oil industry Archives | Be Korea-savvy

Industry Ministry Asks for Oil Industry’s Support for Price Stabilization

SEOUL, Nov. 9 (Korea Bizwire) — The industry ministry on Thursday asked local oil refiners to support the government’s efforts to stabilize oil prices. “As oil products are daily necessities for the people, the government is making proactive efforts to stabilize their prices,” Deputy Minister for Energy Policy Lee Ho-hyeon said during a meeting with [...]

S. Korea Refiners Diversify Business Portfolios for Growth

SEOUL, Feb. 12 (Korea Bizwire) – South Korean refiners are betting on non-refining activities to reduce their heavy reliance on their mainstream businesses amid the won’s strength and lower cracking margins, industry sources said Sunday. As the won’s strength against the dollar drives down cracking margins despite signs of recovering oil prices, local refiners have [...]