Korean refiners lift runs to 3-year high on record exports

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RECORD EXPORTSThose refiners’ exports of petroleum products surged 71.2% to an all-time high of $57 billion in 2022 from the previous year as the ongoing war in Ukraine raised global oil prices and disrupted refined product supplies worldwide, according to the local business group.

Refinery runs of SK Energy Co., GS Caltex Corp., S-Oil Corp.and Hyundai Oilbank Co.averaged at 79.4% last year, the highest since 2019 before the outbreak of COVID-19, the Korea Petroleum Association said on Sunday.

Refiners in South Korea raised their operating rates to a three-year high in 2022 as petroleum product exports hit a record high in value.

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Article Details

Category: Economy

Markets: South KoreaUkraine

Topics: Exports Refiners Energy Last 2022 Petroleum South Korea Year Crude Corp

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-01-29 @ 16:54:23 (1 months ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 253 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 16 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 4917555

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