Saudi Crown Prince, South Korean President Inaugurate S-Oil Refinery

Wednesday, 26 June, 2019 - 17:45
Asharq Al-Awsat

Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, and South Korean President Moon Jae-in inaugurated in Seoul on Wednesday the Korean S-Oil refinery, reported the Saudi Press Agency.

Addressing the gatherers, Chairman of S-Oil Corp Kim Chul-su highlighted the outcome of the investment of Saudi Aramco in Korea over the years, citing the role of this great partnership on energy supplies necessary for economic growth in the Asian country.

He pointed out that cooperation relations between S-Oil corps and Saudi Aramco are developing not only in the field of oil and refining, but also cover even research, education and cultural exchange.

Saudi Aramco President and CEO Amin al-Nasser said that S-Oil is playing a pivotal role in providing energy supplies necessary for economic growth in Korea.

The importance of S-Oil products is evident in supporting Korea's giant industries and companies which use its world-class products in daily life, he added.

In terms of technology, innovation and quality, the products of S-Oil are classified among the world's best, he stressed.

“We, in Saudi Aramco are proud of the development of relations with S-Oil,” he stated.

“When our company pumped its first investments in S-Oil in 1991, the refining capacity of S-Oil stood at 90 bpd only. Last year, it reached 669 bpd and meanwhile, the revenues increased to 31 folds. So, it is not surprising that we cite S-Oil as an example of our successful investments and other partnerships in the sector of refining,” Nasser said.

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