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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