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S-Oil Launches US$7 bln Petrochemical Project in S. Korea in Downstream Expansion

S-Oil Launches US$7 bln Petrochemical Project in S. Korea in Downstream Expansion

SEOUL, Nov. 17 (Korea Bizwire) — S-Oil Corp., a major South Korea-based refiner, unveiled Thursday a US$7 billion project to build a large-scale petrochemical plant in the country’s southeast, in what will be a milestone in its downstream expansion from oil refining-oriented to petrochemicals. The Shaheen Project aims to build a steam cracking facility to [...]

KOGAS Produces First LNG at Gas Field in Mozambique

KOGAS Produces First LNG at Gas Field in Mozambique

SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s state-run gas company Korea Gas Corp. (KOGAS) announced on Monday that it had started producing liquefied natural gas (LNG) at the Coral gas field in Mozambique, and the first shipment had been completed. The project uses a floating liquefied natural gas (FLNG) facility to extract gas from [...]

Refiners’ Q3 Exports Hit US$16.3 bln amid Supply Bottlenecks

Refiners’ Q3 Exports Hit US$16.3 bln amid Supply Bottlenecks

SEOUL, Oct. 27 (Korea Bizwire) — Exports of petroleum products by major refiners in South Korea hit a record quarterly high of US$16.3 billion in the third quarter, helped by higher fuel prices amid prolonged supply bottlenecks stemming from Russia’s invasion of Ukraine, data showed Thursday. The outbound shipments by SK Energy Co., GS Caltex [...]

SK Gas Develops AI-based Chemical Processing Yield Estimation System

SK Gas Develops AI-based Chemical Processing Yield Estimation System

SEOUL, Oct. 13 (Korea Bizwire) — SK Gas, a key energy affiliate of energy and telecom conglomerate SK Group, said Wednesday it had developed a new artificial intelligence (AI)-based system that anticipates and simulates the yield of chemical processing, and introduced it to its subsidiary SK Advanced Co. The company is the first to use [...]

KEPCO Eyes More Coal-fired Power Generation to Cut Costs

KEPCO Eyes More Coal-fired Power Generation to Cut Costs

SEOUL, Oct. 5 (Korea Bizwire) — South Korea’s state power utility said Wednesday it plans to increase coal-fired electricity generation temporarily this year in an effort to cut costs and boost financial health. Korea Electric Power Corp. (KEPCO) said it will produce 12.8 terawatt hours (TWh) with coal this year instead of using liquefied natural [...]

Seoul to Ban Grade 4 Diesel Vehicles from Downtown for Emission Reduction

Seoul to Ban Grade 4 Diesel Vehicles from Downtown for Emission Reduction

SEOUL, Sept. 28 (Korea Bizwire) – The Seoul city government will additionally ban Grade 4 diesel vehicles, the second lowest in the country’s five-tier emission standard, from the city’s central areas starting in 2025 with a goal of dramatically reducing air pollutants, the mayor said Wednesday. Mayor Oh Se-hoon announced the measure as part of a broader [...]

POSCO International to Boost Natural Gas Production with Australian Partner

POSCO International to Boost Natural Gas Production with Australian Partner

SEOUL, Sept. 25 (Korea Bizwire) — POSCO International Corp., the commodity trading unit of South Korean steel giant POSCO Holdings Co., said Sunday it is investing a combined 280 billion won (US$198.2 million) to triple its natural gas production in the next three years. The funding will be provided to Senex, a subsidiary co-owned by [...]

Gov’t Bans Use of Plastic Cheering Equipment at Sports Facilities

Gov’t Bans Use of Plastic Cheering Equipment at Sports Facilities

SEOUL, Aug. 25 (Korea Bizwire) — Inflatable cheering sticks and plastic blankets will be banned from use at sports facilities, following the prohibition of cheering equipment made with synthetic resins. The Ministry of Environment posted the new guidelines on its official website, explaining the new enforcement rules of the resource recycling act taking effect on [...]