DAEJEON, Feb. 7 (Korea Bizwire) – A team of KAIST researchers announced Tuesday the development of a new emulsion technique that makes use of physical force instead of chemical compounds. Because oil floats on water due to its lower density, dispersants, or surfactants, are required to make oil particles water-soluble. These compounds, however, have often [...]
SEOUL, Feb. 6 (Korea Bizwire) – South Korean motorists pay much higher oil taxes than their counterparts in the United States and Japan, a report said Monday, sparking calls for the government to lower them. According to the report by online crude price provider Opinet, gasoline prices in South Korea averaged 1,455 won (US$1.28) per [...]
DENVER, Dec. 23 (Korea Bizwire) — Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the “Company”), is a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford and Greater Anadarko Basin. Sundance Energy Australia Limited (ASX:SEA) is pleased to announce the acquisition of additional working interests in 23 gross (1.5 [...]
SEJONG, Nov. 29 (Korea Bizwire) – Discount gas stations have had little to no impact on overall gas prices since they were introduced about five years ago, a report showed Monday. The country’s state-run Korea National Oil Corp. (KNOC) introduced the discount gas stations in late 2011 to sell car fuel at cheaper prices as [...]
SEOUL, Nov. 24 (Korea Bizwire) – South Korea’s SK Group will work with oil producers of the Middle East to find new business models beyond developing petroleum products, the conglomerate said Thursday. The group’s chairman Chey Tae-won, visiting the region this week, met with CEOs of sovereign funds, oil companies and other partner firms, and [...]
GEORGE TOWN, GRAND CAYMAN, Nov, 2 (Korea Bizwire) – Skyland Petroleum Group Limited ARBN 613 928 671 (ASX: SKP)(“Skyland” or the “Company”) is pleased to provide the prospective resource figures relating to the exploration potential within the Mirninsky Licence area located in the Sakha (Yakutia) Republic of the Russian Federation. In addition to the encouraging [...]
DAEGU, June 22 (Korea Bizwire) – Oil theft in Korea is becoming more elaborate and highly organized. Two Korean males, referred to only as Lee (50) and Kim (57), were sentenced to four and three years in prison, respectively, for robbery and violation of the oil pipeline maintenance law. Song (56), who also took part [...]
HOUSTON, Mar. 15 (Korea Bizwire) – WHAT: International business and trade media are invited to tour McDermott’s new flagship, the derrick lay vessel DLV 2000, and interview members of the McDermott leadership team in advance of its formal naming ceremony the following day. WHO: McDermott (NYSE:MDR) is a leading provider of integrated [...]
BOCA RATON, Fla., Mar. 11 (Korea Bizwire) — Nasdaq announced the establishment of a new energy futures market with the support of leading commodities participants. Nasdaq Futures (NFX) will offer competitive pricing, an innovative clearing solution and high-performance technology for futures and options based on key energy benchmarks including oil, natural gas and US power, [...]
SEJONG, Mar. 11 (Korea Bizwire) — The South Korean government allocated fewer funds to purchase oil products, missing out on the opportunity to stock up on emergency energy reserves at the lowest costs in decades, records showed Wednesday. According to the Ministry of Trade, Industry and Energy, the government plans to purchase 219,000 barrels of [...]