SEOUL, Dec. 8 (Korea Bizwire) — South Korea’s imports of crude oil from the Middle East increased sharply this year amid the international ban on imports of Russian oil, data showed Wednesday. The share of Middle East in the nation’s crude imports stood at 67.1 percent in the first ten months of this year, up [...]
SEOUL, May 6 (Korea Bizwire) — Gold funds in South Korea have shined over the past three months on investors’ flight to safety amid the coronavirus pandemic, but oil funds have fared dismally on tumbling crude prices, a market tracker said Wednesday. The three-month average return of 12 local gold funds with assets of 1 [...]
SEOUL, April 22 (Korea Bizwire) — South Korean brokerage houses have sharply cut their first-quarter earnings outlook for major refiners and chemical makers on tumbling oil demand and prices due to the coronavirus outbreak, a market tracker said Wednesday. According to FnGuide, 13 oil refiners, gas firms and chemicals manufacturers are estimated to post a [...]
DENVER, March 13 (Korea Bizwire) — Sundance Energy Inc. (NASDAQ: SNDE) (“Sundance” or the “Company”) today provided details regarding its current hedge book and recent actions the Company has taken to improve its already robust hedge position to provide price certainty for 2020 and 2021. For the balance of 2020 from April through December, Sundance [...]
SEOUL, Sept. 17 (Korea Bizwire) — South Korean shipbuilders may receive more orders following drone strikes on Saudi Arabia’s crude processing facilities, analysts here said Tuesday, as the incident is likely to push up demand for liquefied natural gas (LNG) tankers and offshore facilities. Saudi Arabia shut down about half of its oil production Saturday [...]
SEOUL, Sept. 16 (Korea Bizwire) — South Korean refiners said Monday they are closely monitoring potential fallout from drone strikes on Saudi Arabia’s crude processing facilities at the weekend that have rattled the global oil industry. Saudi Arabia shut down about half of its oil production Saturday following a series of drone attacks that damaged [...]
SEOUL, Mar. 12 (Korea Bizwire) — South Korea outstripped China as the world’s No. 2 importer of U.S. crude oil in 2018 due to its cheaper price and a Sino-American trade war, an industry report said Tuesday. South Korea’s daily average imports of American crude amounted to 236,000 barrels last year, trailing Canada’s 378,000 barrels, [...]
SEJONG, Nov. 29 (Korea Bizwire) – South Korea’s imports of Iranian crude oil soared in the third quarter of this year from a year earlier following the lifting of international sanctions against the Middle East country, government data showed Tuesday. A total of 29.8 million barrels of crude oil was imported from Iran during the [...]
SEOUL, May 23 (Korea Bizwire) – South Korea is increasingly bringing in African crude oil, as its prices have become more attractive due to competition with shale gas, refiners here said Sunday. Seoul imported 9.6 million barrels of African crude oil and “condensate,” a type of ultra-light crude, in the first quarter of this year. [...]
SEJONG, May 1 (Korea Bizwire) — The volume of South Korea’s energy imports inched up on-year in the first quarter of 2015, but its value dropped sharply due mainly to weak international crude oil prices, customs data showed Friday. According to the data by the Korea Customs Service (KCS), South Korea imported 78.24 million tons of [...]