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Record high petchem exports expected from S Korea in 2016

by ChemOrbis Editorial Team -
  • 04/01/2017 (17:02)
According to media reports, South Korea’s petrochemical exports are estimated to have hit a new record high in 2016 with about 490 million barrels, after 477 million barrels recorded in 2015. This increase was attributed to an increase in demand from China, whose petrochemical imports have recently declined mainly because of the increase in the country’s capacity to supply its own petrochemicals, and other countries in Southeast Asia.

The reports revealed that the country’s four major oil companies, SK Innovation, GS Caltex, S-Oil and Hyundai Oil Bank, are also estimated to have generated an operating income of 7 trillion won ($5.79 billion) in line with the rise in oil prices and refining margin.
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