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 [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea’s major oil refiners plan to invest some 3.5 trillion won (US$3.3 billion) over the next three years to upgrade their facility and diversify their business portfolio, the country’s energy ministry said Friday. During a meeting with Paik Un-gyu, minister of trade, industry and energy, chief executives of [...]
SEOUL, Aug. 6 (Yonhap) — SK Engineering & Construction Co., a South Korean builder, said Sunday that it has signed a US$1.6 billion deal with an Iranian company to carry out an oil refinery modernization project. Under the agreement with Tabriz Oil Refining Co., an affiliate of Parsian Oil and Gas Development Group Co., the [...]
SEOUL, Feb. 3 (Korea Bizwire) – SK Innovation Co., South Korea’s top oil refiner, on Friday said its earnings nearly doubled last year from a year earlier, thanks to better-than-expected results from its petrochemical business and expanded refining margin. Net profit stood at 1.72 trillion won (US$1.49 billion) last year, compared with a profit of [...]