SEOUL, Jan. 30 (Korea Bizwire) – S-OIL announced on January 29 that it has begun incorporating waste cooking oil, bio-based materials, and pyrolysis oil from plastic waste into its refining processes. This marks the first time a domestic refiner in South Korea has integrated bio-based materials into its refining operations, aiming to produce low-carbon and eco-friendly [...]
SEOUL, March 9 (Korea Bizwire) — President Yoon Suk Yeol attended the groundbreaking ceremony for a 9.3 trillion-won (US$7 billion) petrochemical plant in the southeastern city of Ulsan on Thursday, hailing the project as a symbol of the friendship and trust between South Korea and Saudi Arabia, his office said. The “Shaheen project,” named after [...]
SEOUL, Nov. 17 (Korea Bizwire) — S-Oil Corp., a major South Korea-based refiner, unveiled Thursday a US$7 billion project to build a large-scale petrochemical plant in the country’s southeast, in what will be a milestone in its downstream expansion from oil refining-oriented to petrochemicals. The Shaheen Project aims to build a steam cracking facility to [...]
ULSAN/SEOUL, May 20 (Korea Bizwire) — The head of S-Oil Corp. apologized Friday over the explosion at the company’s refinery unit in the country’s southwest that left one person killed and nine others injured, vowing all-out efforts in handling the aftermath. Hussain A. Al-Qahtani, CEO of S-Oil, made the remarks hours after the blast occurred [...]
SEOUL, Oct. 13 (Korea Bizwire) — S-Oil Corp., South Korea’s No. 3 refiner, said Tuesday that it will take part in a large-scale clean hydrogen project to establish a domestic hydrogen ecosystem. In collaboration with Saudi Aramco, the company will supply blue ammonia produced in Saudi Arabia to the domestic market. Saudi Aramco, the world’s [...]
SEOUL, March 8 (Korea Bizwire) — S-Oil Corp., South Korea’s No. 3 oil refiner, said Monday it is investing 8.2 billion won (US$7.3 million) in a fuel cell developer to diversify its energy portfolio. The refiner owned by Saudi Aramco said in a regulatory filing that it will acquire a 21 percent stake in Fuel [...]
SEOUL, Jun. 26 (Korea Bizwire) — S-Oil Corp., a major refiner in South Korea owned by Saudi Aramco, said Wednesday it has completed the construction of petrochemical production facilities in South Korea, which will help further raise its presence in the non-refining business field. In 2015, S-Oil, the third-largest refining firm in the country, started [...]
SEOUL, Jul. 30 (Korea Bizwire) — Expect crowded beaches and airports as major industries in the Ulsan area have begun official their official summer vacation. Depending on their line of work, however, the mood of some workers may be gloomier than usual. The shipbuilding industry’s well publicized struggles in the face of plummeting demand has [...]
SEOUL, May 15 (Korea Bizwire) — South Korean oil refiners, led by top player SK Innovation Co., logged decent earnings in the first quarter of the year on the back of robust petrochemical business, and expect their bottom line to remain firm under the current quarter thanks to the recovery of their refining margin, industry [...]
SEOUL, Aug. 25 (Korea Bizwire) – The Financial Times (FT) of England reported that Koreans, who used to work the most and rest the least, have recently showed a tendency to take longer vacations. According to Expedia, a global travel agency, the average Korean took 8.6 days off every year, which was the lowest among [...]