Hyundai Oilbank News
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South Korea’s imports of oil from Iran increased 24 percent in December from a year earlier.
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South Korea’s imports of oil from Iran increased 2.9 percent in November from October, when it resumed shipments from the Persian Gulf nation.
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A South Korean court has given Hyundai Heavy Industries Co. , the world’s largest shipyard, approval to buy Hyundai Oilbank Co. from International Petroleum Investment Co., backing a ruling in Singapore last year.
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Hyundai Oilbank Co., South Korea’s fourth-largest refiner, completed building a 2.6-trillion-won ($2.3-billion) heavy oil upgrading plant to raise output of higher-priced, cleaner-burning fuels.
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Hyundai Heavy Industries Co. , the world’s largest shipyard, won a court’s approval to buy Hyundai Oilbank Co. from International Petroleum Investment Co. of the United Arab Emirates for control of the South Korean refiner.
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Hyundai Oilbank Co., South Korea’s fourth-biggest refiner, began construction of a site to store oil and petrochemical products as part of its plan to become a regional fuel distributor.
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Hyundai Oilbank Co., South Korea’s fourth-biggest oil refiner, plans to shut a crude processing unit at its Daesan refinery for maintenance next year, an official said.
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An Iranian supertanker is sailing for South Korea’s Daesan port, indicating the Asian country will probably continue to import oil from the Islamic nation after stopping in August and September.
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Hyundai Oilbank Co., one of six liquefied petroleum gas distributors fined by South Korea’s Fair Trade Commission for price fixing, lost an appeal against the antitrust regulator’s 26.3 billion won ($24 million) penalty.
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