
N2O 7 6 6 14
Total 8,704 9,150 9,117 9,609
Intensity 0.34 0.38 0.54 0.35
  • It is CO2 converted volume considering the Global Warming Potential (GWP) presented by IPCC Guideline in 2006. (GWP : CO2=1, CH4=21, N2O=310)
  • Intensity is calculated on the basis of sales amount.
Energy Consumption

(Unit : TJ)

Energy Consumption : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Scope I 86,484 90,323 88,708 88,011
Scope II 33,132 39,178 37,080 42,021
Total 119,616 129,501 125,788 130,032
Scope III 377 405 454 484
Detailed Energy Consumption

(Unit : TJ, TJ/KRW in billion)

Detailed Energy Consumption : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Non-renewable energy Fossil fuels 86,484 90,323 88,708 88,011
Electricity 31,037 37,431 35,469 38,995
Steam / heating / cooling and other energy 2,095 1,748 1,611 3,026
Total 119,616 129,501 125,788 130,032
Renewable energy 0.108 0.108 0.108 0.108
Intensity 4.70 5.31 7.47 4.73

Intensity is calculated on the basis of sales amount.

Energy Cost

(Unit : KRW in million)

Energy Cost : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Energy cost 1,374,753 1,455,932 1,170,767 1,548,909
Sales of Energy

(Unit : TJ)

Sales of Energy : Classification, 2015, 2016. 2017, 2018 Table.
Classification 2018 2019 2020 2021
Steam 3,073 2,675 2,980 2,733
Environmental Performance

(Unit : KRW in million)

Environmental Performance : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Environmental investments 20,206 17,371 20,122 18,949
Environmental operating costs 172,531 230,471 221,171 227,441
Environmental benefits 58,783 60,984 66,637 147,965
Environmental Investments

(Unit : KRW in million)

Environmental Investments : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Air quality, malodor, HAPs 14,496 4,967 12,665 13,419
Water quality, marine 1,206 2,194 1,106 1,761
Energy saving 136 8,513 288 1,545
Soil, hazardous chemicals, waste, etc 4,368 1,697 6,063 2,224
Total 20,206 17,371 20,122 18,949
Major investments made in 2021
Air quality, malodor, HAPs
Installment of TMS, facilities improvement for NOx emission reduction and odor removal, etc.
Water quality, marine
Wastewater treatment facilities improvement, installment of auto-analyzer on water, etc.
Energy saving
Introduction of Mass Balance system, facilities improvement for energy saving, etc.
Others
Facilities improvement for preventing soil pollution, establishment of environmental management dashboard system, washing equipment improvement for reinforcement of hazardous chemicals management, etc.
Air Pollutant Emissions Intensity at Onsan Refinery
Air Pollutant Emissions Intensity at Onsan Refinery : Classification, 2018, 2019, 2020, 2021 Table.
Classification Legal standards 2018 2019 2020 2021
SOx 120 ppm 29.6 4.5 2.0 0.7
NOx 130 ppm 72.3 52.7 45.0 43.0
Dust 15 mg/S㎥ 2.0 0.0 0.0 1.4
  • Legal standards are the standard on heaters, which have the largest share among S-OIL's facilities.
  • Simple average of emissions intensity from heaters and boilers (TMS and self-measurement)
Air Pollutant Emissions Volume at Onsan Refinery

(Unit : tons)

Air Pollutant Emissions Volume at Onsan Refinery : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Total 5,263 3,499 6,183 6,245
SOx 1,655 425 352 405
NOx 3,548 3,040 5,814 5,824
Dust 60 34 17 16
  • Total volume of emission was calculated from outlets where TMS is installed until 2019. From 2020, total volume of emission is calculated from all outlets due to the enforcement of the air pollutions total quantity control system.
HAPs Leak Rate at Onsan Refinery

(Unit : %)

HAPs Leak Rate at Onsan Refinery : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
HAPs leak rate 0.06 0.03 0.04 0.04
Water Pollutant Emissions Intensity at Onsan Refinery
Water Pollutant Emissions Intensity at Onsan Refinery : Classification, Legal standards, 2018, 2019, 2020, 2021 Table.
Classification Legal standards 2018 2019 2020 2021
BOD 10 ppm 3.1 3.0 2.7 3.1
COD 40 ppm 7.4 6.9 8.7 8.7
SS 10 ppm 2.2 1.6 1.7 1.8
BOD
Simple average of emissions concentration analyzed by the Refinery
COD, SS
Simple average of emissions concentration from outlets where TMS is installed
Water Consumption, Recycling, & Wastewater Volume at Onsan Refinery

(Unit : thousand tons)

