SEOUL, Dec. 23 (Korea Bizwire) — South Korean refiner Hyundai Oilbank Co. said Thursday it will introduce the nation’s first game-themed gas station. Hyundai Oilbank, gaming giant Nexon Co. and local fashion brand Peaches collaborated on opening a PARTS Oilbank gas station in Hannam-dong, Seoul using the intellectual property from Nexon’s hit online game “KartRider.” [...]
SEOUL, Dec. 22 (Korea Bizwire) — SK E&S Co., the natural gas power unit of SK Group, said Thursday it will showcase sustainable energy solutions, including a hydrogen-powered fuel cell and drone, as well as electric vehicle charging equipment, at an upcoming U.S. tech event early next month. SK E&S will jointly present the GenDrive [...]
SEOUL, Dec. 8 (Korea Bizwire) — South Korea’s imports of crude oil from the Middle East increased sharply this year amid the international ban on imports of Russian oil, data showed Wednesday. The share of Middle East in the nation’s crude imports stood at 67.1 percent in the first ten months of this year, up [...]
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 [...]
SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s state-run gas company Korea Gas Corp. (KOGAS) announced on Monday that it had started producing liquefied natural gas (LNG) at the Coral gas field in Mozambique, and the first shipment had been completed. The project uses a floating liquefied natural gas (FLNG) facility to extract gas from [...]
SEOUL, Nov. 11 (Korea Bizwire) – GS Caltex Corp., a major South Korean refiner, said Friday it has completed the construction of a new olefin cracking facility on the country’s southwest coast, as it seeks to expand the petrochemical business. The new mixed feed cracker (MFC), built in Yeosu, about 320 kilometers south of Seoul, [...]
SEOUL, Oct. 27 (Korea Bizwire) — Exports of petroleum products by major refiners in South Korea hit a record quarterly high of US$16.3 billion in the third quarter, helped by higher fuel prices amid prolonged supply bottlenecks stemming from Russia’s invasion of Ukraine, data showed Thursday. The outbound shipments by SK Energy Co., GS Caltex [...]
SEOUL, Oct. 13 (Korea Bizwire) — SK Gas, a key energy affiliate of energy and telecom conglomerate SK Group, said Wednesday it had developed a new artificial intelligence (AI)-based system that anticipates and simulates the yield of chemical processing, and introduced it to its subsidiary SK Advanced Co. The company is the first to use [...]
SEOUL, Oct. 5 (Korea Bizwire) — South Korea’s state power utility said Wednesday it plans to increase coal-fired electricity generation temporarily this year in an effort to cut costs and boost financial health. Korea Electric Power Corp. (KEPCO) said it will produce 12.8 terawatt hours (TWh) with coal this year instead of using liquefied natural [...]
SEOUL, Sept. 30 (Korea Bizwire) — South Korea will raise natural gas prices for civilian use next month amid high international gas prices, the industry ministry said Friday. Starting in October, natural gas prices for households and commercial use will be hiked by 2.7 won (US$0.002) per megajoule, the ministry said in a press release. [...]