Cepsa Signs Agreement for Korean Aromatics JV

Compañía Española de Petróleos (Cepsa; Madrid) and Hyundai Oilbank Co. (HDO; Seoul) have signed a memorandum of understanding (MoU) with local authorities for a previously announced world-scale aromatics joint venture at Seosan, Korea (CW, May 17, 2006, p. 18). The jv will take over an existing aromatics plant at HDO’s Seosan refinery and construct a new aromatics complex at the site. Cepsa chairman Carlos Pérez de Bricio and HDO president See Young Tae, together with the provincial governor of Chungnam, Korea and the...

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