Water Consumption, Recycling, & Wastewater Volume at Onsan Refinery : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Water consumed Municipal water supplies 27,497 29,048 28,661 31,364
Fresh surface water 0 0 0 0
Fresh ground water 0 0 0 0
Total 27,497 29,048 28,661 31,364
Water recycled 2,450 (8.9%) 2,410 (8.3%) 2,554 (8.9%) 2,749 (8.8%)
Wastewater generated 12,143 13,733 12,518 12,684
General Waste Recycling & Disposal at Onsan Refinery

(Unit : tons)

General Waste Recycling & Disposal at Onsan Refinery : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Recycled / reused 17,641 28,871 24,129 28,355
Disposed Landfilled 6,500 6,494 2,863 1,839
Incinerated with energy recovery 0 0 0 0
Incinerated without energy recovery 1,057 1,280 979 765
Total 7,557 7,774 3,842 2,604
Designated Waste Recycling & Disposal at Onsan Refinery

(Unit : tons)

Designated Waste Recycling & Disposal at Onsan Refinery : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Recycled / reused 6,410 11,267 9,112 11,783
Disposed Landfilled 150 99 3 64
Incinerated with energy recovery 0 0 0 0
Incinerated without energy recovery 2,052 2,124 1,654 1,771
Total 2,203 2,223 1,657 1,834
Emissions of Hazardous Chemical Substances

(Unit : tons)

Emissions of Hazardous Chemical Substances : Classification, 2017, 2018, 2019, 2020 Table.
Classification 2017 2018 2019 2020
S-OIL 88 105 89 -
Average of domestic competitors 165 181 192 -

Data for 2020 is not announced by the Ministry of Environment.

Oil Spill

(Unit : cases)

Oil Spill : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
No. of oil spill accidents (leakage to the outside of factory) 0 0 0 1

In 2021, an oil spill was found in underground pipeline. But S-OIL completed a prevention work and an improvement of facilities for preventing a recurrence.

Violation of Environmental Laws

(Unit : cases, KRW in million)

VViolation of Environmental Laws : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Fine/penalty or over (Over $10,000) No. of violations 0 0 0 0
Amount 0 0 0 0
Environmental Impact Assessment
Oil Storage Facility Construction Project
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Green Purchasing

(Unit : cases, KRW in million)

Green Purchasing : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
No. of products 59 38 252 103
Amount of purchasing 32,541 15,539 14,413 18,956
Performance in Social Contribution Activities

(Unit : KRW in million)

Performance in Social Contribution Activities : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
Total 6,917 6,951 5,394 5,597
For Local Community 2,044 2,092 1,808 2,129
For the Environment 250 250 - 300
For Needy People 2,933 2,819 2,096 1,548
For Heroes 1,240 1,140 840 970
Others (S-OIL Science Prodigy & Culture Foundation, etc.) 450 650 650 650
  • The above performance includes donation as charity and local community contribution activities only. When social contribution activities for band identity enhancement and marketing purposes, community service hours of employees, and management cost are considered, the performance of 2021 amounts to KRW 11,945 million (cash KRW 5,270 million, non-cash asset KRW 6,329 million, management/labor cost KRW 346 million).
  • According to the government’s COVID-19 quarantine regulations, activities for the Environment were temporarily suspended in 2020.
Sunshine Sharing Campaign

(Unit : persons, hours, KRW in million)

Sunshine Sharing Campaign : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
S-OIL Public Service Corps No. of participants 2,047 1,863 - -
Participation hours 22,264 18,686 - -
Wage tail-cut contribution No. of participants 1,871 1,845 1,824 1,758
Amount of supports 180 145 70 75
1 employee & 1 donation account No. of participants 1,477 1,444 1,390 1,341
Amount of supports 58 60 51 48

According to the government's COVID-19 quarantine regulations, activities of S-OIL Public Service Corps were suspended in 2020 and 2021.

Culture & Art Sharing Campaign

(Unit : times, persons)

Culture & Art Sharing Campaign : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
No. of events 12 12 1 -
No. of participants 3,340 3,450 200 -

According to the government’s COVID-19 quarantine regulations, events were temporarily suspended from Feb. 2020.

Local Purchasing in Ulsan

(Unit : cases, KRW in million)

Local Purchasing in Ulsan : Classification, 2018, 2019, 2020, 2021 Table.
Classification 2018 2019 2020 2021
No. of purchasing in Ulsan 6,168 (60.1%) 5,718 (57.7%) 5,305 (58.8%) 5,575 (60.9%)
Amounts of purchasing in Ulsan 194,186 (23.0%) 187,431 (21.7%) 271,181 (28.2%) 134,919 (21.5%)

Excluding crude oil & products.

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