SEOUL, Nov. 15 (Korea Bizwire) — Samsung Engineers & AHEAD (Samsung E&A), formerly Samsung Engineering Co., said Friday it has received a 301.9 billion-won (US$215 million) deal to build a petrochemical plant in Qatar. Samsung E&A has set up a joint firm with Taiwan’s engineering services provider CTCI Corp. to obtain the deal from Ras [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea has kicked off a new energy storage facility in the southeastern port city of Ulsan, which will serve as a key energy hub for the country, the industry ministry said Thursday. The Korea Energy Terminal, located 308 kilometers south of Seoul, has begun its commercial operation with [...]
SEOUL, Nov. 1 (Korea Bizwire) — The merged entity of South Korean refiner SK Innovation Co. and its affiliate SK E&S Co. officially set sail Friday, becoming the largest private energy company in the Asia-Pacific region, the company said. The integrated company, named SK Innovation Co., has combined assets of 105 trillion won (US$76 billion) [...]
SEOUL, Sept. 25 (Korea Bizwire) — Preparations have been under way for the first exploratory drilling in December for potential oil and gas reserves off the nation’s East Sea, officials said Wednesday. Industry Minister Ahn Duk-geun hosted a meeting with related agencies in Seoul to review the progress of preparations for a project in the [...]
SEOUL, Sept. 19 (Korea Bizwire) — GS Caltex Corp., South Korea’s second-biggest refiner by sales, said Thursday it has exported sustainable aviation fuel (SAF) to a Japanese trading company. Last week, GS Caltex supplied 5,000 kiloliters of SAF to Itochu Corp., which has delivered the environment-friendly fuel to Narita International Airport, the company said in [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s biggest coal mine, Jangseong Coal Mine, formally closed Friday, 88 years after it opened, as coal output declined with the nation shifting toward greener energy sources. The anthracite coal mine in Taebaek, some 180 kilometers east of Seoul, began operations in 1936 during Japan’s colonial rule of [...]
SEOUL, Aug. 22 (Korea Bizwire) – SK Innovation, a leading South Korean energy and chemical company, conducted a groundbreaking oil spill response drill on August 20 at its SK pier near the Ulsan Complex, the company announced on August 21. This marks the first time a private company in South Korea has employed robotics in such [...]
SEOUL, Aug. 8 (Korea Bizwire) — SK earthon Co., a South Korean oil exploration and production (E&P) company, said Thursday it has joined a project to build a submarine carbon storage facility in Australia in its business diversification strategy. SK earthon invested in 20 percent of the project, with InCapture, an Australian carbon capture and [...]
SEOUL, Jul. 16 (Korea Bizwire) — The industry ministry said Tuesday it has asked the country’s four major oil refiners to refrain from excessive price increases as part of efforts to combat lingering inflation. Second Vice Industry Minister Choe Nam-ho made the remark during his meeting with representatives from SK Energy Co., GS Caltex Corp., [...]
SEOUL, Jul. 9 (Korea Bizwire) — POSCO International Corp. said Tuesday it has completed the construction of a liquefied natural gas (LNG) terminal, marking the first such facility operated by a private business. The trading and energy unit of South Korea’s top steelmaker, POSCO, said the completion of the terminal, which includes six storage tanks, [...]