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Archive by category Coal, Oil & Gas

SK Innovation Expands SAF Production as Global Demand Accelerates, Calls for Stronger Policy Support

DAEJEON, South Korea, April 14 (Korea Bizwire) — At SK Innovation’s Environmental Science & Technology Institute in Daejeon, a powerful scent of used cooking oil hangs in the air, signaling an ambitious transformation: converting waste oil into sustainable aviation fuel (SAF). Within the facility’s pilot plant, dark brown waste oil is refined through high-temperature, high-pressure reactors [...]

Korea Nears Policy Response as Petrochemical Industry Faces Prolonged Downturn

SEOUL, April 12 (Korea Bizwire) — As South Korea’s petrochemical sector grapples with a historic downturn, the government is expected to unveil new support measures in the coming months, following the completion of a strategic industry consulting project commissioned to address deep structural challenges. The Korea Petrochemical Industry Association recently submitted a final report to [...]

S. Korea Weighs High-Stakes Decision on Alaska LNG Project Amid U.S. Pressure and Domestic Uncertainty

SEOUL, March 31 (Korea Bizwire) — The government of South Korea faces mounting pressure from the United States to commit to purchasing liquefied natural gas (LNG) from Alaska, a move that could carry significant economic and geopolitical consequences for Seoul. But despite a visit by Alaska Governor Mike Dunleavy last week and growing American expectations, South [...]

S. Korea’s Potential Participation in Alaska LNG Project to Look ‘Favorably’ in Tariff Talks with U.S.: Dunleavy

SEOUL, March 27 (Korea Bizwire) — South Korea’s possible participation in the Alaska liquefied natural gas (LNG) project will likely be viewed “favorably” in tariff negotiations with the Donald Trump administration, Alaska’s governor has said. Alaska Gov. Mike Dunleavy made the remarks in a roundtable interview with Yonhap News Agency and other news outlets on [...]

Industry Minister to Meet Alaska Governor Next Week to Discuss Gas Pipeline Project: Sources

SEJONG, March 18 (Korea Bizwire) — South Korean Industry Minister Ahn Duk-geun is set to meet with the governor of Alaska next week in Seoul and discuss Seoul’s possible participation in the gas pipeline project in the U.S. state, diplomatic sources said Tuesday. Ahn plans to hold a face-to-face meeting with Alaska Gov. Mike Dunleavy, [...]

SK Energy to Supply Renewable Aviation Fuel to Cathay Pacific

SEOUL, March 11 (Korea Bizwire) — SK Energy Co., a refining arm of SK Group, said Tuesday it has signed a deal to supply renewable aviation fuel to Cathay Pacific Airways. SK Energy will provide more than 20,000 tons of sustainable aviation fuel (SAF) to the Hong Kong flag carrier by 2027, the company said [...]

Petrochemical Firms Face Credit Downgrades Amid Prolonged Downturn

SEOUL, March 11 (Korea Bizwire) — South Korea’s leading petrochemical companies are bracing for potential credit rating downgrades in the first half of 2025 as financial indicators continue to deteriorate due to a prolonged industry slump. The growing concerns come in the wake of Homeplus’ restructuring following a credit rating downgrade, raising alarms over broader [...]

Trump Says S. Korea, Japan, Others Want to Be Partners in Natural Gas Pipeline Project in Alaska: Address Excerpt

WASHINGTON, March 4 (Korea Bizwire) — U.S. President Donald Trump is set to say Tuesday that South Korea, Japan and other countries want to be partners as his administration is working on a natural gas pipeline in Alaska, according to excerpts of his planned address to a joint session of Congress. The White House released [...]

S. Korea Expresses Interest in Alaska LNG Project to Bolster Trade Relations with U.S.: Sources

SEJONG, March 4 (Korea Bizwire) — South Korea has expressed interest in joining hands with the United States and Japan for the gas pipeline development project in Alaska as part of efforts to improve its trade relations with U.S. President Donald Trump’s administration, sources said Tuesday. Seoul’s Industry Minister Ahn Duk-geun delivered such an intention [...]

Daewang Whale Drilling Fails: KNOC Faces Mounting Debt and Uncertainty

SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s ambitious deep-sea gas exploration project, codenamed “Daewang Whale,” faces an uncertain future after the first drilling attempt failed to yield economically viable hydrocarbon reserves. With the government unwilling to fund a second drilling phase and the Korea National Oil Corporation (KNOC) grappling with financial instability, the project’s continuation [...]