S-Oil said Tuesday that its Shaheen project, a massive petrochemical facility expansion which is under construction with commercial operations targeted for next year, will help strengthen the global competitiveness of Korea’s petrochemical industry. The company said the project could help the industry shift toward higher-value products by introducing advanced technologies and highly efficient facilities, as the sector grapples with oversupply and declining profitability. According to S-Oil, the Shaheen project is being built with a production base focused on cost competitiveness, energy efficiency and flexibility in feedstock use. The project will feature the world’s first commercial application of thermal crude-to-chemicals (TC2C) technology, which converts crude oil and low-value fractions from the refining process into petrochemical feedstocks. It combines high-efficiency facilities with process optimization technologies to improve feedstock and energy efficiency. Additional improvements are expected to reduce carbon emissions by more than 20 percent from the original design. The f
S-Oil’s Shaheen project to boost Korea’s petrochemical competitiveness
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S-Oil said Tuesday that its Shaheen project, a massive petrochemical facility expansion which is under construction with commercial operations targeted for next year, will help strengthen the global competitiveness of Korea’s petrochemical industry. The company said the project could help the industry shift toward higher-value products by introducing advanced technologies and highly efficient facilities, as the sector grapples with oversupply… Read more: S-Oil’s Shaheen project to boost Korea’s petrochemical competitiveness - Young Koreans lose trust in Lee government’s economic policiesA 33-year-old office worker in northeastern Seoul’s Dongdaemun District surnamed Park has been using an individual savings account (ISA) for long-term investments, mainly in overseas stocks. But uncertainty over recent changes to the account has left her unsure about how to manage her money. “I saw reports in early August saying the rules would change to limit investment in overseas… Read more: Young Koreans lose trust in Lee government’s economic policies
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