ULSAN, Jun. 13 (Korea Bizwire) — South Korean petrochemical companies plan to invest 14.5 trillion won (US$12.2 billion) by 2023, the finance minister said Thursday, in an apparent move to boost their output capacity. Hong Nam-ki, the minister of economy and finance, also said the government is considering offering additional tax benefits to petrochemical companies [...]
WASHINGTON/SEOUL, Nov. 5 (Korea Bizwire) — The United States on Monday granted a waiver to South Korea and seven other nations after renewing its ban on imports of Iranian oil. U.S. Secretary of State Mike Pompeo announced that the temporary exemptions were being given based on “specific circumstances” and to ensure a well-supplied oil market. [...]
SEOUL, Aug. 8 (Korea Bizwire) — South Korean refiners and a petrochemical company have begun to increase purchases of ultralight crude from Qatar, the United States and other countries as they cut imports of Iranian condensate due to Washington’s sanctions on Tehran, corporate sources said Wednesday. SK Innovation Co., South Korea’s biggest oil refiner by [...]