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Oil Refiners Increase Crude Imports from U.S. for Diversification of Sources

Oil Refiners Increase Crude Imports from U.S. for Diversification of Sources

SEOUL, Feb. 5 (Korea Bizwire) — South Korea’s oil refiners will continue to import more crude oil from the United States this year as they work to diversify sources away from the Middle East, industry officials said Monday. SK Energy announced it will purchase 3 million barrels of U.S. crude oil in the first quarter [...]

Refiners to Bask in Another Boom Year

Refiners to Bask in Another Boom Year

SEOUL, Nov. 21 (Yonhap) — Aided by improved cracking margins and solid demand for petrochemical products, local oil refiners are forecast to pocket more record earnings this year, and their stellar performance may continue into next year, industry sources said Tuesday. Oil prices have been in the doldrums since 2015 on concerns of an oversupply. [...]